RecDoc 2025-068090 Reso16360 - Laserfiche WebLink

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WHEREAS, following construction of the improvements described above, City accepted ownership of the levee improvements and related flood protection facilities along the perimeter of Seaport Centre by subparagraph (d) of the Deed of Conveyance recorded on January 10, 1986 as Instrument Number 86003623 in the San Mateo County Records (such deed is hereinafter the "1986 Deed of Conveyance" and the levee improvements and related flood protection facilities described in subparagraph (d) thereof are hereinafter the "Original Seaport Centre Levee Improvements"), and WHEREAS, City also accepted, pursuant to that certain Deed of Easements recorded January 10, 1986 as Instrument No. 86003619 in the Official Records of the County of San Mateo ("1986 Easement Deed"), dedication of a public services levee easement for the ongoing operation, maintenance, improvement, repair and replacement of the Original Seaport Centre Levee Improvements and certain ancillary levee related flood and inundation protection facilities ("1986 Levee Easements") with respect to that certain portion of Seaport Centre as described in the 1986 Easement Deed (1986 Levee Easement Area"); and WHEREAS, based on updated maps produced by the Federal Emergency Management Agency ("FEMA") for Redwood City residents and businesses that went into effect on April 5, 2019, more than 950 parcels, including the Seaport Centre and Seaport Plaza properties, have been included in a Special Flood Hazard Area in the 2019 Flood Insurance Rates Maps ("FIRMs"), when compared to the 2012 FEMA maps, and WHEREAS, to address concerns associated with the new FIRMs, HCP, Met Life, SCOA and City have entered into a Levee Financing and Improvement Agreement dated October 27, 2020 as amended by that certain First Amendment to Levee Financing and Improvement Agreement dated December 13, 2021 and that certain Second Amendment to Levee Financing and Improvement Agreement approved concurrently herewith (as amended, the "Levee Financing and Improvement Agreement"), providing, among other things, for (a) SCOA's design and construction of (i) a levee and related flood protection facilities along the perimeter of Seaport Plaza facing Redwood Creek ("Seaport Plaza Levee Improvements"), (ii) improvements to (and, where necessary, replacement of) the Original Seaport Centre Levee Improvements (except for those that are the subject of this vacation resolution, including the inboard boundary with Seaport Plaza) ("Seaport Centre Levee Improvements" and, collectively with the Seaport Plaza Levee Improvements, the "New Levee Improvements"); and (iii) SCOA's application for, processing and final accreditation by FEMA of the Seaport Centre Levee as improved and enlarged by the New Levee Improvements (collectively, the "New Levee"), (b) City's acquisition of the New Levee Improvements, following SCOA's satisfactory completion thereof; and (c) the establishment of a community facilities district ("CFD") under the authority of the City's Special Tax Financing Law, the boundaries of which would include all real property within the area of the New Levee, for the purpose of levying a special tax on all nonexempt real property within the area of the New Levee pursuant to Article XIIIC, Section 2(d) of the California Constitution and the City's Special Tax Financing Law, to finance City's acquisition of the New Levee Improvements from HCP and MetLife and the ongoing ATTY/RE50.0081/CC RESO SEAPORT LEVEE EASEMENT VACATION REV: 10-21-25 VR Page 2 of 4