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ATTY/RESO.0130/CC RESO APPROVING PURCHASE AND SALE AGREEMENT OF REAL PROPERTY REV: 12-18-25 VR Page 1 of 2 RESOLUTION NO. 16382 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING A PURCHASE AND SALE AGREEMENT BETWEEN THE CITY OF REDWOOD CITY, AS BUYER, AND THE SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY, AS SELLER, FOR THE PURCHASE OF REAL PROPERTY IDENTIFIED AS ASSESSOR’S PARCEL NUMBER 053-182-030 WHEREAS, the Successor Agency to the Redwood City Redevelopment Agency (”Successor Agency”) desires to sell certain real property identified as Assessor's Parcel Number 053-182-030 (the “Property”) which is currently improved with stormwater infrastructure; and WHEREAS, the City of Redwood City (“City”) desires to purchase the Property to maintain the current stormwater infrastructure and develop wastewater infrastructure improvements and/or outdoor recreational space, or for other governmental use to be determined by the City; and WHEREAS, the disposition of Successor Agency property is subject to review and approval by the San Mateo County Oversight Board (“Oversight Board”) and the State Department of Finance (“DOF”) pursuant to Dissolution Law; and WHEREAS, the Successor Agency will sell the property to the City for $900,000, which is the fair market value as established pursuant to the appraisal for the Property dated May 6, 2025; and WHEREAS, the City appropriated funds in the adopted Fiscal Year 25/26 budget from the Wastewater Fund to acquire the Property. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY AS FOLLOWS: 1.The City Council approves the Purchase and Sale Agreement (“Agreement”) between the City of Redwood City and Successor Agency to the Redwood City Redevelopment Agency for the purchase of real property identified as Assessor's Parcel Number 053-182-030 in the amount of $900,000, substantially in the form attached as Exhibit A to this Resolution, and authorizes up to an additional $5,000 for incidental costs related to conveyance. 2. The Mayor, or their designee, is hereby authorized to do all things that they may deem necessary or proper to effectuate the purposes of this Resolution and implement the Agreement after the Successor Agency has obtained Oversight Board and DOF approval, including the execution and recordation of deeds and documents contemplated by the Agreement, and taking other appropriate actions to perform the obligations and exercise the rights of the City under the terms detailed in Agreement.