Laserfiche WebLink
6.3G <br />Page 7 <br />ATTACHIAENT v~- <br />BID PROPOSAL <br />FOR PROPERTY MANAGEMENT AND PROPERTY ASSET MANAGEMENT <br />FOR TWENTY THREE (23) UNITS OF MULTI-FAMILY HOUSING AT <br />1306 MAIN STREET, REDWOOD CITY <br />The undersigned, as Bidder, hereby certifies that he/she has attended the <br />mandatory pre-bid meeting and examined the property located at 1306 Main <br />Street, Redwood City, California, consisting of a three story building comprising <br />22 studios and a one bedroom unit (the "Property"). <br />Bidder is aware of the Affordability Covenants that restrict the use of the <br />property to occupancy by low or very low income households. Bidder is also <br />aware of the restrictions which exist or will exist on the Property, including, but <br />not limited to zoning, set back, and other use restrictions. <br />Upon receipt of Proposals from prospective bidders and award by the <br />Redwood City Council, the most responsible bidder will be required to enter into <br />a Development and Disposition Agreement (DDA), which agreement shall <br />include, but shall not be limited to, the following terms: <br />Term of Management <br />1 year at the outset and continuing for <br />the remaining period of affordability <br />upon transfer of property, pursuant to a <br />DDA <br />Period of Affordability <br />Development & Disposition <br />Agreement <br />Minimum is 55 years <br />Executed within one year (12) <br />months after bid award of option. <br />Proposal <br />F1sh1shlRClCouncil <br />FXS:rg <br />10/28/97 <br />