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WHEREAS, this Agency desires to obtain the assistance of <br />Diversified Marina Enterprises ("DME") to create a viable plan <br />and implementation program for the redevelopment of Area <br />C; and <br /> <br /> WHEREAS, the City of Redwood City is the owner of real <br />property located within "Area C Marina Project," part of which <br />real property has been used as a sewerage facility and part of <br />which is used as a park; and <br /> <br /> WHEREAS, the City Council has evidenced its intention <br /> <br />to declare the Property surplus and to transfer said Property <br />to this Agency at such time as accurate legal description of <br />said Property can be established; and <br /> <br /> WHEREAS, DME has proposed to this Agency that it will so <br />assist this Agency if 'this Agency will grant to DME an exclusive <br />right to negotiate for a ground lease of the Property, and all <br />or a portion of the balance of Area C, as may hereafter be <br />appropriate; and <br /> <br /> WHEREAS, there has been presented to this Agency an <br />agreement entitled "Exclusive Right to Negotiate (Marina <br />Redevelopment Project Area)"; and <br /> <br /> WHEREAS, it is the intent of this Agency to approve said <br /> <br />agreement and to authorize its execution; <br /> NOW, THEREFORE; <br /> <br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF REDWOOD CITY <br />ACTING AS THE REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY, <br />AS FOLLOWS: <br /> <br /> That agreement by and between the Redevelopment Agency <br /> <br />of the City of Redwood City and Diversified Marina Enterprises, <br />entitled "Exclusive Right to Negotiate Marina Redevelopment <br /> <br /> -2- <br /> <br /> <br />