Res82 RD-82-09 - Laserfiche WebLink

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C. If the Agency approves the Redevelopment Participation Proposal and determines that the proposer has the ability to complete his participation in accordance with the Redevelopment Plan, the Agency may offer the owner a Participation Agreement. D. The following are the minimum requirements that must be met regarding the property involved: (i) the property shall meet, or shall be brought up to meet, at the owner's expense, a structural condition equal to or better than that required for a new structure or improvement of equivalent size, location, use and oc- cupancy as required by the building and safety laws and regulations then applicable in the City of Redwood City. (ii) the improvements as existing or rehabilitated shall conform to the Redevelopment Plan. (iii) the owner shall demonstrate to the satisfaction of the Agency that he is financially capable of perform- ing any and all modifications or rehabilitation or mod- ernization on the existing property in order that it will conform to the Redevelopment Plan. E. The participating owner shall execute a Participation Agreement in which he shall agree to proceed with the redevel- opment of the property involved in accordance with the Redeve- lopment Plan. F. In the Participation Agreement, a participating owner shall agree to remove, demolish, alter, improve or rehabilitate existing structures and improvements on the property involved and to thereafter use and maintain the same in such manner as shall be required by said Redevelopment Plan and the Declarat- ion of Restrictions. G. In the Participation Agreement, a participating owner shall agree to remove or permit the Agency to remove any and all restrictions existing against the property involved which are contrary to those contained in the Redevelopment Plan or the Declaration of Restrictions and to impose or permit the