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,- <br /> • DES: yc :2 /17/71 <br /> 414 '7/ <br /> 1 <br /> R E S O L U T I O N NO. �T , �j <br /> RESOLUTION APPROVING AND AUTHORIZING EXECUTION OF <br /> AGREEMENT WITH AMPEX CORPORATION FOR CONSTRUCTION <br /> AND FINANCING OF CERTAIN PUBLIC IMPROVEMENTS IN <br /> CONNECTION WITH PROPOSED ABANDONMENT OF CERTAIN <br /> PORTIONS OF DESIGNATED PUBLIC STREETS <br /> WHEREAS, Ampex Corporation is the owner of certain real <br /> property abutting both sides of a portion of Broadway, and both <br /> sides of a portion of Douglas Avenue, in the City of Redwood City, <br /> which portions of Broadway and Douglas Avenue are more particularly <br /> described in that certain agreement hereinafter mentioned; and <br /> WHEREAS, said Company has a plan pertaining to the general <br /> development of its corporate facilities, which plan proposes <br /> utilization of the aforesaid portions of Broadway and Douglas <br /> Avenue for the construction of certain improvements in connection <br /> therewith; and <br /> WHEREAS, said plan and improvements will generally enhance <br /> the development of the area affected, and are compatible with <br /> municipal goals; and <br /> WHEREAS, said Company has requested that the City abandon <br /> the aforesaid portions of Broadway and Douglas Avenue, and proposes <br /> to finance the acquisition and construction of an alternate route <br /> for traffic necessitated by the aforesaid proposed abandonment, <br /> said alternate route being more particularly described in said <br /> agreement hereinafter mentioned; and <br /> WHEREAS, there has been presented to, and reviewed by, this <br /> Council, an agreement providing for the financing of the above <br /> mentioned alternate route by said Company and the construction <br /> thereof by the City, and including certain mutual obligations <br /> relative to the portions of the above mentioned streets proposed <br /> to be abandoned; and <br />