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6.1A Page 7 Recommendation: Approve, by resotution, authorization for the issuance and sale of Special Tax Bonds for and on behalf of the City of Redwood Cityr Community Facilities District No. 201�-1 (One Marina) and approval of all documents and agreements, inctuding the Preliminary Official Statement, necessary to issue such bonds. RESOLUTION No. 15Q71 AUTHORIZING THE ISSUANCE OF SPECIAL TAX BONDS FOR AND ON BEHALF UF THE CITY OF REDWOOD CITY C�MMUNITY FACILITtES DISTRICT N�. 2010-1 (ONE MARINA),APPROVING THE FORM OF AND DIRECTING THE EXECUTION OF A FISCAL AGENT AGREEMENT, AN ACQUISITION AGREEMENT, A CONTINUING DISCLOSURE AGREEMENT AND A BQND PURCHASE CONTACT, APPROVING THE FORA�1 OF OFFICIAL STATEMENT, APPROVING SALE OF BONDS, AND APPROVING QTHER RElATED DOrCUMENTS AND ACTIONS Mr. Ponty, Finance Director, introduc�d the item noting that this is the third actan in a series. He delineated the items before Council for consideration and noted that, if approved, would allow the sale of $8 million in bonds secured by the land in the One Marina Community Facilities D�strict. He said there would be no general fund commitment from the city. A Council Member expressed pleasure that there will be 235 new homes, but also disappomtment that there had been an opportunity for a greater number of new homes. She publicly thanked Mr. Power�, the developer, for his commitment to the community and that the city is getting some much-needed add�tional housing. M/S Gee/Aguirre to approve these items. Motion carried 7-0 by electronic vote. D. High,Speed Rail program status update. Recammendation: Receive stafFs program status update and provide additional input, guidance, and direction. TF�is is an infarmation-only staff report. Mr. Chang, Director of Building, Infrastructure and Transportation, made a prese�tation to Council (on file}. He provided a pragram update, explained how they have actively engaged the community and various groups, including a Congress'ronal representative in various ways and at multiple meetings. Ms. Ekas, Director of Planning, Housing, and Economic Development, continued the presentation (on file) on the direction of the New General Plan, the vision for downtown, Redwood City as a regional, collaborative leader, and maintaining the City's fiscal health via twa policies. The two policies are to"foster regional collaboration on housing, transportation, and infrastructure" and "work to ensure that Redwood City capitalizes on any benefits that can be derived from high speed rail and minimizes 2�ny poterrtial disadvantages." A Council Member, who is on the High Speed Rail ad hoc committee, said she wanted ta assure the community, residents, and staff that they arc activefy engaged in this JOINT CITY COUNCIL/REDEVELOPMENT AGENCY BOARD December 6,2010 MEETING MINUTES PAGE 7 � ---- ------- ----------- —- — -- -- --- -- _ _ _---