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WHEREAS, in order fairly and efficiently to determine between the parties <br />whether entering into a DDA serves their respective interests, Agency and <br />Participants desire to enter into an exclusive right to negotiate pursuant to which <br />Participants shall have the exclusive right, for a limited period of time, to <br />negotiate with Agency for a DDA for development of the Project Site; and <br /> <br /> WHEREAS, a proposed agreement providing for said exclusive right to <br />negotiate has been presented to, and reviewed by, this Board, and this Board <br />desires to signify its approval thereof and authorize its execution; <br /> <br /> NOW THEREFORE BE IT RESOLVED BY THE REDEVELOPMENT <br />AGENCY OF THE CITY OF REDWOOD CITY, AS FOLLOWS: <br /> <br /> That certain agreement by and between the Redevelopment Agency of <br />the City of Redwood City, a public body corporate and politic, Shea Homes, <br />Limited Partnership, a California limited partnership, and Irvine Apartment <br />Communities, L.P., a Delaware limited partnership, entitled, "Agreement for <br />Exclusive Right to Negotiate (Shea Homes Limited Partnership/Irvine Apartment <br />Communities)" (form dated 01/21/98), a copy of which agreement is on file with <br />the Clerk of this Agency, to which copy reference is hereby made for the full <br />particulars thereof, is hereby approved, and the Executive Officer and Clerk are <br />hereby authorized and directed to execute, and to attest thereto, respectively, <br />said agreement for and on behalf of the Redevelopment Agency of the City of <br />Redwood City. <br /> <br /> RD-005 <br /> F ; ISharedlRedwoodlCouncillReso ~ 9 8 -0 ~ <br /> DES:rg <br /> 01/21/98 <br /> <br /> <br />