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12. STAFF REPORTS - CITY COUNCIL AND REDEVELOPMENT AGENCY <br /> <br /> A. Amendment to the loan agreement between the City of Redwood City and the <br /> Redwood City Redevelopment Agency <br /> <br /> Staff contact: Susan Moeller, Redevelopment Manager 780-7240 smoeller~,redwoodcit¥.or.q <br /> <br /> Recommendation: <br /> Approve the amendment to the loan agreement between the City of Redwood City <br /> (City) and the Redwood City Redevelopment Agency (Agency) adjusting the <br /> interest rate to an amount equal to the City's actual rate of return. <br /> <br /> B. Construction and Reimbursement Agreement for Underground Public Parking <br /> Garage in the Downtown area <br /> <br /> Staff contact: Pat Webb, Economic Development Coordinator <br /> 780-7293 patwebb~.redwoodcit¥.or.q <br /> <br /> Recommendation: <br /> <br /> 1. Authorize the City Manager and the Redevelopment Agency Executive Director <br /> to execute a Construction and Reimbursement Agreement with BHV Innisfree <br /> Ventures, I, LLC, developers of the Downtown Retail-Cinema project; for <br />- construction of an underground public parking garage <br /> <br /> 2. Appropriate $18.2M for the above from the $20M loan from the City to the <br /> Agency which will be paid back to the City from the Redevelopment Agency's <br /> bond as part of the Downtown Funding Plan <br /> <br /> C. Second Implementation Agreement for Amended and Restated Disposition and <br /> Development Agreement for Downtown Retail-Cinema and Parking Project <br /> <br /> Staff contact: Pat Webb, Economic Development Coordinator <br /> 780-7293 patwebb~redwoodcity.or.q <br /> <br /> Recommendation: <br /> Approve a Second Implementation Agreement with the City of Redwood City, the <br /> Redevelopment Agency and BHV Innisfree Ventures, I, LLC, developers fo the <br /> project, for the Amended and Restated Disposition and Development Agreement <br /> for the Downtown Retail-Cinema and Parking Project and authorize the City <br /> Manager and the Redevelopment Agency Executive Director to execute same. <br /> <br /> JOINT REGULAR CITY COUNCIL SEPTEMBER 22, 2003 <br /> AND REDEVELOPMENT AGENCY MEETING AGENDA PAGE 7 <br /> <br /> <br />