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8.B.-Page9 <br /> ATTACHMENT 2 <br /> RESOLUTION NO. <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br /> CITY (1) CONFIRMING IT WILL SERVE AS SUCCESSOR AGENCY TO <br /> THE REDEVELOPMENT AGENCY OF REDWOOD CITY, AND (2) <br /> ELECTING TO RETAIN THE HOUSING ASSETS AND FUNCTIONS <br /> PREVIOUSLY HELD AND PERFORMED BY THE AGENCY <br /> WHEREAS, the Redevelopment Agency of the City of Redwood City ("Agency") <br /> is a redevelopment agency organized and existing under the California Community <br /> Redevelopment Law (Health and Safety Code § 33000, et se�c.) ("CRL"); and <br /> WHEREAS, the City Council of the City of Redwood City ("City") approved and <br /> adopted the Redevelopment Plan for the Redevelopment Project No. 2 <br /> ("Redevelopment Plan") covering certain properties within the City (the "Project Area"); <br /> and <br /> WHEREAS, the Agency has been authorized to transact business and exercise <br /> the powers of a redevelopment agency, including engaging in activities to execute and <br /> implement the Redevelopment Plan pursuant to the CRL; and <br /> WHEREAS, since adoption of the Redevelopment Plan, the Agency has <br /> undertaken redevelopment projects in the Project Area to eliminate blight, to improve <br /> public facilities and infrastructure, to renovate and construct affordable housing, and to <br /> enter into partnerships with private industries to create jobs and expand the local <br /> economy; and <br /> WHEREAS, as part of the 2011-12 State budget bill, the California Legislature <br /> has recently enacted, and the Governor has signed, companion bills AB 1 X 26 and AB <br /> 1 X 27, requiring that each redevelopment agency be dissolved unless the community <br /> that created it enacts an ordinance committing it to making certain payments; and <br /> WHEREAS, AB 1 X 26 also required each city to determine whether it wishes to <br /> serve as "Successor Agency" of its redevelopment agency by September 1, 2011 if the <br /> city has determined not to participate in the Voluntary Alternative Redevelopment <br /> Program or if the City has not yet made such a determination; and <br /> ATTY/RES0.2194 /CC CONFIRMING SUCCESSOR AGENCY AND ELECTING HOUSING SUCCESSOR <br /> REV:01 /19/12 <br /> Page 1 of 3 <br />