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EXHIBIT 1 <br />AGREEMENT WITH PENINSULA HABITAT FOR HUMANITY <br />IN CONNECTION WITH LAND ACQUISITION THROUGH CDBG AND HOME <br />FUNDS <br />(3426, 3436, 3446, 3456, 3466, 3476-3480, and 3486 Rolison <br />Road and 1181 Haven Avenue) <br />THIS AGREEMENT, made and entered into this 12th day of <br />Mav . 2000, by and between the City of Redwood City, a <br />Municipal Corporation ("CITY") the Redevelopment Agency of the City of <br />Redwood City ("AGENCY"), and Peninsula Habitat For Humanity, Inc., a <br />California nonprofit corporation, ("HABITAT"). <br />WITNESSETH: <br />WHEREAS, pursuant to Section 24 of the Code of Federal Regulations, <br />570.606(c)(1) requires one for one replacement of all housing units occupied by <br />low income persons that are removed or converted using federal funds; and <br />WHEREAS, pursuant to Section 24 of the Code of Federal Regulations, <br />Part 92 for the HOME Investment Partnership Program (HOME), funding <br />assistance may be used to fund eligible activities to be carried out by private <br />non-profit entities or public agencies which are duly organized to undertake <br />affordable ownership housing development; and <br />WHEREAS, pursuant to Section 33334.2 Et Seq. of the Health and Safety <br />Code, the Redevelopment AGENCY is authorized to sponsor development of <br />affordable housing; and <br />WHEREAS, the City's Consolidated Plan and Housing Element goals <br />include expanding the supply of affordable ownership housing for Redwood City <br />households; and <br />WHEREAS, HABITAT has requested land purchased under the HOME <br />Program in the City of Redwood City; <br />WHEREAS, AGENCY proposes to transfer land to HABITAT to build <br />replacement units at 3426, 3436, 3446, 3456, 3466, 3476-3480, and 3486 <br />Rolison Road and 1181 Haven Avenue, (the "Property"), land located in Census <br />Tract 6104, in the City of Redwood City; and <br />WHEREAS, HABITAT has agreed to pursue property acquisition for the <br />purpose of building thirty six affordable ownership replacement housing in the <br />City of Redwood City as required under Section 104(d) of the Housing and <br />Community Development Act, as amended; and <br />Acquisition - h1 1 <br />FXS:fs <br />04/14/00 <br />