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01/28/2013 Exhibit A AGREEMENT FOR PAYMENT OF CALPERS PENSION AND RETIREE HEALTH BENEFIT UNFUNDED LIABILITITES This AGREEMENT ("Agreement") is made and entered into as of this day of , 2013 ("Effective Date") by and between the CITY OF REDWOOD CITY, a charter city and California municipal corporation ("City") and the SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY, ("Successor Agency"). The City and Successor Agency are hereinafter collectively referred to as "Parties." RECITALS A. Under AB Xl 26, a new Part 1.85 was added to Division 24 of the California Health and Safety Code (Health and Safety Code Section 34170 et seq., as amended by the December 29, 2011 decision of the California Supreme Court and AB 1484, enacted as part of the 2012-2013 state budget, the "Dissolution Act") and, in accordance therewith, all redevelopment agencies in the State of California, including the Redwood City Redevelopment Agency("Redevelopment Agency"), were dissolved as of February 1, 2012. B. In compliance with the Dissolution Act, the City determined it would serve as the Successor Agency effective February 1, 2012. C. Pursuant to the Dissolution Act, members making up the oversight board of the Successor Agency ("Oversight Board") have been duly appointed. D. The Dissolution Act tasks the Successor Agency and the Oversight Board with winding down the affairs of the former Redevelopment Agency, including payment of the former Redevelopment Agency's enforceable obligations. E. Pursuant to Section 34171(d)(1)(C) of the Dissolution Act, payments required in connection with the former Redevelopment Agency's employees, including but not limited to, pension payments, pension obligation debt service, unemployment payments, or other obligation conferred through a collective bargaining agreement are enforceable obligations. F. The Redevelopment Agency did not have any direct employees, but several employees performed work for the Redevelopment Agency and the Redevelopment Agency contributed toward their salaries. The accrued Ca1PERS pension and retiree health benefit obligations have historically been funded by the Redevelopment Agency in an amount directly proportionate to each employee's pro rata share of redevelopment work performed. The unfunded liabilities for pension benefits and retiree health benefits attributable to employees who provided services to the former Redevelopment Agency and payable to Ca1PERS as set forth in Exhibit A ("Unfunded Liabilities"), attached hereto and incorporated herein by this reference, are legacy costs of the former Redevelopment Agency that the Successor Agency is responsible for paying. ATTY/AGR/2012.103/RDA PERS UNFUNDED LIABILITIES AGREEMENT REV:01-17-13 VR Page 1 of 5 � RESO.#15242 MUFF#904