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aTTac 6.3.D. - Page 3 <br /> RESOLUTION NO. <br /> RESOLUTION APPROVING AN APPROPRIATION IN THE <br /> AMOUNT OF $400,000 WITHIN THE REDWOOD CITY CAPITAL <br /> OUTLAY FUND FOR THE BLOCK 2 DEVELOPMENT PROJECT <br /> AND REDUCING THE APPROPRIATION FOR CONTINGENCIES <br /> IN THE CAPITAL OUTLAY FUND IN AN EQUIVALENT AMOUNT <br /> WHEREAS, a fund known as the Capital Outlay Fund has been <br /> established; and <br /> WHEREAS, the City owns the property bounded by Middlefield Road, <br /> Winslow Street and Pennsylvania Avenue, generally known as Block 2; and <br /> WHEREAS, the Union Pacific Railroad Company has an interest in a <br /> portion of the City-owned property, which rights they are willing to sell; and <br /> WHEREAS, the Community Development Department intends to sell <br /> Block 2 for private development and requires clear title to the entire City-owned <br /> parcel; and <br /> WHEREAS, City staff has requested that the City Council approve an <br /> appropriation from the Capital Outlay Fund for the Block 2 Development Project <br /> in the amount of Four Hundred Thousand ($400,000) dollars for the purposes of <br /> this project and reduce the appropriation for contingencies within the Capital <br /> Outlay Fund in an equivalent amount. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE <br /> CITY OF REDWOOD CITY, AS FOLLOWS: <br /> 1. The sum of Four Hundred Thousand dollars ($400,000) to be <br /> appropriated in the Capital Outlay Fund for the Block 2 Development Project and <br /> reduce the appropriation for contingencies within the Capital Outlay Fund in an <br /> equivalent amount. <br /> * * * <br /> ATTY/RES0.2840/APPROVING AN APPROPRIATION WITHIN THE RWC CAPITAL PROJECTS FUND BLOCK 2 <br /> REV:03-14-13 VR <br /> Page 1 of 1 <br />