Laserfiche WebLink
DISPOSITION AND DEVELOPMENT AGREEMENT <br /> (Block 2,Redwood Tower Project) <br /> THIS DISPOSITION AND DEVELOPMENT AGREEMENT {this "A�reement") is <br /> dated as of � ' D-., 2013 for reference purposes only, and is entered into by and between the <br /> CITY OF REDWOOD CITY, a charter city and California municipal corporation (the "Citv"), <br /> and REDWOOD CITY PARTNERS, LLC, a Delaware limited liability company (the <br /> "Develo�er") (collectively, the "Parties," and each a "Partv"). The Parties enter into this <br /> Agreement with reference to the following recited facts (collectively, the "Recitals," and each a <br /> "Recital"): <br /> RECITALS <br /> A. The City currently owns that certain real property generally located along <br /> Middlefield Road/Winslow Street and the Caltrain railroad station in Redwood City, the majority <br /> ' of which is currently used as a public parking lot (the "City Property"), in substantially the form <br /> , and size as more particulazly described by the metes and bounds description attached to this <br /> Agreement as Exhibit A and shown on the Map of the Site attached to this Agreement as <br /> Exhibit C,both of which exhibits are attached hereto and incorporated herein by reference. The <br /> City Property constitutes the majority of an area commonly refened to as "Block 2." The exact <br /> legal description of the City Property shall be determined upon fmal pazcelization of the City <br /> Property and shall be in substantially the same as that shown on Exhibits A and C. <br /> B. The Developer owns two parcels of real property on Block 2 that are not owned <br /> by the City, one of which is sometimes referred to as the "Restaurant Parcel," and the other <br /> sometimes referred to as the "Office Pazcel." The Restaurant Parcel and the Office Parcel <br /> (collectively, the "Developer Pronerty") are more particulazly described in the legal descriptions <br /> attached to this Agreement as Exhi6it B and shown on the Map of the Site (Exhibit C). The <br /> City Property and the Developer Property are collectively referred to herein as the"Site." <br /> C. The Developer desires to acquire the City Property from the City, and develop the <br /> Site for retaiUcommercial and o�ce uses. <br /> D. The City desires to sell and the Developer desires to purchase the City Property <br /> for the purpose of development of the Project on the Site on the terms and conditions set forth in <br /> this Agreement. <br /> NOW, THEREFORE, FOR GOOD AND VALUABLE CONSIDERATION, THE <br /> RECEIPT AND SUFFICIENCY OF WHICH THE PARTIES ACKNOWLEDGE, AND <br /> PURSUANT TO THE PROMISES AND COVENANTS SET FORTH IN THIS AGREEMENT, <br /> THE PARTIES AGREE, AS FOLLOWS: <br /> t <br /> 2013.118/BLOCK 2 HUNTER STORM <br /> REV:07-2E13 PT <br />