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approve the transfer of the housing assets to the City of Redwood City as the Housing <br /> Successor Agency; and <br /> WHEREAS, the Successor Agency requests that the Oversight Board approve <br /> and direct, and thereby ratify, the transfer of the following housing assets to the City of <br /> Redwood City as the Housing Successor for the dissolved Agency: <br /> Loans Receivable $4,433,601 <br /> Interest Receivable 549,281 <br /> SERAF Advance Receivable 2,250,270 <br /> Total Housing Assets $7,233,152 <br /> NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR <br /> AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY DOES HEREBY <br /> RESOLVE AS FOLLOWS: <br /> Section 1. The recitals set forth above are true and correct and incorporated <br /> herein. <br /> Section 2. The Oversight Board hereby approves and directs, and thereby <br /> ratifies, the transfer of the housing assets, including the Loans Receivable, Interest <br /> Receivable, and SERAF Advance Receivable as identified above, to the City of <br /> Redwood City as the Housing Successor Agency for the dissolved Agency. <br /> Section 3. This resolution takes effect upon adoption. <br /> * * * <br /> ATTY/RES0.2957/OB APPROVING TRANSFER OF HOUSING ASSETS RESO.OB.#14-02 <br /> REV:02-05-14 VR <br /> Page 2 of 2 <br />