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10/29/2015 <br /> RESOLUTION NO. OB-15-05 <br /> RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR <br /> AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY <br /> APPROVING AND AUTHORIZING AN OMNIBUS AMENDMENT TO <br /> LOAN MODIFICATION BY AND AMONG THE CITY OF REDWOOD <br /> CITY AS HOUSING SUCCESSOR AGENCY TO THE REDWOOD CITY <br /> REDEVELOPMENT AGENCY, THE SUCCESSOR AGENCY, MEZES <br /> COURT ASSOCIATES AND A TO BE FORMED LIMITED <br /> PARTNERSHIP <br /> WHEREAS, under AB 1X 26, enacted by the California State Legislature and <br /> signed by the Governor as part of the 2011-2012 State budget, a new Part 1.85 was <br /> added to Division 24 of the California Health and Safety Code (Health and Safety Code <br /> Section 34170 et seq., as may be amended, the "Dissolution Act") and, in accordance <br /> therewith, all redevelopment agencies in the State of California, including the Redwood <br /> City Redevelopment Agency ("Redevelopment Agency"), were dissolved as of February <br /> 1, 2012; and <br /> WHEREAS, in compliance with the Dissolution Act, the City of Redwood City <br /> ("City") determined it would serve as the Successor Agency to the Redwood City <br /> Redevelopment Agency ("Successor Agency") effective February 1, 2012; and <br /> WHEREAS, the Oversight Board of the Successor Agency to the Redwood City <br /> Redevelopment Agency ("Oversight Board") has been established to oversee the <br /> Successor Agency's actions in winding down the affairs of the Redevelopment Agency <br /> in accordance with the Dissolution Act; and <br /> WHEREAS, Mezes Court Associates, a California Limited Partnership <br /> ("Borrower") has requested a modification to the loan by and between Borrower and the <br /> City of Redwood City as Successor Agency to the Redwood City Redevelopment <br /> Agency ("RDA"); and <br /> ATTY/RES0.3150/OB RESO AUTHORIZING LOAN MODIFICATION FOR MCA OB RESO 15-05 <br /> REV: 10-29-15 VR <br /> Page 1 of 4 <br />