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06/26/2017 <br />RESOLUTION NO. 15598 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br />CITY 1) APPROVING AND AUTHORIZING THE CITY MANAGER TO <br />EXECUTE AN AGREEMENT TO FUND REQUIRED IMPROVEMENTS <br />FOR THE DEVELOPMENT AT 550 ALLERTON STREET, AND 2) <br />APPROVING AN APPROPRIATION AMENDMENT TO THE FISCAL <br />YEAR 2016-2017 VARIOUS TRANSPORTATION GRANTS FUND TO <br />INCREASE EXPENDITURES BY $90,736 <br />WHEREAS, on June 10, 2015, the Subdivision Committee and Zoning <br />Administrator approved a Tentative Parcel Map and a Downtown Planned Community <br />Permit for the development of an office building at 550 Allerton Street; and <br />WHEREAS, Condition 17(e) of the conditions of approval of the project provide <br />that the developer shall enter into an agreement with the City for off-site improvements <br />at the intersection of Winslow, Bradford, and Allerton Streets; and <br />WHEREAS, the City Council wishes to approve and authorize the City Manager <br />to execute an Agreement to Fund Required Improvements for the development at 550 <br />Allerton Street, and to amend the expenditure budget of the Fiscal Year 2016-2017 <br />Various Transportation Grants Fund to facilitate certain terms of the Agreement. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF REDWOOD CITY AS FOLLOWS: <br />Section 1. The City Council approves, and the City Manager is authorized to <br />execute, an Agreement to Fund Required Improvements for the development at 550 <br />Allerton Street, as set forth in Attachment 1 to the staff report. <br />Section 2. An appropriation amendment to the Fiscal Year 2016-2017 Various <br />Transportation Grants Fund to increase expenditures by Ninety Thousand Seven <br />Hundred and Thirty -Six Dollars ($90,736) is hereby approved. <br />ATTY/RESO.0058/CC RESO APPROVE AGREEMENT & APPROPRIATION TO FUND 550 ALLERTON STREET RESO. NO. 15598 <br />REV: 06-15-17 PR MUFF NO. 304 <br />Page 1 of 1 <br />