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111FPZYK111 <br />ORIGINAL <br />RESOLUTION NO. 14624 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br />CITY, CALIFORNIA, APPROVING THE DISPOSITION AND <br />DEVELOPMENT AGREEMENT BY AND BETWEEN THE REDWOOD <br />CITY REDEVELOPMENT AGENCY AND FIRST COMMUNITY <br />HOUSING, INC. <br />WHEREAS, the Redwood City Redevelopment Agency (the "Agency ") has been <br />duly created and activated pursuant to the provisions of Section 33100, et seg. of the <br />Health and Safety Code of the State of California by a duly adopted Ordinance of the <br />City of Redwood City, California; and <br />WHEREAS, the City Council of the City of Redwood City, California (the "City <br />Council ") along with the Agency have caused the adoption of a Redevelopment Plan for <br />Project Area No. 2, as amended (the "Redevelopment Plan "); and <br />WHEREAS, First Community Housing, Inc. (the "Developer") seeks to acquire <br />and develop property to be included in the development of a fifty -eight (58) unit <br />affordable housing complex to be reserved for the occupancy of extremely low to low <br />income households; and <br />WHEREAS, the Agency currently owns or will own certain property (the <br />"Property ") which is located within the Project Area subject to the Redevelopment Plan; <br />and <br />WHEREAS, the Developer has indicated that Developer desires to acquire the <br />Property from the Agency in order to cause a development in accordance with the <br />Redevelopment Plan; and <br />WHEREAS, the Agency deems it desirable to enter into a Disposition and <br />Development Agreement (the "Agreement ") with the Developer, a copy of which is on <br />file with the City Clerk's Office; and <br />WHEREAS, on November, 16, 2004 the Planning Commission for the City of <br />Redwood City considered and approved a mitigated negative declaration for the <br />Property; and <br />WHEREAS, the Agency and City Council held a duly noticed joint public hearing <br />on January 24, 2005, in accordance with Sections 33431 and 33433 of the California <br />Health and Safety Code pertaining to the Agreement and have caused the preparation <br />of, and made available for public inspection, a report including a summary of the <br />transaction; and <br />Atty /Reso /Reso.1516 14624 <br />012005 /Gdb&Q 1 Muff # 401 <br />