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10/22/01 <br /> <br /> ORIGINAL <br /> ORDINANCE NO. 2218 <br /> <br /> ORDINANCE AUTHORIZING EXECUTION OF DEED OF <br /> CONVEYANCE TO THE REDEVELOPMENT AGENCY OF THE <br /> CITY OF REDWOOD CITY <br /> <br /> (561-563 DOUGLAS STREET) <br /> <br /> WHEREAS, the City of Redwood City owns the property located at 561- <br />563 Douglas Street, in the City of Redwood City, and more fully described on <br />Exhibit "A," (the "Subject Property"); and <br /> <br /> WHEREAS, the Redevelopment Agency of the City of Redwood City (the <br />"Agency") desires to acquire the Subject Property from the City of Redwood City; <br />and <br /> <br /> WHEREAS, the City of Redwood City desires to transfer the Subject <br />Property to the Redevelopment Agency for the purpose of making the Subject <br />Property available to teachers or for the benefit of certain residents of the City of <br />Redwood City, as further determined by the Board of the Redevelopment <br />Agency; and <br /> <br /> WHEREAS, the Subject Property is not used by City for municipal <br />purposes; and <br /> <br /> WHEREAS, the City desires to convey title to the Subject Property to the <br />Agency for the consideration of the sum of Four Hundred Fifty-Five Thousand <br />Dollars and no/100 ($455,000.00), payable upon transfer of title of the Subject <br />Property. <br /> <br />Ord-2001 1 <br />FXS:dr <br />09/18/01 <br /> <br /> <br />