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<br />03/14/2005 <br /> <br />ORIGINAL <br /> <br />RESOLUTION NO. RD 05-03 <br /> <br />RESOLUTION OF THE REDWOOD CITY REDEVELOPMENT AGENCY <br />APPROVING THE DISPOSITION AND DEVELOPMENT AGREEMENT <br />BY AND BETWEEN THE REDWOOD CITY REDEVELOPMENT <br />AGENCY AND PENINSULA HABITAT FOR HUMANITY <br /> <br />WHEREAS, the Redwood City Redevelopment Agency (the "Agency") has been <br />duly created and activated pursuant to the provisions of Section 33100, et seQ. 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 /> <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 /> <br />WHEREAS, Peninsula Habitat For Humanity (the "Developer") seeks to acquire <br />and develop property to be included in the development of an eight (8) unit affordable <br />housing complex to be reserved for the occupancy of very low income households; and <br /> <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 /> <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 /> <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 /> <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 /> <br />WHEREAS, the Agency and City Council have held a duly noticed joint public <br />hearing on February 28, 2005, in accordance with Sections 33431 and 33433 of the <br />California Health and Safety Code pertaining to the Agreement and have caused the <br />preparation of, and made available for public inspection, a report including a summary <br />of the transaction; and <br /> <br />WHEREAS, the Agency and the City Council have evaluated the Agreement <br />and all evidence and testimony for and against the approval of the Agreement; and <br /> <br />Atty/Reso/Reso.1521 <br />022205/GdB&Q <br /> <br />1 <br /> <br />RD 05-03 <br />Muff # 405 <br />