Laserfiche WebLink
12/09/02 <br />O R I G I N A L <br />RESOLUTION NO. 14487 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD <br />CITY APPROVING AND AUTHORIZING EXECUTION OF AN <br />AMENDED AND RESTATED DISPOSITION AND DEVELOPMENT <br />AGREEMENT BY AND BETWEEN THE CITY, THE REDEVELOPMENT <br />AGENCY OF THE CITY OF REDWOOD CITY AND BHV INNISFREE <br />VENTURES I,LLC <br />WHEREAS, pursuant to the California Community Redevelopment Law (Health <br />and Safety Code Section 33000 et seq.), the Redwood City Redevelopment Agency <br />(the "Agency ") is carrying out the Redevelopment Plan (the "Redevelopment Plan ") for <br />Redevelopment Project No. 2 (the 'Redevelopment Project'); and <br />WHEREAS, the Agency, the City and BHV Innisfree Ventures I, LLC, a California <br />limited liability company (the "Developer"), previously entered into a Disposition and <br />Development Agreement, dated January 29, 2001; and <br />WHEREAS, due to changed circumstances, the parties desire to enter into an <br />Amended and Restated Disposition and Development Agreement (the "DDA "), providing <br />for the disposition of certain real property (the "Parcels ") to the Developer for <br />development and construction of a two -level retail- cinema project (the 'Project'); and <br />WHEREAS, the Community Redevelopment Law of the State of California <br />(Health and Safety Code Section 33000 et seq.) provides in Section 33431 that any sale <br />or lease of Agency property may be made only after a public hearing of the Agency after <br />publication of notice as provided by law; and <br />WHEREAS, the Community Redevelopment Law further provides in Section <br />33433 that before any property acquired, in whole or in part, with tax increment monies <br />is sold or leased for development pursuant to a redevelopment plan, such sale or lease <br />shall first be approved by the legislative body after a public hearing, that notice of the <br />time and place of the public hearing shall be published in a newspaper of general <br />circulation in the community for at least two (2) successive weeks prior to the public <br />hearing, and that the Agency shall make available for public inspection a report <br />containing a copy of the proposed sale or lease and a summary of the financial and <br />other aspects of the proposal; and <br />WHEREAS, the Agency has prepared its report on the proposed DDA (the <br />"Report") as required by Section 33433 of the Community Redevelopment Law; and <br />F:Atty /Reso /Reso.1351 <br />121002 1 <br />