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ATTY/RESO.0051/CC RESO CONDITIONALLY VACATING SPRING STREET SEGMENT (PURCHASE AND SALE AGR)
<br />REV: 07-21-26 MI
<br />Page 1 of 4
<br />RESOLUTION NO. 16431
<br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD
<br />CITY CONDITIONALLY VACATING THE SPRING STREET SEGMENT
<br />(CONSISTING OF A PORTION OF SPRING STREET AND A REMNANT
<br />CITY PARKLET LOCATED AT MARSHALL AND WALNUT STREETS) IN
<br />THE CITY OF REDWOOD CITY PURSUANT TO CALIFORNIA STREETS
<br />AND HIGHWAYS CODE, COMMENCING WITH SECTION 8300; AND
<br />APPROVING A PURCHASE AND SALE AGREEMENT BETWEEN CITY
<br />OF REDWOOD CITY AND 1900 BROADWAY DEVELOPER FOR
<br />PURCHASE OF THE SPRING STREET SEGMENT
<br />WHEREAS, on October 28, 2024, the City Council of the City of Redwood City
<br />(“City Council”) approved a Downtown Planned Community Permit, Vesting Tentative
<br />Map, and a Use Permit for the development of a 7-story, 92-foot tall, approximately
<br />256,205 square foot mixed-use commercial office building with approximately 10,060
<br />square feet of ground floor retail space, approximately 1,000 square feet for a community
<br />room, 715 square feet for a storage space, and an approximately 12,085 square foot
<br />public plaza at 1900 Broadway with an off-site affordable housing land donation (the
<br />“Project”), and on November 25, 2024, the City Council adopted an ordinance approving
<br />a Development Agreement (“DA”) between the City of Redwood City and the developer,
<br />Lane 1900 Broadway Owner, LLC (“Lane”), as part of the Project; and
<br />WHEREAS, on February 20, 2026, 1900 Broadway Owner, LLC, acquired fee
<br />ownership of 1900 Broadway from Lane, and assumed, pursuant to that certain
<br />Assignment and Assumption Agreement, recorded with the County of San Mateo
<br />Recorder’s Office on February 23, 2026, as Instrument No. 2026-008923, all rights,
<br />duties, and obligations of Lane under the DA with respect to the Project, and is hereinafter
<br />referred to as “Developer”; and
<br />WHEREAS, as a required component of the Project’s land assembly and site
<br />development, the Developer seeks to vacate and acquire a portion of Spring Street,
<br />located between Main and Walnut Streets, and an adjacent small parklet parcel owned
<br />by the City and located in the northern and north-eastern boundary of 1900 Broadway, in
<br />the City of Redwood City, as described in Exhibit 1, attached hereto and made a part
<br />hereof, and hereinafter collectively referred to as the “Spring Street Segment;” and
<br />WHEREAS, pursuant to California Streets and Highways Code Section 8320, a
<br />resolution noticing the City’s intent to vacate the Spring Street Segment and setting the
<br />public hearing on the vacation for July 27, 2026, was approved by the City Council on
<br />June 22, 2026; and
<br />WHEREAS, notice of the hearing on the proposed vacation was published for at
<br />least two successive weeks prior to the July 27, 2026, hearing in San Mateo Daily Journal,
<br />notice was posted conspicuously along the line of the Spring Street Segment in at least
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