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5/17/99 <br /> ORIGINAL - <br /> <br /> RESOLUTION NO. RD-99-24 RD 99-24 <br /> <br /> RESOLUTION APPROVING AND AUTHORIZING EXECUTION <br /> OF AGREEMENT FOR EXCLUSIVE RIGHT TO NEGOTIATE <br /> <br /> (WESTERN INVESTMENT REAL ESTATE TRUST AND THE <br /> INNISFREE COMPANIES) <br /> <br /> WHEREAS, Western Investment Real Estate Trust and The Innisfree <br />Companies (collectively, "Developers"), in response to a Request for Proposals <br />issued by this Agency, propose to redevelop a portion of the City of Redwood <br />City commonly referred to as the Downtown Retail-Cinema Project Area (the <br />"Project Site") in pursuit of the objectives stated in the General Plan of the City of <br />Redwood City and the Redevelopment Plan for Redwood City Redevelopment <br />Project No. 2; and <br /> <br /> WHEREAS, the Project Site is within an area of the City which has been <br />designated as a Redevelopment Project Area; and <br /> <br /> WHEREAS, this Agency contacted all owners of property within the <br />Project Site to ascertain if they desired to exercise their owner participation rights <br />under the Community Redevelopment Law (Health & Saf. Code §33000, et <br />seq.), but no owner proposed to exercise such rights; and <br /> <br /> WHEREAS, redevelopment of the Project Site requires the <br />acquisition and assemblage of parcels of real property therein, the relocation of <br />existing businesses and, if applicable, residents within said area and the <br />development of the proposed project; and <br /> <br />RD-005 <br />F ;ISharedlRedwoodlCouncillReso <br />DES:rg <br />01/21/98 <br /> <br /> <br />