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MINUTE ORDER <br /> REDEVELOPMENT AGENCY MEETING <br /> CITY COUNCIL MEETING <br /> <br /> September 22, 2003 <br /> MO RD 03-28 <br /> <br />CITY CLERK DEPARTMENT <br />Redwood City <br /> <br />DATE: September 24, 2003 <br /> <br />Attention: City Attorney <br /> Planning Dept. <br /> Community Development Dept. <br /> <br />SUBJECT: Construction and Reimbursement Agreement for Underground <br /> Public Parking Garage in the Downtown area <br /> <br />AGENDA ITEM: 12. B (Also see Minute Order 03-232) <br /> <br />Joint Meeting of the City Council and Redevelopment Agency of the City of <br />Redwood City on September 22, 2003 <br /> <br />Present: Directors Hartnett, Howard, Pierce, Vice Chair Ira and Chair person Claire <br />Absent: Director Jordan <br /> <br />The following motion was made, carried and entered on the Minutes: <br /> <br />MIS Hartnett/Howard <br /> <br />1. Authorize the City Manager and the Redevelopment Agency Executive <br />Director to execute a Construction and Reimbursement Agreement with BHV <br />Innisfree Ventures, I, LLC, developers of the Downtown Retail-Cinema project; <br />for construction of an underground public parking garage. The agreement to be <br />in substantial conformance with the recommendation with any revisions related <br />to schedule, risk or budget impacts to come back for approval. Revisions <br />presented to Council at this time consist of Section D.4. - substitution of dollar <br />amount ($102,000.00) with 3% of fee for services performed; Section H.2. - <br />blank to be filled with "20" days; Section H.2.C. - 50% to be revised to 90%. <br /> <br />2. Appropriate $18.2M for the above from the $20M loan from the City to the <br />Agency which will be paid back to the City from the Redevelopment Agency's <br />bond as part of the Downtown Funding Plan <br /> <br /> <br />