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DES:dft ~'08/95 (051/38) 0 R I G I N A L 3/13/95 RESOLUTION NO. 12424 RESOLUTION APPROVING AND AUTHORIZING GRANT AGREEMENT FOR PROMOTION OF VISUAL ARTS AND RELATED ACTIVITIES (REDWOOD CITY ART CENTER) WHEREAS, the Redwood City Art Center, a non-profit California corporation ("RCAC"), promotes and enhances the visual arts and cultural activities in the City of Redwood City; and WHEREAS, pursuant to that certain agreement by and between the Redevelopment Agency of the City of Redwood City and RCAC dated January 23, 1995 (the "Agency Agreement"), said Agency provided a grant to RCAC for improvements to a building for RCAC's activities, located at 2625 Broadway, Redwood City (the "Property") within the downtown subarea of Redevelopment Project No. 2; and WHEREAS, pursuant to the Agency Agreement, RCAC covenants and agrees to carry out certain activities promotive of the visual arts and cultural enhancement for the City of Redwood City; and WHEREAS, RCAC has requested supplemental funding for purposes of providing fire service facilities to the Property; and WHEREAS, this Council is willing to provide said grant on the condition that the City be reimbursed therefor; and WHEREAS, an Agreement has been submitted to, and reviewed by, this Council providing for said grant, subject to reimbursement thereof by the Owner of the Property, and this Cooncil desires to approve and authorize execution of said agreement;