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05/12/2016 RESOLUTION NO. OB-16-06 RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY AUTHORIZING EXECUTION OF A RESCISSION OF PARTIAL ASSIGNMENT AGREEMENT AND ACKNOWLEDGING AND APPROVING THE REVERSION OF THE SUCCESSOR AGENCY'S EASEMENT INTERESTS IN THE COURTHOUSE SQUARE TO THE CITY OF REDWOOD CITY WHEREAS, under AB X1 26 , enacted by the California State Legislature and signed by the Governor as pad of the 2011 -2012 State budget, a new Part 1 . 85 was added to Division 24 of the California Health and Safety Code (Health and Safety Code Section 34170 et seq . , as may be amended , the " Dissolution Act") and , in accordance therewith , all redevelopment agencies in the State of California, including the Redwood City Redevelopment Agency ("Redevelopment Agency") , were dissolved as of February 1 , 2012; and WHEREAS, in compliance with the Dissolution Act, the City of Redwood City ("City") determined it would serve as the Successor Agency to the Redwood City Redevelopment Agency ("Successor Agency") effective February 1 , 2012 ; and WHEREAS, the Oversight Board of the Successor Agency to the Redwood City Redevelopment Agency ("Oversight Board") has been established pursuant to Section 34179 of the Dissolution Act to oversee the Successor Agency's actions in winding down the affairs of the Redevelopment Agency in accordance with the Dissolution Act; and WHEREAS , pursuant to Health and Safety Code Section 34181 (a) and 34181 (f), the Oversight Board is required to direct the Successor Agency to dispose of the property of the former redevelopment agency; provided however, the Oversight Board may direct the Successor Agency to transfer ownership of assets that were constructed and used for governmental purposes to the City; and WHEREAS , the property located in the City at 2200 Broadway, designated as San Mateo County Assessor's Parcel No. 052-367-010, and more particularly described in Exhibit A attached hereto (the "Courthouse Square") is owned by the County of San Mateo (the "County") ; and WHEREAS , pursuant to a Cooperative Agreement executed by and between the City and the County in 2005 (the "Cooperative Agreement") , the County granted to the ATTY/RES0.0040/OB RESO APPROVING RECISSION OF COURTHOUSE ASSIGNMENT OF EASEMENTS OB-16-06 REV: 05-05-16 VR Page 1of3