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05/12/2016 RESOLUTION NO. OB-16-05 RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY APPROVING THE CONVEYANCE OF THE CULVERT PARCELS TO THE CITY OF REDWOOD CITY WHEREAS, under AB X1 26, enacted by the California State Legislature and signed by the Governor as part 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 the intersection of Lathrop, Maple and Elm Streets, designated as San Mateo County Assessor's Parcel Nos. 053-147-040 and 053-182-030, and more particularly described in Exhibit A attached hereto (the "Culvert Parcels") was acquired for the purposes of construction and maintenance of a creek culvert, has been maintained in public ownership to facilitate operation of, access to, and maintenance of the culvert, subject to revocable license agreements permitting its temporary use for parking and open space; and WHEREAS , following publication of the notice required by law, the Oversight Board held a public meeting on May 12 , 2016 to consider the conveyance of the Culvert Parcels to the City. ATTY/RES0.0039/OB RESO APPROVING CONVEYANCE OF CULVERT PARCLES TO CITY OB-16-05 REV: 05-05-16 VR Page 1 of 2