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RESOLUTION NO. 12118 <br /> JAH:dft 1 '4/94 (015/36) <br /> o RIG I N A L 1/10/94 <br /> RES 0 L UTI 0 N N O. 12118 <br /> ---------- <br /> A RESOLUTION OF THE COUNCIL OF THE CITY OF REDWOOD CITY <br /> MAKING FINDINGS AND APPROVING SALE OF LAND BY <br /> REDEVELOPMENT AGENCY OF THE CITY OF REDWOOD CITY <br /> PURSUANT TO DISPOSITION AND DEVELOPMENT AGREEMENT FOR <br /> WYNDHAM PLACE PROJECT <br /> WHEREAS, the Redevelopment Agency of the City of Redwood <br />City (the "Agency"), following its certification of the First <br />Addendum to Final EIR, approved a project called the Wyndham <br />Place Project (the "Project") that called for the acquisition of <br />the site of the former Whipple Lodge (the "Project Site"), and <br />the construction thereon of affordable housing; and <br /> WHEREAS, the Agency acquired the Project Site by eminent <br />domain and then demolished the former motel and cleared and <br />prepared the site for development; and <br /> WHEREAS, the Agency, working with the Whipple/Warren Site <br />Committee, carefully reviewed several proposals for the <br />development of affordable housing on the Project Site, and <br />selected Butler Stellar Corporation (the "Developer") to be the <br />developer of the Project; and <br /> WHEREAS, the Agency and the Developer have negotiated an <br />agreement entitled, "Disposition and Development Agreement for <br />Wyndham Place Project" (the "DDA"), pursuant to which the Agency <br />will convey the Project Site to the Developer and the Developer <br />will construct fifteen condominiums thereon and sell the <br />condominiums to persons and families of low and moderate income; <br />and <br /> WHEREAS, the report and summary of the DDA required by <br />Section 33433 of the Health and Safety Code (the "Report and <br />