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ATTY/RESO.0011/CC RESO APRROVING PROPERTY PURCHASE AGREEMENT (CARGILL POINT, LLC) REV: 04-06-25 VR Page 1 of 2 RESOLUTION NO. 16396 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING THE PROPERTY PURCHASE AGREEMENT BETWEEN THE CITY OF REDWOOD CITY, AS BUYER AND CARGILL POINT, LLC, AS SELLER, FOR THE PURCHASE OF A FEE PARCEL OVER REAL PROPERTY IDENTIFIED AS ASSESSOR'S PARCEL NUMBER (APN) 054-310-160, IN THE AMOUNT OF $3,900 WHEREAS, as part of the City of Redwood City's ("City") State Route 84 (Woodside Road)/U.S. 101 Interchange Reimagined Project, the City has identified the need to acquire certain real property rights from the referenced property for public use to construct the project; and WHEREAS, City requires real property rights from the subject property for a public use for which City has the authority to exercise the power of eminent domain. Seller is compelled to sell, and City is compelled to acquire the subject property; and WHEREAS, the fee title parcel being acquired by Grant Deed is required for construction of project improvements including sidewalk, curb, gutter, bike lane and roadway improvements; and WHEREAS, Cargill Point, LLC (Seller) has agreed to sell the real property rights described herein and more specifically in the Property Purchase Agreement to the City for the purchase price of $3,900, which is the fair market value of the real property rights as established pursuant to the City’s approved appraisal for the subject property. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF REDWOOD CITY AS FOLLOWS: Section 1. The City Council approves the Property Purchase Agreement between the City of Redwood City, as Buyer, and Cargill Point, LLC, as Seller, for the purchase of the real property rights within the property identified as APN 054-310-160 in the amount of $3,900, substantially in the form attached as Exhibit A to this Resolution (the "Agreement"). Section 2. The City Manager, or their designee (each an "Authorized Officer"), is hereby authorized to execute and deliver, for and in the name of the City, the Agreement, with such additions or changes as the Authorized Officer executing the same may approve (such approval to be conclusively evidenced by such Authorized Officer's execution and delivery thereof). Section 3. The Authorized Officer is hereby authorized, jointly and severally, to do all things that they may deem necessary or proper to effectuate the purposes of this Resolution and implement the Agreement and the acquisition of the real property rights therein described by the City, including the execution and recordation of agreements,