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05/12/2016 RESOLUTION NO. OB-16-08 RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY APPROVING A LONG RANGE PROPERTY MANAGEMENT PLAN 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 , the California Department of Finance issued a Finding of Completion to the Successor Agency on December 10, 2015 ; and WHEREAS , pursuant to Health and Safety Code Section 34191 .5 , within six months after receiving a Finding of Completion from the Department of Finance, the Successor Agency is required to submit for approval to the Oversight Board and the Department of Finance a Long Range Property Management Plan that addresses the disposition and use of the real properties of the former Redevelopment Agency; and WHEREAS , the Successor Agency has succeeded to the interests of the Redevelopment Agency in five parcels, all of which were acquired for governmental purposes and are designated to be maintained for governmental and public use consistent with the current use of such parcels ; and WHEREAS , the County of San Mateo and the United States Postal Service own the fee interest in two of the parcels (respectively, the "Courthouse Square Easement" and the "Jefferson Avenue Pedestrian Paseo") , and restrict their use for public purposes; and ATTY/RES0.0042/OB RESO APPROVING LRPMP OB-16-08 REV: 05-05-16 VR Page 1 of 2