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05/12/2016 RESOLUTION NO. OB-16-07 RESOLUTION OF THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY APPROVING THE CONVEYANCE OF THE SUCCESSOR AGENCY'S INTEREST IN THE JEFFERSON AVENUE PEDESTRIAN PASEO TO THE CITY OF REDWOOD CITY AND AUTHORIZING EXECUTION OF AN ASSIGNMENT OF LEASE 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(fl, 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 855 Jefferson Avenue, designated as San Mateo County Assessor's Parcel No. 053-131-190, and more particularly described in Exhibit A attached hereto (the "Pedestrian Paseo") is owned by the United States Postal Service and was leased to the former Redevelopment Agency for the purpose of providing a public pedestrian accessway connecting the U.S. Post Office to the street; and ATTY/RES0.0041/OB RESO APPROVING ASIGNMENT OF JEFFERSON AVE PASEO LEASE TO CITY OB-16-07 REV:05-05-16 VR Page 1 of 2