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<br />MINUTE ORDER <br />CITY COUNCIL MEETING <br />REDEVELOPMENT AGENCY <br /> <br />November 13. 2006 <br />RD MO. 06-11 <br /> <br />CITY CLERK DEPARTMENT <br />Redwood City <br /> <br />DATE: November 14,2006 <br /> <br />Attention: City Attorney <br />Community Development Department <br /> <br />SUBJECT: Purchase vacant property at 777 Bradford Street for development of an <br />affordable senior housing project and possible childcare facility. <br />aTYCOUNaUR~DEVELOPMENTAGENCY <br /> <br />AGENDA ITEM: 6.1 F (405) <br /> <br />Meeting of the Council of the City of Redwood City on November 13, 2006. <br /> <br />Present: Council Members Aguirre, Bain, Hartnett, Ira, Vice Mayor Foust and Mayor Pierce <br /> <br />Absent: Council Member Howard <br /> <br />The following motion was made, carried and entered on the Minutes <br /> <br />M/S FoustlBain to (1) authorize the Executive Director to execute purchase and sale <br />agreement between Richard Gardella and Agency to purchase Bradford Street <br />Assessor's Parcel Number 052-372-170 for $1.2 million plus Agency's shgre of the <br />closing costs; and (2) approve the following appropriations to fund the purchase <br />transaction with the understanding that should there be any discrepancy in amounts <br />received from CDGB or HOME, the difference will be made up with Redwood City <br />Redevelopment Agency housing set-aside funds. <br /> <br />a. $204,319.24 from CDGB Fiscal Year 2006/07 funds <br />b. $322,579.51 from HOME Fiscal Year 2006/07 funds <br />c. $175,000.00 from RDA Capital Fiscal Year 2006/07 funds <br />d. $150,000.00 from 1991 Bond Proceeds Fiscal Year 2006/07 <br />