Laserfiche WebLink
2202 � <br /> RESOLUTION NO. P- � ��� � �� <br /> �� <br /> RESOLUTION TERMINATING REIMBURSEMENT AGREEMENT <br /> (SRDC, Inc.) <br /> WHEREAS, the City of Redwood City,by and through its Board of Port <br /> Commissioners, and SRDC, Inc. entered into an agreement(the "Contract") entitled, <br /> "Reimbursement AgreemenY' in connection with the CEQA analysis for the potential <br /> leasing of a portion of the property located at 475 Seaport Blvd., Redwood City, <br /> California; and <br /> WHEREAS, the Contract was approved by the Board of Port Commissioners on <br /> September 9, 2009; and <br /> WHEREAS, SRDC, Inc. has abandoned the Project; and <br /> WHEREAS, pursuant to the terms of the Contract, SRDC, Inc. deposited the sum <br /> of$112,626.80 with the Port to pay for all costs, fees and expenses to be incurred by the <br /> Port in connection with the CEQA process; and <br /> WHEREAS,pursuant to the terms of the Contract, Port expended the sum of <br /> $101,227.87; and <br /> WHEREAS, pursuant to the tertns of the Contract, Port charged 10% of the sum <br /> expended as an Administrative Fee, in the amount of$10,122.81; and <br /> WHEREAS, the Port created a ledger to evidence the deposit made by SRDC, Inc. <br /> and the disbursements made by Port to pay costs, fees and expenses; and <br /> WHEREAS, the remaining ledger balance after payment of all costs, fees, and <br /> expenses is $1,276.12. <br /> NOW, THEREFORE; <br /> BE IT RESOLVED BY THE BOARD OF PORT COMMISSIONERS OF THE <br /> CITY OF REDWOOD CITY AS FOLLOWS: <br /> 1. The Reimbursement Agreement with SRDC, Inc. is terminated. <br /> 2. The Port Executive Director is hereby authorized to release the sum of <br /> $1,276.12 to SRDC, Inc. <br /> * * * �: * <br /> Port/reso <br /> Reso 111edCH <br /> 04/10/13 <br />