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COPY <br /> RESOLUTION NO. P-2233 <br /> RESOLUTION APPROVING AND AUTHORIZING <br /> IMPROVEMENTS AT SIMSMETAL PREMISES <br /> (Shredder and MRP Structures) <br /> Whereas, SIMSMETAL U.S.A. CORPORATION ("Simsmetal") entered <br /> into a lease agreement dated October 1, 1995, for the leasing by Simsmetal from <br /> the Port of Redwood City ("Port") of the property located at 699 Seaport Blvd., <br /> Redwood City, CA (the "Premises"); and <br /> Whereas, the lease agreement dated October 1, 1995, as amended (the <br /> "Lease"), provides that improvements to be undertaken by Simsmetal (referred to <br /> in Simsmetal's application to the Port dated May 8, 2014, as Simsmetal <br /> Management) at the Premises, which are estimated to cost $50,000 or more <br /> must be approved by the Port; and <br /> Whereas, Simsmetal is proposing the construction of certain <br /> improvements, the cost of which will exceed the sum of$50,000; and <br /> Whereas, there has been presented to the Port drawings depicting and <br /> describing the proposed improvements (the "Proposed Improvements"); and <br /> Whereas, this Board of Port Commissioners ("this Board") has reviewed <br /> the drawings and other materials provided by Simsmetal and in connection with <br /> said review, has taken into consideration the character, nature and size, and <br /> location of Proposed Improvements to be constructed; and <br /> Whereas, this Board has taken into consideration the terms and <br /> conditions of the Lease and the benefit of the Proposed Improvements to the <br /> Port and to Simsmetal; and <br /> Reso 209�� � SGa��e� <br /> 05/29/14 <br />