HomeMy WebLinkAboutReso RDA 12-1981 RESOLUTION NO. 12
RESOLUTION AUTHORIZING THE EXECUTION
OF AN OWNER PARTICIPATION AND DEVELOPMENT
AGREEMENT BY AND BETWEEN THE REDEVELOPMENT
AGENCY OF THE CITY OF SOUTH SAN FRANCISCO
AND HOMART DEVELOPMENT COMPANY
RESOLVED, by the Members of the Redevelopment
Agency of the City of South San Francisco, that
WHEREAS, in furtherance of the objectives of
the Community Redevelopment Law, the Agency has undertaken
a program for the clearance and reconstruction or re-
habilitation of slum and blighted areas in the City, and
in this connection is engaged in carrying out a redevelop-
ment project known as The Gateway Redevelopment Project
(hereinafter referred to as "Project"), in an area (herein-
after referred to as "Project Area"), located in the City;
and
WHEREAS, in furtherance of the implementation of
the Project the Agency has undertaken various redevelopment
activities consisting of, inter alia, survey and planning for
the Project, administration, and the adoption of a preliminary
redevelopment plan, and contemplates further redevelopment
activities consisting of, inter alia, the adoption of a
final redevelopment plan and the implementation thereof; and
WHEREAS, the Plan will provide for the participation
in the redevelopment of certain parcels of property in the
Project Area by the owners thereof if such owners agree to
such participation in conformity with the Plan, and
WHEREAS, HOMART DEVELOPMENT COMPANY is the owner
of certain property situated within the Project Area; and
WHEREAS, the Property, as hereinafter defined,
will be developed for office, hotel, commercial, research and
development and ancillary uses, through a combination of
private and public improvements; and
WHEREAS, the Agency believes that the redevelop-
ment of the Proper.ty pursuant to this agreement, and the
fulfillment generally of this agreement, are in the vital
and best interests of the City and the health, safety, morals,
and welfare of its residents, and in accord with the public
purposes and provisions of the applicable Federal, State
and local laws and requirements under which the Project has
been undertaken and is being assisted:
NOW, THEREFORE, IT IS FOUND, DETERMINED and
ORDERED as follows:
1. That the Chairman of the Agency and the
Executive Director/Secretary is authorized to enter into
an Owner Participation and Development Agreement in the
general form attached hereto as mofidied pursuant to staff
Memorandum of March 16, 1981, a true and correct copy
attached hereto and incorporated by reference and attachment
as though set forth at length herein with HOMART DEVELOPMENT
COMPANY for the financing, construction and development in
the manner and form as attached herewith.
ADOPTED, SIGNED AND APPROVED this ]9th day of
March , 1981.
Chairman, Redevelopment Agency
City of South San Francisco
ATTEST:
Executive Director
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