HomeMy WebLinkAboutReso RDA 8-1998 RESOLUTION NO. 8-98
REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN FRANCISCO
STATE OF CALIFORNIA
A RESOLUTION APPROVING A REIMBURSEMENT AGREEMENT
BETWEEN THE CITY OF SOUTH SAN FRANCISCO REDEVELOPMENT
AGENCY AND THE CITY OF SOUTH SAN FRANCISCO PARKING
DISTRICT NO. 1
WHEREAS, staff is requesting approval of the Reimbursement Agreement between the City of South San
Francisco Redevelopment Agency and the City of South San Francisco Parking District No. 1.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of South San
Francisco that it hereby approves the Reimbursement Agreement between the City of South San Francisco
Redevelopment Agency and the City of South San Francisco Parking District No. 1.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the
Redevelopment Agency of the City of South San Francisco at a rezular meeting held on the 24th day of __
gu_ne ,1998 by the following vote:
' AYES: Boardmembers James L. Datzman, Joseph A. Fernekes, Karv1
Matsumoto and Mayor Eugene R. Mu] ] ~n
NOES: None
ABSTAIN: None
ABSENT: Boardmeml)._e_r John R. Penna
C:\My Documents\RESO\REIMBURSEMENT.RDA.doc
Attachment to Resolution No. 8-98
REIMBURSEMENT AGREEMENT BETWEEN THE CITY
OF SOUTH SAN FRANCISCO REDEVELOPMENT
AGENCY AND THE CITY OF SOUTH SAN FRANCISCO
PARKING DISTRICT NO. 1
This Reimbursement Agreement is entered into by and between the City of
South San Francisco Redevelopment Agency, a public body corporate and politic,
(hereinafter "Agency") and the City of South San Francisco Parking District No. 1, a
public agency (hereinafter "District").
RECITALS
WHEREAS, the Agency has purchased the property at 432 Baden Avenue,
South San Francisco (hereinafter "Property"); and
WHEREAS, the Agency wishes to demolish the buildings on the Property and
construct a parking lot; and
WHEREAS, revenue from the District is intended to finance said demolition
and construction; and
WHEREAS, the Property is not yet included in the District; and
WHEREAS, the Agency wishes to commence said demolition and construction
prior to the Property being included in the District; and
WHEREAS, the Agency is willing to provide the funding for said demolition
and construction; and'
WHEREAS, the use of said funding is for a redevelopment purpose as defined
in Health & Safety Code Section 33020 and 33021; and
WHEREAS, the Board of Directors of Agency finds that the expenditure of
funds for said demolition and construction will benefit a redevelopment project area
in that the resulting parking facility will primarily serve adjacent businesses in the
Downtown General Redevelopment Area; and
WHEREAS, the Board of Directors of Agency finds that no other reasonable
means of fmancing said demolition and construction are available to the community;
and
WHEREAS, the payment of funds for the demolition and construction will
assist in the elimination of one or more blighting conditions inside the Downtown
Central Redevelopment Area and is consistent with the implementation plan for the
area adopted pursuant to Health & Safety Code Section 33490; and
WHEREAS, the District is willing to reimburse the Agency for the expenditure
of funds once the Property has been included in the District.
NOW, THEREFORE, THE PARTIES HERETO AGREE AS FOLLOWS:
1. Agency shall provide funding in an amount not to exceed Eighty
Thousand Dollars ($80,000.00) for the demolition of the structures on the Property
and the construction of a new parking lot.
2. District agrees to begin proceedings to change District's boundaries to
include the Property and to complete the proceedings within a reasonable time
thereafter.
3. District further agrees that once the proceedings for including the
Property within the District are complete, District shall, within one (1) year,
reimburse Agency for the amount actually expended for said demolition and
construction.
2
Executed this day of , 1998 at South San Francisco,
California.
Agency:
By:
Executive Director
Attest:
Clerk
District:
By:
Attest:
Clerk
Approved as to Form
Agency Cdunsel
J:\WPD~,MNRSW~405~01 ~AGREE~MAY9 8XR.EI MBURS.AGR