HomeMy WebLinkAboutReso RDA 13-1998"' RESOLUTION NO. 13-98
REDEVELOPMENT AGENCY, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUTION APPROVING ASSIGNMENT OF AN OWNER PARTICIPATION
AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY AND TIPTON
MANAGEMENT COMPANY, INCORPORATED TO TIPTON METRO, LLC.
WHEREAS, Article 4 of the Owner Participation Agreement provides for the ability to assign the
Agreement to Richard Tipton or an affiliated organization of which Mr. Tipton is the Chief Executive;
WHEREAS, Richard Tipton has requested assignment of the Owner Participation Agreement from
Tipton Management Company, Incorporated to Tipton Metro, LLC.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of South
San Francisco that:
1. The Redevelopment Agency hereby approves the assignment of the interest held by Tipton
Management Company in the Owner Participation Agreement referenced herein to Tipton Metro, LLC.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the City
Redevelopment Agency of the City of South San Francisco at a re§u ] ar meeting held on the 14th
__ day of October , 1998 by the following vote:
AYES: Boardmembers James A. Datzman, Joseph A. Fernekes, Karyl
Matsumoto and Chairman Eugene R. Mullin
NOES: None
ABSTAIN: Boardmember John R. Penna
ABSENT: None
ATTEST: ~C1Clerk~ ~
C:\My Documents\RESO\tipton. 108.doc