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RESOLUTION NO. 04-2014
SUCCESSOR AGENCY,FORMER REDEVELOPMENT AGENCY FOR THE CITY OF
SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
APPROVING AN EXCLUSIVE NEGOTIATION RIGHTS
AGREEMENT WITH BROOKWOOD EQUITIES, LLP FOR
POTENTIAL DISPOSITION AND DEVELOPMENT OF 201,
207, 217-19 AND 227 GRAND AVENUE AND 418 LINDEN
AVENUE
WHEREAS, the City of South San Francisco ("City") is the owner of certain real property
located in the City of South San Francisco, California,known as County Assessor's Parcel Number
012-314-010 ("418 Linden Avenue"); and
WHEREAS, the Successor Agency ("Agency") is the owner of certain real property (the
"Successor Agency Property") located in the City of South San Francisco, California, known as
County Assessor's Parcel Numbers 012-316-110 (201 Grand Avenue), 012-316-100 (207 Grand
Avenue), 012-316-090 (217-219 Grand Avenue), 012-316-070 (227 Grand Avenue); and
WHEREAS, the Successor Agency Property was transferred from the City of South San
Francisco to the Agency pursuant to Grant Deeds; and
WHEREAS, on June 29, 2011 the legislature of the State of California (the "State")
adopted Assembly Bill xl 26 ("AB 26"), which amended provisions of the Redevelopment Law;
and
WHEREAS, pursuant to AB 26 and the California Supreme Court decision in California
Redevelopment Association, et al. v. Ana Matosantos, et al., which upheld AB 26 (together with
AB 1484,the "Dissolution Law"),the Redevelopment Agency was dissolved on February 1, 2012;
and
WHEREAS, pursuant to the Dissolution Law, the Agency has prepared and the Oversight
Board has approved a Long Range Property Management Plan ("LRPMP") which is presently
under review by California Department of Finance ("DOF"); and,
WHEREAS, the LRPMP being reviewed by the DOF includes development plans for the
Successor Agency Property; and,
WHEREAS, DOF approval of a LRPMP authorizing a process for conveyance of the
Successor Agency Property is required prior to conveyance of the Successor Agency Property, and,
WHEREAS, the Successor Agency is interested in selling the Successor Agency Property
to Brookwood Equities, LLP, a Delaware limited liability company("Developer") contingent upon
Developer receiving approval of a Disposition and Development Agreement by the Successor
Agency, the Oversight Board and DOF, securing all of funding for the Project, obtaining any
applicable land use entitlements from the City of South San Francisco and if such funding is
secured and entitlements/approvals are granted constructing approximately 90 multi-family
residential units ("Project") of which approximately 18 will be affordable to low- and moderate-
income households on 418 Linden Avenue and the Successor Agency Property; and,
WHEREAS, the Developer has requested the exclusive right to negotiate with the
Successor Agency to develop the Project and negotiate with the Successor Agency for the
purpose of reaching agreement on a project description, appropriate land uses, economic
feasibility, and a definitive agreement whose terms and conditions would govern any conveyance
and development of the Successor Agency Property; and,
WHEREAS, Successor Agency desires to grant Developer the exclusive right to negotiate
with Successor Agency with regard to development of the Successor Agency Property; and
WHEREAS, the City Attorney has prepared an Exclusive Negotiation Rights Agreement
("Agreement") with Developer to reflect the terms and conditions of such exclusive collaboration
and negotiation.
NOW, THEREFORE, the Board of the South San Francisco Successor Agency does
hereby resolve as follows:
1. The Recitals set forth above are true and correct, and are incorporated herein by
reference.
2. The Agreement, substantially in the form attached hereto, is hereby approved, and the
Executive Director is hereby authorized to execute it on behalf of the Successor Agency following
approval by the Oversight Board and DOF; to make non-substantive revisions to the Agreement,
with review and approval by the City Attorney; to sign all documents; to make all approvals and
take all actions necessary or appropriate to carry out and implement the intent of this Resolution.
* * * * *
I hereby certify that the foregoing Resolution was regularly introduced and adopted by the
Successor Agency of the City of South San Francisco Redevelopment Agency at a regular meeting
held on the 24th day of September,2014 by the following vote:
AYES: Boardmembers Mark N. Addiego,Pradeep Gupta, and Liza Normandy
Vice Chair Richard A. Garbarino Chairwoman Karyl Matsumoto.
NOES: None.
ABSTAIN: None.
ABSENT: None.
0.404
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