HomeMy WebLinkAboutReso 45-2021 (21-72)City of South San Francisco P.O. Box 711 (City Hall,
• 400 Grand Avenue)
South San Francisco, CA
• City Council
Resolution: RES 45-2021
File Number: 21-72 Enactment Number: RES 45-2021
RESOLUTION ACCEPTING FAIRFIELD 200
AIRPORT LP'S PREPAYMENT OF $250,000 TO
PARTIALLY SATISFY ITS OBLIGATIONS
ASSOCIATED WITH THE EAST OF 101
COMMUNITY FACILITY DISTRICT IN
CONNECTION WITH ITS DEVELOPMENT OF A
MIXED-USE MULTIFAMILY RESIDENTIAL
PROJECT AT 200 AIRPORT BOULEVARD.
WHEREAS, Fairfield 200 Airport LP ("Developer") is constructing a new mixed-use
multifamily residential project at 200 Airport ("Project"); and
WHEREAS, pursuant to Condition #39 of the Conditions of Approval for Resolution No.
100-2019 approving the Project and Section 3.1(4) of the Community Benefits Agreement between the
City of South San Francisco ("City") and Developer, Developer agreed to participate in the yet to be
formed South San Francisco Industrial Area Community Facilities District ("East of 101 Community
Facility District") at an annual tax rate of no more than $0.25 per gross Project square feet or in the event
that the East of 101 Community Facility District is not formed, Developer agreed to contribute the
equivalent of an annual community benefit fee of no more than $0.25 per gross Project square feet for a
term of thirty (30) years; and
WHEREAS, Condition #39 and the Community Benefits Agreement provides that Developer's
payments can be made on an annual or pre -paid basis as mutually agreed upon by the parties; and
WHEREAS, the Developer and City have agreed that upon payment of five hundred thousand
dollars ($500,000) made in two installments, Developer will have fully satisfied its obligations pursuant
to Condition #39 and Section 3.1(4); and
WHEREAS, the Developer has made its initial payment of two hundred and fifty thousand
dollars ($250,000) prior to issuance of building permits for the Project and this resolution serves to
accept that initial payment on behalf of the City; and
WHEREAS, the Developer will make its second installment payment of two hundred and fifty
thousand dollars ($250,000) prior to issuance of a certificate of occupancy for the Project and that
payment will be accepted by a subsequent resolution of the City Council.
NOW THEREFORE, BE IT RESOLVED that the City Council of the City of South San
Francisco hereby takes the following actions:
1. Accepts the Developer's initial prepayment of $250,000 to partially satisfy its obligations
City of South San Francisco Page 1
File Number. 21-72
Enactment Number. RES 45-2021
associated with the East of 101 Community Facility District in connection with its development
of a mixed-use multifamily residential project at 200 Airport Boulevard.
2. Authorizes the City Manager to take any action and execute any documents necessary for the
City's acceptance of the Developer's prepayment consistent with the intent of this resolution.
At a meeting of the City Council on 2/24/2021, a motion was made by Vice Mayor Nagales, seconded by
Councilmember Nicolas, that this Resolution be approved. The motion passed.
Yes: 5 Mayor Addiego, Vice Mayor Nagales, Councilmember Nicolas, Councilmember
Coleman, and Councilmember Flores
Attest by
fX, Rosa G ea A osta, City Clerk
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