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HomeMy WebLinkAboutReso 95-2000RESOLUTION NO. 95-2000 CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA A RESOLUTION APPROVING THE TRANSFER OF PROPERTY LOCATED AT 124 LINDEN AVENUE TO THE REDEVELOPMENT AGENCY AND ENTERING INTO A PROMISSORY NOTE WITH THE AGENCY WHEREAS, the City desires to transfer the property located at 124 Linden Avenue to the Redevelopment Agency and enter into a Promissory Note with the Agency; and WHEREAS, this Note is in the amount of $410,000, the appraised value of the property; and WHEREAS, approval of this transaction will enable the project to move forward; and WHEREAS, this action enables the City to implement its commitment under the Disposition and Development Agreement with Robert and Kathleen Giorgi and furthers the process to have a new retail furniture store constructed in the downtown area. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of South San Francisco that the City Council hereby approves the transfer of property located at 124 Linden Avenue to the Redevelopment Agency and entering into a Promissory Note with the Agency. I hereby certify that the foregoing Resolution was regularly introduced and adopted by the City Council of the City of South San Francisco at a Regular meeting held on the 26th day of July ,2000 by the following vote: AYES: Councilmembers Pedro Gonzalez, Eugene R. Mullin and John R. Penna, and Mayor Kar¥1 Matsumoto NOES: None. ABSTAIN: None. ABSENT: Mayor Pro Tern Joseph A. Fernekes /City Clerk // F:\File Cabinet\RES()\ 124Lindcn.res.doc