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