HomeMy WebLinkAboutRDA Reso 24-2009RESOLUTION NO. 24-2009
REDEVELOPMENT AGENCY, CITY OF SOUTH SAN FRANCISCO,
STATE OF CALIFORNIA
A RESOLUTION AUTHORIZING EXECUTION OF A
PURCHASE AND SALE AGREEMENT AND AUTHORIZING
EXPENDITURE OF TAX INCREMENT FUNDS IN THE
AMOUNT OF $1.1 MILLION FOR. THE ACQUISITION OF
PROPERTY LOCATED AT 938 LINDEN AVENUE.
WHEREAS, the Redevelopment Agency of the City of South San Francisco ("Agency")
is a redevelopment agency formed, existing and exercising its powers pursuant to the California
Community Redevelopment Law, Health and Safety Code Section 33000 et seq. ("CRL");
WHEREAS, by Ordinance No. 1056-89, the City Council of the City of South San
Francisco ("City Council") established the Downtown/Central Redevelopment Project (the
"Project Area") and adopted the Redevelopment Plan for the Project Area (as subsequently
amended, the "Redevelopment Plan");
WHEREAS, SSFDEV, LLC, a California limited liability company ("Owner") is the
owner of real property located in the City of South San Francisco at 938 Linden Avenue (the
"Property");
WHEREAS, the Owner desires to sell the Property, and the Agency desires to acquire the
Property to facilitate redevelopment of the Project Area;
WHEREAS, the Agency and the Owner have negotiated a purchase and sale agreement
(the "Purchase and Sale Agreement") a copy of which has been provided to the Agency
governing board and is on file with the Agency Secretary; and
WHEREAS, the Property is located in the Project Area, and the purchase of the Property
is consistent with and furthers the goals and objectives of the Redevelopment Plan.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the City of
South San Francisco that it hereby:
1. Approves the Agency's expenditure of tax increment fiends in the amount of One Million
One Hundred Thousand Dollars ($1,100,000) for the acquisition of the Property.
2. Approves the Purchase and Sale Agreement and authorizes the Executive Director to
execute such agreement substantially in the form presented to the Agency Board with such
modifications as may be approved by the Executive Director in consultation with Agency
Counsel.
3. Authorizes the Executive Director to undertake such other actions and to execute such
other instruments as may be necessary or desirable in order to carry out the intent of this
Resolution, including without limitation, the execution and recordation of a Certificate of
Acceptance for the Property and the procurement of a policy of title insurance.
I hereby certify that the foregoing Resolution was regularly introduced and adopted by
the Redevelopment Agency of the City of South San Francisco at a regular meeting held on the
9`" day of December, 2009 by the following vote:
AYES: Boardmembers Pedro Gonzalez, Richard A. Garbarino, and Karyl Matsumoto,
Vice Chair Kevin Mullin
NOES: None
ABSTAIN: Chairman Addiego
ABSENT: None
ATTEST: ~ ,/'~ ~( -~;~/
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