HomeMy WebLinkAboutReso 16-2021 (21-40)City of South San Francisco P.O. Box 711 (City Hall,
400 Grand Avenue)
IgoSouth San Francisco, CA
City Council
Resolution: RES 16-2021
File Number: 21-40 Enactment Number: RES 16-2021
RESOLUTION APPROVING REIMBURSEMENT
AGREEMENT WITH KR OYSTER POINT
DEVELOPER, LLC FOR COST ASSOCIATED WITH
THE FORMATION OF CITY OF SOUTH SAN
FRANCISCO COMMUNITY FACILITIES DISTRICT
2021-01.
WHEREAS, KR Oyster Point Developer, LLC and its affiliates (collectively "Kilroy") own
approximately 54.32 acres of land within the City located at Oyster Point. Kilroy is the assignee of
Oyster Point Ventures, LLC pursuant to that certain Development Agreement entered into as of March
23, 2011 (the "Development Agreement"), with the City. Pursuant to the Development Agreement, the
City agreed to cooperate in good faith with Kilroy to form a Community Facilities District ("CFD")
pursuant to the Mello -Roos Community Facilities Act of 1982 ("Mello -Roos Act") to finance certain
public capital facilities and services benefiting the territory within the CFD. An affiliate of Kilroy has
filed a petition requesting the formation of the CFD and staff is recommending the formation of City of
South San Francisco Community Facilities District No. 2021-01 ("CFD No. 2021-01"); and
WHEREAS, CFD No. 2021-01will fund the acquisition of certain capital improvements
constructed by Kilroy and benefiting the development. The authorized services include but are not
limited to roadway maintenance, including streetlights, traffic signals, and landscaping; parks, waterfront
and Bay Trail maintenance; public surface parking maintenance; operation and maintenance of public
restroom buildings; and operation and maintenance of storm drainage systems; and
WHEREAS, Kilroy has agreed to advance funds to the City to pay for certain cost related to
the formation of CFD No. 2021-01; if formed, CFD No. 2021-01 will reimburse Kilroy for the amounts
advanced; and
WHEREAS, staff recommends that the City Council approve a Reimbursement Agreement
with Kilroy to provide for reimbursement of City costs associated with the formation of CFD No.
2021-01, and for the reimbursement of Kilroy, if CFD No. 2021-01 is formed.
NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of South San
Francisco does hereby:
1. Approves the Reimbursement Agreement with KR Oyster Point Developer, LLC, attached hereto
as Exhibit A and incorporated herein; and
2. Authorizes the City Manager, or his designee, to execute the Reimbursement Agreement and any
related documents, subject to review and approval as to form by the City Attorney; and
City of South San Francisco Page 1
File Number. 21-40
Enactment Number: RES 16-2021
3. Authorizes the City Manager to take any other related actions necessary to carry out the intent of
this Resolution.
At a meeting of the City Council on 1/27/2021, a motion was made by Councilmember Nicolas,
seconded by Vice Mayor Nagales, that this Resolution be approved. The motion passed.
Yes: 4 Mayor Addiego, Vice Mayor Nagales, Councilmember Nicolas, and
Councilmember Coleman
Attest by
sa Govea Acosta, City Clerk
City of South San Francisco Page 2