HomeMy WebLinkAboutReso RDA 04-2006
RESOLUTION NO 04-2006
REDEVELOPMENT AGENCY, CITY OF SOUTH SAN FRANCISCO
STATE OF CALIFORNIA
A RESOLUTION APPROVING A PURCHASE AND SALE
AGREEMENT FOR THE SALE OF UNIMPROVED
PROPERTY FROM THE CITY AND COUNTY OF SAN
FRANCISCO PUBLIC UTILITIES COMMISSION TO THE
REDEVELOPMENT AGENCY OF THE CITY OF SOUTH SAN
FRANCISCO, A MUNICIPAL CORPORATION
WHEREAS, the City and County of San Francisco owns a certain unilnproved
21.30 acre area, consisting of six parcels, of real property located in South San Francisco,
east of the BART SFO Extension right-of-way, Inore particularly described in Exhibit A,
which is incorporated by reference and attached hereto; and
WHEREAS, the City and County of San Francisco desires to sell the property and
the Redevelopment Agency of the City of South San Francisco desires to purchase the
unilnproved real property; and
WHEREAS, the Redevelopment Agency of the City of South San Francisco
desires to acquire the property to facilitate development and construction of public
benefits within the EI Cmnino Corridor Redeveloplnent Project Area; and
WHEREAS, the Redeveloplnent Agency has obtained an appraisal of the property
which indicates the property has a fair Inarket value of $22 Inillion; and
WHEREAS, the Redeveloplnent Agency and the City and County of San
Francisco have Inutually agreed to a purchase price of $22 million for the unilnproved
real property.
NOW, THEREFORE, BE IT RESOLVED by the Redevelopment Agency of the
City of South San Francisco that it hereby approves the purchase of the 21.30-acre
property froln the City and County of San Francisco and authorizes the Agency Director
to execute the purchase and sale agreement, the grant deed and the escrow instructions on
behalf of the Redevelopment Agency.
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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 Ineeting
held on the ~ day of March , 2006 by the following vote:
AYES:
Boardlnelnbers Mark N. Addiego, Pedro Gonzalez and Karvl Matsumoto,
Vice Chair Richard A. Garbarino and Chair Joseph A. Femekes
NOES:
ABSTAIN: None
ABSENT: None
ATTEST:
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