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File Number: 12 -293 <br />phase of a three -stage project that was initiated in 2004, on which the Redevelopment Agency <br />had already expended approximately $2,000,000 and made assurances to adjacent property <br />owners that the project would be completed in its entirety; <br />WHEREAS, completion of the Public Improvements will be of benefit to all taxing entities <br />that share in the property tax revenue generated by property located within the Project Areas <br />because such improvements will remove impediments to development, eliminate adverse <br />conditions in the Project Areas, improve vehicular circulation, provide safer routes for <br />pedestrians, and catalyze private development, thus resulting in an increase in assessed <br />valuation and property tax revenue; <br />WHEREAS, the City and the Successor Agency desire to enter into an Amended and <br />Restated Cooperative Agreement (the "Agreement ") to set forth the construction activities <br />and services that the City will undertake or make available in furtherance of the completion of <br />the Public Improvements, and to provide that the Successor Agency will pay for or reimburse <br />the City for actions undertaken and costs and expenses incurred in connection with such <br />work; <br />WHEREAS, the execution of an amended and restated version of the Original Cooperative <br />Agreement was approved by the governing board of the Successor Agency and by the City <br />Council by resolutions adopted on May 7, 2012; <br />WHEREAS, the Oversight Board approved execution of an amended and restated version <br />of the Original Cooperative Agreement by resolution adopted May 10, 2012 and in connection <br />with such approval directed staff to revise such agreement to reinstate certain Public <br />Improvements that had been included in the Original Cooperative Agreement; <br />WHEREAS, the governing board of the Successor Agency approved the execution of the <br />revised Agreement by resolution adopted June 4, 2012, subject to approval by the Oversight <br />Board; <br />WHEREAS, the Oversight Board will consider the revised Agreement at its meeting on <br />June 6, 2012; and <br />WHEREAS, the City and the Successor Agency intend the Agreement to evidence their <br />desire to re -enter into the Original Cooperative Agreement, as approved by the Oversight <br />Board. <br />NOW THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City of San <br />Leandro that it hereby: <br />1. Subject to approval of the Oversight Board, authorizes the City Manager to <br />execute and deliver the Agreement substantially in the form presented to the City Council. <br />2. Authorizes the City Manager or designee to execute such other documents and <br />to take such other actions as necessary to carry out the intent of this Resolution. <br />City of San Leandro Page 3 Printed on 512912012 <br />