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Resolution approving a Purchase and Sale and Affordable Housing Agreement with SSF Housing Partners LLC, for the disposition of City-owned parcels at 1051 Mission Road (APNs 093-312-050 and 093-312-060) for $5,500,000.
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WHEREAS, the City of South San Francisco ("City") is the owner of certain real property located in the City of South San Francisco, California, with the address of 1051 Mission Road, known as County Assessor's Parcel Numbers ("APN") 093-312-050 and 093-312-060 ("1051 Mission Road"); and
WHEREAS, on June 29, 2011, the Legislature of the State of California (the "State") adopted Assembly Bill x1 26 ("AB 26"), which amended provisions of the State's Community Redevelopment Law (Health and Safety Code sections 33000 et seq.) (the "Dissolution Law"), pursuant to which the former Redevelopment Agency of the City of South San Francisco was dissolved on February 1, 2012. The City became the Successor Agency to the Redevelopment Agency of the City of South San Francisco ("Successor Agency"), and in accordance with the Dissolution Law, the Successor Agency prepared a Long Range Property Management Plan ("LRPMP"), which was approved by a resolution of the Oversight Board for the Successor Agency to the Redevelopment Agency of the City of South San Francisco ("Oversight Board") on May 21, 2015, and was approved by the Department of Finance ("DOF") on October 1, 2015; and
WHEREAS, consistent with the Dissolution Law and the LRPMP, certain real properties located in the City of South San Francisco, that were previously owned by the former Redevelopment Agency were transferred to the Successor Agency ("Agency Properties"); and
WHEREAS, on October 18, 2016, the City entered into an Amended and Restated Master Agreement for Taxing Entity Compensation ("Compensation Agreement") with the various local agencies who receive shares of property tax revenues from the former redevelopment project area ("Taxing Entities"), which provides that upon approva...
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