Resolution No.

Board of Supervisors, County of San Mateo, State of California

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Resolution Authorizing Execution of an Agreement with the Colma Apartment Associates, L.P., a Delaware Limited Partnership, for Funding of Public Roadway Related Facilities in Conjunction with the Construction of an Apartment Complex near the Colma BART Station - Colma Area

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RESOLVED, by the Board of Supervisors of the County of San Mateo, State of California, that

WHEREAS, this Board approved the Colma BART Station Area Plan (Plan) which identified high-density development linked to the BART Station as a goal of the Plan; and

WHEREAS, Colma Apartment Associates, L.P., a Delaware Limited Partnership (Developer) is currently constructing a high density housing complex (complex) on the San Mateo County Transit District (District) property located adjacent to the Colma BART Station and within the Plan area; and

WHEREAS, this County qualified for Federal Surface Transportation Program funding that is made available through the City/County Association of Government’s (C/CAG) Transit Oriented Development Incentive Program (TOD), as a result of the Developer’s construction of the complex on the San Mateo County Transit District (SamTrans) property near the Colma BART Station; and

WHEREAS, the Developer is required to construct public improvements in El Camino Real and Michael D. Nevin Way, in conjunction with the construction of the complex; and

WHEREAS, said improvements are precluded from being financed with TOD funds made available to the County due to the timing of the work and the time that it takes to obtain federal and state approvals in conjunction with TOD funding; and

WHEREAS, the Director of Public Works has recommended that this Board authorize the execution of an agreement with the Developer which would reimburse the Developer for the cost of installing public improvements that will be constructed in conjunction with Developers’ complex, in an amount equal to the TOD funds that County has qualified for as a result of Developer's construction of the complex; and

WHEREAS, this Board has considered and concurs in the recommendation of the Director of Public Works that an agreement should be executed with the Developer; and

WHEREAS, there has been presented to this Board a form of agreement and this Board has considered same.

NOW THEREFORE, IT IS HEREBY DETERMINED AND ORDERED that the President of this Board of Supervisors be, and is hereby, authorized and directed to execute said Agreement on behalf of the County and the signature of the Clerk of this Board shall attest thereto.

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