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0 RESOLUTION NO.____________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FOSTER CITY ACTING IN
ITS CAPACITY AS SUCCESSOR AGENCY TO THE FORMER CITY COMMUNITY
DEVELOPMENT AGENCY APPROVING THE THIRD AMENDMENT TO THE DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS (CC&Rs) FOR
THE METRO CENTER AND AUTHORIZING THE MAYOR TO EXECUTE SAME
CITY OF FOSTER CITY
WHEREAS, the Metro Center Declaration of Covenants, Conditions, and Restrictions (CC&Rs), dated May 15, 1985 and recorded in the Official Records of the San Mateo County Recorder as Instrument No. 85089495; and WHEREAS, the First Amendment to the Declaration of Covenants, Conditions and Restrictions for Metro Center is dated December 31, 1994; and WHEREAS, the Second Amendment to Declaration of Covenants, Conditions and Restrictions for Metro Center is dated June 22, 1995; and WHEREAS, the Community Development Agency is participating as a lender on the project by providing the major acquisition and construction loan to the project and as such is considered as a “mortgagee”; and
WHEREAS, the Existing Declaration and specifically the First Amendment authorize non-transient residential as a permitted use within Parcels 8 and 10 of the Metro Center project area but does not authorize non-transient residential as a permitted use on other parcels; and
WHEREAS, the Majority Owners have agreed to amend the Existing Declaration to expand the list of permitted uses to include non-transient residential uses; and WHEREAS, because this an amendment to the Declaration of Covenants, Conditions and Restrictions, the written consent of the City is necessary to authorize the amendment; and
WHEREAS, because the Community Development Agency is a Mortgagee, the written consent of at least 66% of all known Voting Mortgagee is also necessary to authorize the amendment; and
WHEREAS, the City Council has specified that it will serve as the successor agency to the City of Foster City Community Development Agency pursuant to Resolution No. 2012-2.
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0 NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Foster City acting in its capacity as successor agency to the former City Community Development Agency does hereby approve the Third Amendment to the Metro Center Declaration of Covenants, Conditions, and Restrictions.
BE IT FURTHER RESOLVED that the Mayor is hereby authorized to execute the “Consent of Voting Mortgagee” contained in the Third Amendment in a form approved by the City Attorney, with minor amendments that may be approved by the City Manager and City Attorney.
PASSED AND ADOPTED as a resolution of the City Council, acting in its capacity as Successor Agency to the Former City Community Development Agency, at the regular meeting held on the 17th day of November 2025, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
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STACY JIMENEZ, MAYOR
ATTEST:
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PRISCILLA SCHAUS, CLERK