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Section The foregoing recitals are true and correct and are hereby <br /> incorparated by reference as if setforth in full in this Resolution, <br /> section . The City Council hereby finds and determines that, based upon <br /> substantial evidence provided in the record before it, the use of funds from the Agency's <br /> I~ow and lUloderate income l~ousir~g Fund pursuant to the Agreement constitutes a <br /> lawful expenditure of such funds and will be of benefit to the Project Area for the <br /> reasons set for#h in this Resolution, <br /> Section The City Council hereby finds and determines that, based upon <br /> substantial evidence provided in the record before it, the consideration for the Agency's <br /> conveyance of the Site to the Developer pursuant to the terms and conditions of the <br /> Agreement is not less than the fair reuse value at the use and with the covenants and <br /> conditions and development costs authorized by the Agreement. <br /> section . The City Council hereby finds and determines that, based upon <br /> substantial evidence provided In the record before it, the Agency's conveyance of the <br /> Site to the Developer for development pursuant to the Agreement and the CRL will <br /> eliminate blight and provide housing for low- ormoderate-income persons, <br /> Section The City Council hereby finds and determines that, based upon <br /> substantial evidence provided in the record before i#, the Agreement is consistent with <br /> the provisions and goals ofthe lrnplen~entation Plan <br /> Section The City Council hereby consents to the approval by the Agency of <br /> the Agreement in substantially the form presented to the Agency, subject to such <br /> revisions as may be rude by the Executive Director of the Agency or his or her <br /> designee. A copy of the Agreement when executed by the Agency shall be placed on <br /> file in the office of the City Clerk. <br /> Section 8. The City Council acknowledges that the Executive Director of the <br /> Agency is authorised, on behalf of the Agency, to make revisions to the Agreement <br /> which do not materially or substantially increase the Agency's obligations thereunder or <br /> materially or substantially change the uses or development permitted on the SiteF to <br /> sign all documents, to make ail approvals and tale all actions necessary or appropriate <br /> tc carry out and implement the Agreement and to administer the Agency's abligations, <br /> responsibilities and duties to be performed under the Agreement and related <br /> documents. <br /> ADAPTED this ~ day of , ~o~ 0, <br /> Miguel A. Pulido <br /> f~ayor <br /> <br /> APPR~IlED A T F~R~I: <br /> Resolution ~o. 20~~-~~~ <br /> PageSof~ <br /> .l <br /> <br />