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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 Iow- or moderate-income persons. <br />Section ?. The City Council hereby finds and determines that, based upon <br />substantial evidence provided in the record before it, the Agreement is consistent with <br />the provisions and goals oftbe 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 <br /> <br />Miguel A. Pul?do <br />f?ayor <br />APPR?IlED A T F?R?I: <br />Resolution ?o. 20??-??? <br />PageSof?