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?. The Agreeentu?oufd assist in the alleviation or removal of blighting <br />conditions and provide housing for lvv?- or moderate-income persons and <br />?raufd furtherthe goals of the lmplen?entation Pfau by providing for the <br />development of such housing; and <br />AA. The Agency has duly considered ail terms and conditions of the proposed <br />Agreer?ent and believes that the Agreement is ire the best interests of the <br />Agency and the City and the health, safety, and ?relfare of its residents, and <br />in accord ?rlth the public purposes and provisions of appficable State and <br />iota! lair requirements. <br />Section ?. The foregoing recitals are true and correct and are hereby <br />incorporated by reference a ifset forth in full in this f?esolution, <br />Section . The Agency hereby flr?ds and deterrr?ir?es that, based upon substantial <br />evidence provided in the record before it, the use of funds from the Agency's Housing Fund <br />in the amounts required by the Agreement is necessary because the Agency and the <br />Developer have nude a goad faith attempt but have been unable to obtain sufficient <br />car?mercial or private means of financing the Developer Project at the same level of <br />affordability and quantity as i required by the Agreement. <br />Section 4. TheAgency herebyfinds and determines that, based upon substantial <br />evidence provided in the recard befare it, the use of funds fram the Agency's I?ovu and <br />laderate lncan?e Housing fund pursuant to the Agreement constitutes a la??rful expenditure <br />of such funds and vuill be of benefit to the ProjectArea forthe reasons set forth in this <br />Pealutlon. <br />Section The Agency hereby finds and determines that, based upon substantiaf <br />evidence provided in the recard before It}the consideration fo?the Agency's conveyance of <br />the Site to the Developer pursuant to the #erms and conditions of the Agreement is nat less <br />than the fair reuse value at the use and vrith the covenants and conditions and development <br />costs authorized bythe Agreement. <br />Section 6, The Agency f?ereby finds and determines that} based upan substantial <br />evlclence provided in the recard before if, the Agency's conveyance of the Site to the <br />I?eveloperfor development pursuant to the Agreement and the l?l? gill eliminate bf'rght and <br />provide hauling for lour- or rr?oderate-income persons, <br />Section 7. The Agency hereby finds and determines that, based upon substantial <br />evidence provided in the record before it, the Agreement is consistent Frith the provisions <br />and goals of the lmplen?entation Pfau. <br />Section S, The Agency hereby adapts the Findings of Fact and Statement of <br />overriding Considerations, attached to this resolution as "Exhibit A,}' <br />Section 9. The Agency hereby adopts the 11?itigation Monitoring and reporting <br />Program, attached to this Resolution as ;`exhibit B.,, <br />resolution No. CAA ?0??-??? <br />Page 5 of ?