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2 <br /> <br />G. Accordingly, in furtherance of its wind-down of the Former Agency’s <br />affairs, the Successor Agency desires to transfer the Properties to the <br />City pursuant to HSC section 34181(a). <br /> <br />H. The City and the Successor Agency have reviewed the fair market <br />value of the Properties, as aggregated, and have concluded that the <br />value of such Properties are consistent with the purchase price as set <br />forth in the draft “Purchase and Sale Agreement” in the form submitted <br />to the City and the Successor Agency concurrently herewith (the <br />“Agreement”). <br /> <br />I. The fair market value and purchase price was established as $598,000 <br />by an appraisal conducted on April 29, 2022. <br /> <br />J. A joint public hearing of the Successor Agency and City Council on the <br />proposed Agreement was duly noticed in accordance with HSC <br />sections 33431. <br /> <br />K. On September 6, 2022, the governing board of the Successor Agency <br />and the City Council held a joint public hearing on the proposed <br />Agreement, at which time the City Council and the Successor Agency <br />reviewed and evaluated all of the information, testimony, and evidence <br />presented during the joint public hearing. <br /> <br />L. All actions required by all applicable law with respect to the proposed <br />Agreement have been taken in an appropriate and timely manner. <br /> <br />M. The City Council has reviewed the staff report in connection with this <br />matter and has evaluated other information provided to it pertaining to <br />the findings proposed to be made hereunder. <br /> <br />N. The City Council has considered all of the terms and conditions of the <br />proposed Agreement and believes that the sale of the Properties <br />pursuant to the Agreement is in the best interests of the City and the <br />health, safety, and welfare of its residents, and in accord with the <br />public purposes and provisions of applicable State and local laws and <br />requirements. <br /> <br />Section 2. The City Council hereby finds and determines that the disposition <br />by sale of the Properties by the Successor Agency to the City pursuant to the <br />Agreement will further the achievement of the City’s public purposes by making property <br />available for use by the City for park space. <br /> <br />Section 3. The City Council finds and determines that, based upon substantial <br />evidence provided in the record, the consideration for the Successor Agency’s sale of