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use will be of benefit to the Redevelopment Project, and the Legislature has further found and declared that the provision of replacement housing pursuant to Section 33413 is always of benefit to a project. The Agency has used Housing Funds to purchase certain real property located at 322 E. Adams and to assist Habitat for Humanity, a non-profit corporation ("Habitat"), with the purchase of 641 E. Adams (the "Properties"), both of which are located outside the Redevelopment Project area collectively. Habitat possesses the qualifications and financial resources necessary to acquire and insure development of the Properties as two single-family homes on 322 E. Adams, and one single-family home on 641 E. Adams, to be sold to qualified very-low income families in accordance with the purpose and objectives of the Redevelopment Plan. The Agency proposes to sell the Properties to Habitat, subject to the approval of this Council, at the appraised fair market value of the Properties as they currently exist as vacant lots. The sale/financing of the Properties shall be based on the terms and conditions of that certain Affordable Housing Partnership Agreement (one for each parcel of land). Said Agreement shall be entered between the Agency and Habitat, and shall include all of the provisions, terms, conditions and obligations required by state and local laws, as well as long-term affordability covenants benefiting the Agency. The City and Agency held a public hearing on the proposed Project and the Agreement as required for a small housing project by Section 33433(c) of the Community Redevelopment Law, after having duly provided notice of such public hearing in accordance with state law. The proposed sale of the Properties is exempt from further review and in accordance with the Califomia Environmental Quality Act, categorical exemption ER No. 03- 171 will be filed for 322 E. Adams, and categorical exemption ER No. O3-180 will be filed for 641 E. Adams. The City recognizes that it has received and heard all oral and written objections to the proposed sale, and to other matters pertaining to this transactions, and that all such oral and written objections are hereby overruled. Mo The City hereby finds and determines that the sale of the Properties will provide housing for very Iow- or Iow-income 3ersons. The City hereby approves the transfer sale and development of the Properties. Resolution No. 2003-073 Page 2 of 4