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f. The Agency has retained certain interests in real property acquired using moneys from the Low and Moderate Income Housing Fund, and has not initiated activities consistent with the development of the property for the development of housing affordable to persons and families of Iow and moderate income within the statutory five (5) year period. The addresses of said properties include the following: 809 - 809 ¼ E. Santa Ana Boulevard; 715- 719 N. Concord; 626-628 E. Santa Ana Boulevard; 2034 N. Bush; 2038 N. Bush; 630 N. Garfield; and 604 Lacy. The Agency intends that said properties shall be used for the development of housing affordable to persons and families of Iow and moderate income, and hereby requests a five (5) year extension in furtherance of said purpose pursuant to Health and Safety Code § 33334.16. g. The Agency adopts by reference and incorporates as though fully set forth herein each and every finding contained in the supporting documentation which accompanies the draft budget for fiscal year 2003-2004, including but not limited to the May 20, 2003 memorandum from the Executive Director to the City Manager, the letter from the City Manager to the Honorable Mayor and City Council Members, and the May 19, 2003 staff report from the Executive Director to the Agency, together with all exhibits attached to said documents. h. The draft budget for fiscal year 2003-2004, together with the supporting documentation presented to the Agency, complies in all respects with the requirements of the Community Redevelopment Law, including but not limited to Health & Safety Code § 33606. h. For those expenditures proposed which are outside a project area in the draft budget for fiscal year 2003-2004, the Agency finds and declares that such expenditures will be of benefit to the project area. This finding is made pursuant to Health & Safety Code § 33334.2(g)(1). 2. Adoption of Budqet. The fiscal year 2003-2004 budget of the Community Redevelopment Agency of the City of Santa Ana is hereby approved and adopted pursuant to Health & Safety Code § 33606.