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LES 8/26103 <br /> <br />affordable housing outside of redevelopment project areas can be of direct <br />benefit to those projects in assisting the accomplishment of project objectives. <br /> <br />E. Pursuant to Section 33334.2(g) of the Community Redevelopment Law, the <br />Agency may use Housing Funds to assist in the prevision of housing for Iow- or <br />moderate-income households outside the Redevelopment Project area if such <br />use will be of benefit to the Redevelopment Project, and the Legislature has <br />further found and declared that the prevision of replacement housing pursuant to <br />Section 33413 is always of benefit to a project. <br /> <br />F. The Agency has used Housing Funds to purchase certain real property <br />located at 322 E. Adams (the "Property"), which is located outside the <br />Redevelopment Project area. <br /> <br />G. In order to implement the Redevelopment Plan, the Agency has agreed, <br />subject to the approval of the City Council, to sell the Property pursuant to the <br />terms and provisions of an Affordable Housing Partnership Agreement (hereinafter <br />referred to as the "Agreement") between the Agency and Habitat for Humanity of <br />Orange County, a non-prefit corporation, which is on file in the office of the <br />Executive Director of the Agency, in which the Property is described. <br /> <br />H. The Agency has duly considered all of the terms and conditions of the <br />proposed sale, and believes that the proposed sale is in the best interests of the <br />City and the health, safety, morals and welfare of its residents, and in accord <br />with the public purposes and provisions of applicable state and local laws and <br />requirements. <br /> <br />I. The Agreement contains all of the provisions, terms, conditions and obligations <br />required by the state and local laws, including long-term affordability covenants <br />benefiting the Agency. <br /> <br />J. Habitat for Humanity possesses the qualifications and financial resources <br />necessary to acquire and insure development of the Property as two single-family <br />homes to be sold to qualified very-low income families in accordance with the <br />purpose and objectives of the Redevelopment Plan. <br /> <br />K. The Agency has held a public hearing on the proposed Project and the <br />Agreement as required for a small housing project by Section 33433(c) of the <br />Community Redevelopment Law, after having duly provided notice of such public <br />hearing in accordance with state law. <br /> <br />2 <br /> <br /> <br />