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<br />Council hereby makes the following findings and determinations as warranted by <br />the Amendment: <br /> <br />A. The implementation of the Amendment (and the other <br />amendments causing the merger) will promote the public peace, health, safety <br />and welfare of the City of Santa Ana and will effectuate the purposes and policies <br />of the CRL. This finding is based on the fact that the Amendment is and will be <br />of substantial benefit to the community and contribute to the revitalization of <br />blighted areas through increased economic vitality of such areas, and increased <br />and improved housing opportunities, in particular the financial benefits and <br />feasibility of the Merged Project Area that will accrue due to the merger. <br /> <br />B. The carrying out of the Amendment would promote the <br />public peace, health, safety and welfare of the City and would effectuate the <br />purposes and policies of the CRL. This finding is based on the fact that <br />redevelopment will benefit the Project Area and the Merged Project Area as a <br />whole by correcting conditions of blight and by coordinating public and private <br />actions to stimulate development and improve the economic and physical <br />conditions of the Merged Project Area including the Project Area. <br /> <br />C. The adoption and carrying out of the Amendment is <br />economically sound and feasible. This finding is based on the fact that under the <br />Existing Plan and the Amendment the Agency will continue to be authorized to <br />seek and utilize a variety of potential financing resources, including property tax <br />increment revenues; that the nature and timing of public redevelopment <br />assistance within the Project Area will continue to depend upon the amount and <br />availability of such financing resources, including tax increment generated by <br />new investment in the Merged Project Area; that under the Existing Plan and the <br />Amendment no public redevelopment activity can be undertaken unless the <br />Agency can demonstrate that it has adequate revenue to finance the activity; and <br />that the financing plan included within the Agency's Report to the City Council <br />prepared for the Amendment demonstrates that sufficient financial resources will <br />be available to carry out the implementation of the Existing Plan and will allow <br />flexibility within the Merged Project Area in addressing the most pressing needs <br />and respond to market forces more effectively. <br /> <br />D. The Amendment is consistent with the General Plan, <br />including, but not limited to, the Housing Element of the General Plan, which <br />substantially complies with the requirements of Article 10.6 (commencing with <br />Section 65580) of Chapter 3 of Division 1 of Title 7 of the Government Code. <br /> <br />PA0407015.SNT A:CK:gbd <br />19090.003.006108/16104 <br /> <br />5 <br /> <br />11 B-35 <br />