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<br />that the undergrounding project is of benefit to the project area and/or the <br />immediate neighborhood in which the project is located. <br /> <br />F. The Agency Board further finds that no other reasonable means of <br />financing the undergrounding project are available to the community. The <br />City of Santa Ana has adopted thirty-six undergrounding districts and <br />Rule 20A funds available to the City for the foreseeable future have been <br />committed to other undergrounding projects of higher priority. The <br />undergrounding project would not involve a major street project. as is typical <br />of approved City undergrounding districts, and a portion of the affected <br />street segments contain high energy 66 KV lines that are more expensive to <br />underground than utility lines on other City arterials. <br /> <br />G. The Agency and the City Council have held a duly noticed joint <br />public hearing this item. <br /> <br />Section 2. The Cooperative Agreement for Offsite Improvements is hereby <br />approved. and the Executive Director of the Agency is hereby authorized to execute the <br />Agreement. with such non-substantive changes as may be approved by Agency's <br />General Counsel, when and if the Geneva Commons and Nexus projects are approved. <br />Nothing herein is intended, nor shall it be interpreted as a pre-commitment or approval of <br />the proposed entitlements for either Geneva Commons or Nexus. <br /> <br />ADOPTED this ~day of April. 2005. <br /> <br /> <br />. Pulido <br /> <br />APPROVED AS TO FORM: <br />Joseph W. Fletcher, General Counsel <br /> <br />D /f/ <br /> <br /> <br />Resolution No. eRA 2005-001 <br />Page 2 of 3 <br />