80A - TRANSIT CODE AND STATION DISTRICT - EXHIBIT G

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The Agreeentu~oufd assist in the alleviation or removal of blighting conditions and provide housing for lvv~- or moderate-incorne persons and ~raufd furtherthe goals of the lmplen~entation Pfau by providing for the development of such housing; and AA. The Agency has duly considered all terms and conditions of the proposed Agreer~ent and believes that the Agreement is ire the besf interests of the Agency and the City and the health, safety, and ~relfare of its residents, and in accord ~rlth the public purposes and provisions of appficable State and local lair requirements. Section The foregoing recitals are true and correct and are hereby incorporated by reference a ifset forth in full in this f~esolution, Section . The Agency hereby flr~ds and deterrr~ir~es that, based upon substantial evidence provided in the record before it, the use of funds from the Agency's Housing Fund in the amounts required by the Agreement is necessary because the Agency and the Developer have nude a goad faith attempt but have been unable to obtain sufficient car~mercial or private rneans of financing the Developer Project at the same level of affordability and quantity as i required by the Agreement. Section 4. TheAgency herebyfinds and determines that, based upon substantial evidence provided in the recard befare it, the use of funds fram the Agency's I~ovu and laderate lncan~e Housing fund pursuant to the Agreement constitutes a la~~rful expenditure of such funds and vuill be of benefit to the ProjectArea forthe reasons set forth in this Pealutlon. Section The Agency hereby finds and determines that, based upon substantiaf evidence provided in the recard before It}the consideration fo~the Agency's conveyance of the Site to the Developer pursuant to the #erms and conditions of the Agreement is nat less than the fair reuse value at the use and vrith the covenants and conditions and development costs authorized bythe Agreement. Section 6, The Agency f~ereby finds and determines that} based upan substantial evlclence provided in the recard before if, the Agency's conveyance of the Site to the I~eveloperfor development pursuant to the Agreement and the l~l~ gill eliminate bf'rght and provide hauling for lour- or rr~oderate-income persons, Section 7. The Agency hereby finds and determines that, based upon substantial evidence provided in the record before it, the Agreement is consistent Frith the provisions and goals of the lmplen~entation Pfau. Section S, The Agency hereby adapts the Findings of Fact and Statement of overriding Considerations, attached to this resolution as "Exhibit A,}' Section 9. The Agency hereby adopts the 11~itigation Monitoring and reporting Program, attached to this Resolution as ;`exhibit B.,, resolution No. CAA ~0~~-~~~ Page 5 of ~ .l r