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T. The Developer Project will have significant impacts that cannot be <br />mitigated to below the level of significance; and <br />U. The Agency has prepared a Statement of Overriding Considerations, as <br />amended by the SSR in compliance with Public Resources Code Sections <br />21081 and CEQA Guidelines Section 15093, which finds that specific <br />economic, legal, social, technological or other benefits of the Developer <br />Project outweigh the significant and unavoidable impacts identified in the <br />EIR; and <br />V. The Agency has prepared a Mitigation Monitoring and Reporting Program <br />in compliance with Public Resources Code Sections 21081.6 and CEQA <br />Guidelines Section 15097 to ensure compliance with the mitigation <br />measures identified in the EIR during Developer Project implementation <br />and operation; and <br />W. All actions required by all applicable law with respect to the proposed <br />Agreement have been taken in an appropriate and timely manner; and <br />X. The Agency has reviewed the summary required pursuant to CRL <br />Section 33433 and evaluated other information provided to it pertaining to <br />the findings required pursuant to CRL Section 33433; and <br />Y. The City Council has previously determined, in its adoption of the <br />ordinance approving the Merged Project, that the portion of the Site <br />located within the Project Area is part of a blighted area and is <br />underutilized, as further set forth In the Implementation Plan previously <br />adopted and amended by the Agency pursuant to CRL Section 33490; <br />and <br />Z. The Agreement would assist in the alleviation or removal of blighting <br />conditions and provide housing for low- or moderate-income persons and <br />would further the goals of the Implementation Plan by providing for the <br />development of such housing; and <br />AA. The Agency has duly considered all terms and conditions of the proposed <br />Agreement and believes that the Agreement is in the best interests of the <br />Agency and the City and the health, safety, and welfare of its residents, <br />and in accord with the public purposes and provisions of applicable State <br />and local law requirements. <br />Section 2.The foregoing recitals are true and correct and are hereby incorporated <br />by reference as if set forth in full in this Resolution. <br />Section 3. The Agency hereby finds and determines that, based upon <br />substantial evidence provided in the record before it, the use of funds from the Agency's <br />Housing Fund in the amounts required by the Agreement is necessary because the <br />Agency and the Developer have made a good faith attempt but have been unable to <br />Resolution No. CRA 20'10-002 <br />Page 5 of 7 <br />