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E. OHDC and C&C possess the qualifications and financial resources <br />necessary to acquire and insure development of the Property, in <br />accordance with the purpose and objectives of the Redevelopment Plan. <br />F. Pursuant to the provisions of the California Redevelopment Law, the <br />Agency and the City Council have held a duly noticed joint public hearing on <br />the proposed sale of the Property. <br />Section 2. The Disposition and Development Agreement is hereby approved, <br />and the Executive Director of the Agency is hereby authorized to execute the Agreement, <br />with such non-substantive changes as may be approved by Agency's General Counsel. <br />Section 3. The Executive Director of the Agency is hereby authorized to take all <br />steps, and to sign all documents and instruments necessary to implement and carry out <br />the Agreement on behalf of the Agency. <br />EXHIBIT 5 <br />2 <br />80A-14