06 - JOINT 5-Year Implementation Plan-Reso-COOP

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the common benefit of residents, employees, business tenants and property owners within the Project Area and the City as a whole for the Projects to be implemented and developed. L. The use of funds in the Agency's low and moderate income housing fund for the Projects located outside of the Project Area can be used in accordance with Section 33334.2 of the CRL because the use of such funds will be of benefit to the Project Area. M. The Agency Board and City Council have received and heard all oral and written objections to the proposed payments by the Agency to the City for the Projects as described in the Agreement, and to other matters pertaining to this transaction, and all such oral and written objections are hereby overruled. N. The Agency Board hereby finds and determines that the foregoing findings are true and correct. Section 2. The Agency hereby consents to the payment by the Agency to the City of up to $210,000,000.00 in Agency funds from the Merged Project Area for these public projects, programs and activities, in accordance with that certain Cooperative Agreement to be executed between the Agency and the City. Section 3. The Executive Director of the Agency, or his/her designee, is hereby authorized to take all steps, and to sign all documents and instruments necessary to implement and carry out and implement the Cooperative Agreement, and to administer the Agency's obligations, responsibilities and duties to be performed under the Cooperative Agreement on behalf of the Agency. Section 4. The Executive Director of the Agency, or her/his designee, is hereby authorized to execute the Cooperative Agreement on behalf of the Agency, together with such non-substantive changes as may be approved by the Agency Executive Director and the Agency General Counsel. Section 5. The Recording Secretary for the Agency shall attest to and certify the vote adopting this Resolution.