2011-002 CRA - Laserfiche WebLink

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2. That no other reasonable means of financing the publicly owned improvement is available to the community; and 3. That the payment of funds for the cost of the publicly owned improvement is consistent with the Implementation Plan. H. The Agency and City find that the Projects will be of benefit to the merged Project Area as well as benefit the immediate neighborhood and all residents and visitors to the City. This finding is supported by the fact that public improvements in general facilitate the removal of blight and help create a safe, more cohesive and economically dynamic community. Development of library, park and recreational facilities, as well as public parking and open space improvements assist in removal of blight within densely populated neighborhoods currently underserved with these types of amenities. Public safety and street improvements eliminate blight, improve traffic flow, increase the safety of residents, promote job create and promote business attraction and retention. The City, public and business community will significantly benefit from the proposed public facilities on the Schedule of Projects. These public improvements will beautify public streets, promote business, and improve public infrastructure necessary to spur economic revitalization in the Project Area. 1. The City has determined that it lacks funds to pay for the Projects at this time, and there are no other reasonable means of financing said improvements. It has been difficult for the City, by itself, to provide sufficient funds to support the implementation of major public projects, programs and activities. The limited resources of the City's General Fund are committed to previously incurred obligations and planned projects. J. The Agency and the City further find and determine that the payment of funds for the implementation of the public projects, programs and activities is consistent with the Implementation Plan adopted pursuant to Health and Safety Code Section 33490. K. The Agency and City find that it is in the best interests of the City and 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 CRA Resolution No. 2011-002 Page 3 of 10