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(5) year period. The addresses of these properties are as follows: 511 E. Fifth Street, <br />602-604 E. Sixth Street, 511-517 N. Minter Street, and 720 E. Sixth Street. <br />The Agency intends that these properties shall be used for the development of <br />housing affordable to persons and families of low and moderate income, and hereby <br />requests a five (5) year extension in furtherance of said purpose pursuant to Health and <br />Safety Code § 33334.16. <br />G. The Agency has retained certain interests in real property acquired using <br />moneys from the Low and Moderate Income Housing Fund, and is currently in the <br />process of the development of the property for housing affordable to persons and <br />families of low and moderate income during or exceeding the ten (10) year statutory <br />period. The Agency intends that these properties ("Station District Properties") shall be <br />used for the development of housing affordable to persons and families of low and <br />moderate income, pursuant to the Disposition and Development Agreement authorized <br />on June 7, 2010, pursuant to Health and Safety Code § 33334.16. <br />Other Agency owned interests in real property acquired using moneys from the <br />Low and Moderate Income Housing Fund, which are currently in the process of the <br />development of the property for housing affordable to persons and families of low and <br />moderate income during or exceeding the ten (10) year statutory period are located at <br />802, 806, 812 N. Concord Street, 1244 E. Martha Lane, and 1308-1314 N. Eastwood <br />Avenue. Habitat for Humanity of Orange County has been selected as the developer of <br />these properties for the construction of housing affordable to persons and families of low <br />and moderate income, pursuant to the Disposition and Development Agreement <br />authorized on March 21, 2011, pursuant to Health and Safety Code § 33334.16. <br />H. The Agency adopts by reference and incorporates as though fully set forth <br />herein each and every finding contained in the supporting documentation which <br />accompanies the draft budget for fiscal year 2011-2012 and the staff report from the <br />Executive Director to the Agency Board, together with any exhibits attached to said <br />documents. The Agency's budget is a component of, and can be found in the City's <br />budget, for fiscal year 2011-2012. <br />I. The draft budget for fiscal year 2011-2012, together with the supporting <br />documentation presented to the Agency, complies in all respects with the requirements <br />of the Community Redevelopment Law, including but not limited to Health & Safety Code <br />§ 33606. <br />J. For those expenditures proposed which are outside the Merged <br />Redevelopment Project Area in the draft budget for fiscal year 2011-2012, the Agency <br />finds and declares that such expenditures will be of benefit to the Merged <br />Redevelopment Project Area. These projects include the Downtown Wayfinding <br />Program, the Downtown Fagade Program, improvements to the Downtown Parking <br />Garage(s) and Surface Lot(s), the South Main Building Renovation Program, the Station <br />District Cultural and Historical Identification Program, the Lacy Neighborhood Housing <br />Program and community center, as well as proposed open space, community center <br />CRA Resolution No. 2011-008 <br />Page 2 of 4