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334 -03; (ii) 714 E. 6th Street, consisting of approximately 0.14 acres, <br />APN 398 - 334 -04; (iii) 720 E. 6th Street, consisting of approximately <br />0.14 acres, APN 398 - 334 -05; (iv) 415 S. Raitt Street, consisting of <br />approximately 0.44 acres, APN 007 - 273 -12, and (v) 423 S. Raitt <br />Street, consisting of approximately 0.57 acres, APN 007 - 273 -14 <br />(collectively referred to herein as the "Properties "). <br />G. Pursuant to the Dissolution Act, the Authority prepared and the <br />California Department of Finance approved a Housing Asset Transfer <br />Form, which listed the housing assets of the Redevelopment Agency <br />eligible and required to be transferred to the Authority. The Properties <br />were included on the approved Housing Asset Transfer Form. <br />H. The Properties are not suitable for use by the Authority. However, the <br />City believes that the Properties will be useful in pursuing the public <br />purpose activities of the City. <br />The respective staffs of the City and the Authority have reviewed the <br />fair market value of the Properties, as aggregated, and have concluded <br />that the value of such Properties are consistent with the purchase price <br />as set forth in the draft "Purchase and Sale Agreement' in the form <br />submitted to the City and the Authority concurrently herewith (the <br />"Agreement'). <br />J. The City Council has duly considered all terms and conditions of the <br />proposed Agreement and believes that the Agreement is in the best <br />interests of the Authority and the City and the health, safety, and <br />welfare of its residents, and in accord with the public purposes and <br />provisions of applicable State and local law requirements. <br />K. A joint public hearing of the Authority and City Council on the proposed <br />Agreement was duly noticed in accordance with Health and Safety <br />Code Sections 33431 and 34312.3(b). <br />L. On April 5, 2016, the governing board of the Authority and the City <br />Council held a joint public hearing on the proposed Agreement, at <br />which time the City Council and the Authority reviewed and evaluated <br />all of the information, testimony, and evidence presented during the <br />joint public hearing. <br />M. All actions required by all applicable law with respect to the proposed <br />Agreement have been taken in an appropriate and timely manner. <br />N. The City Council has reviewed the staff report in connection with this <br />matter and has evaluated other information provided to it pertaining to <br />the findings proposed to be made hereunder. <br />Resolution No. 2016 -022 <br />Page 2 of 4 <br />