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(i) 710 E. 6th Street, consisting of approximately 0. 14 acres, APN 398- <br />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 />I. The Authority is authorized to transfer the Properties to the City <br />pursuant to Health and Safety Code Section 34312.3(b). <br />J. 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 <br />prices as set forth in the draft "Purchase and Sale Agreement' in the <br />form submitted to the City and the Authority concurrently herewith (the <br />"Agreement'). <br />K. The Authority 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 />L. 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 />M. 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 />N. All actions required by all applicable law with respect to the proposed <br />Agreement have been taken in an appropriate and timely manner. <br />Resolution 2016 -002 <br />Page 2 of 5 <br />