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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 Property <br />was included on the approved Housing Asset Transfer Form. <br />H. The Property is not "surplus property" pursuant to Section 54221 of the <br />Government Code. The Authority believes that the Property will be <br />useful in pursuing the public purpose activities of the City to construct a <br />new ground water well and related water facilities to augment existing <br />capacity and replace existing aging wells that no longer produce high <br />quality water efficiently. <br />I. The Authority is authorized to transfer the Property to the City pursuant <br />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 Property, and have concluded that the value of <br />such Property is consistent with the purchase price as set forth to the <br />draft "Purchase and Sale Agreement" in the form submitted to the City <br />and the Authority concurrently herewith (the "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 July 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 />O. The Authority 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 />