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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 suitable for use by the Authority. However, the <br />proceeds of the sale will be used directly to assist housing projects <br />pursuant to Health and Safety Code Section 34312.3(b). <br />I. The Authority is authorized to transfer the Property to Our Lady of <br />Guadalupe Church (Delhi) (the "Buyer ") pursuant to Health and Safety <br />Code Section 34312.3(b). <br />J. The sale of the property will assist in the elimination of blight by <br />assisting a local neighborhood church to accommodate its growing <br />population and will assist in the development and reconstruction of <br />community facility improvements, and is consistent with the <br />implementation plan adopted pursuant to Health and Safety Code <br />Section 33490. Additionally, the consideration is not less than the fair <br />market value at its highest and best use in accordance with the plan. <br />K. The Buyer and the Authority have reviewed the fair market value of the <br />Property, and have concluded that the value of such Property is <br />consistent with the purchase prices as set forth in the draft 'Purchase <br />and Sale Agreement' in the form submitted to the Authority <br />concurrently herewith (the "Agreement'). <br />L. 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 />M. A public hearing of the Authority on the proposed Agreement was duly <br />noticed in accordance with Health and Safety Code Sections 33431 <br />and 34312.3(b). <br />N. On September 6, 2016, the governing board of the Authority held a <br />public hearing on the proposed Agreement, at which time the Authority <br />reviewed and evaluated all of the information, testimony, and evidence <br />presented during the public hearing. <br />Resolution No. 2016 -003 <br />Page 2 of 5 <br />