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a public hearing following notice, and (iii) the legislative body must approve the conveyance by a resolution adopting specified findings; WHEREAS, the Agency has caused a Reuse Report to be prepared, and the Agency and the City Council have caused notice to be published and have conducted public hearings in accordance with all legal requirements; and WHEREAS, the Agency has approved the Reuse Report, has approved the lease of the Property pursuant to the DDA, and has adopted the findings required by Section 33433 of the Health and Safety Code. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of San Leandro hereby: 1. Finds that the Project is exempt from CEQA pursuant to CEQA Guidelines Sections 15301 and 15302. 2. Finds that the lease and development of the Property in accordance with the DDA and the Ground Lease will assist in the elimination of blight in the Project Area, will facilitate the development of housing for low- and extremely low-income households, will further the goals of the Redevelopment Plan, and will be consistent with the implementation plan adopted in connection therewith. 3. Finds that the consideration to be paid for the lease of the Property is not less than the fair reuse value of the Property at the use and with the covenants and conditions imposed by the DDA and the Ground Lease. 4. Approves the Reuse Report. 5. Approves the lease of the Property to Developer in accordance with the DDA and the Ground Lease substantially in the forms on file with the City Clerk. 6. Authorizes the Developer to defer payment of City fees until the commencement of the Ground Lease. 7. Authorizes the Mayor and/or the City Manager to execute and deliver such instruments and to take such actions as necessary to carry out the intent of this Resolution. Introduced by Councilmember Badger and passed and adopted this 19th day of June, 2006, by the following vote: 803837-4 RESOLUTION NO. 2006~058 2