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NOW THEREFORE, BE IT HEREBY RESOLVED by the City Council of the City of <br />San Leandro as follows: <br />Section 1: The City Council hereby finds that (i) the expenditure of Agency funds to <br />undertake the Project as set forth in this Resolution and the implementation plan heretofore <br />adopted by the Agency for the Project Area (the "Implementation Plan") will be of benefit to the <br />Project Area, (ii) no other reasonable means of financing the Project is reasonably available, (iii) <br />completion of the Project will eliminate blighting conditions in the Project Area; and (iv) <br />completion of the Project is consistent with the Implementation Plan. <br />Section 2: The City Council hereby approves the Cooperation Agreement between <br />the Agency and the City, attached hereto as Exhibit "A," whereby the Agency has agreed to <br />provide the City with financial assistance with regard to the Project. <br />Section 3: The Interim City Manager is hereby authorized and directed to execute the <br />Cooperation Agreement on behalf of the City. <br />Section 4: Funds are hereby appropriated from the Joint Project Area fund balance <br />for the purchase of the Property in the amount of $1,300,000. <br />Introduced by Councilmember and passed and adopted <br />this 15th day of December, 2008 by the following called vote: <br />Members of the Council: <br />AYES: <br />NOES: <br />ABSENT: <br />ATTEST: <br />Marian Handa, City Clerk <br />K:~AA-C\COUNC1L~2008\12 DEC 15\TRIANGLE FUNDING RES CC ver 2.doc <br />