RDA Reso 2009-002 - Laserfiche WebLink

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amount of Two Million One Hundred Seventy Thousand Eight Hundred Dollars ($2,170,800) and would make certain in-kind contributions consisting of the construction of certain public improvements of benefit to the Project as more particularly described in the Financing Agreement; and WHEREAS, a Summary Report (the "Report"), has been prepared pursuant to Health and Safety Code Section 33679, and is on file with the Agency Secretary; and WHEREAS, notice of a public hearing and the availability of the Report was published in the Daily Review, a newspaper of general circulation in the City of San Leandro, as required by Health and Safety Code Section 33679; and WHEREAS, as more fully described in the Report, the expenditure of tax increment funds for the Project will improve a blighted, underutilized 2.68 acre site and provide a new school gymnasium and curbs, gutters, sidewalks and other necessary public infrastructure; and WHEREAS, as more fully described in the Report, the expenditure of tax increment funds for the Project will be of benefit to the Project Area and the immediately surrounding area by providing increased recreational opportunities for residents, relieving congestion in the City's existing public schools, bringing students and their families to the area with a resulting projected increase in retail sales, and complementing other public facilities, including the San Leandro High School Performing Arts Center and the Senior Community Center; and WHEREAS, as more fully described in the Report, the expenditure of tax increment funds for the Project is consistent with the Implementation Plan adopted by the Agency pursuant to Health and Safety Code Section 33490, in that the Project furthers the goals and objectives of the East 14th Street South Area Plan and upgrades the appearance of the Project Area; and WHEREAS, as more fully described in the Report, the City has no unrestricted general fund revenue available for such purposes without a reduction in vital community services, and the District has made a fmding that it does not have and cannot reasonably obtain revenue available for such purposes, and therefore no other reasonable means of fmancing the Project exists. NOW THEREFORE, BE IT HEREBY RESOLVED by the Redevelopment Agency of the City of San Leandro as follows: Section 1: The Agency hereby finds based upon the evidence set forth in the Summary Report and the staff report accompanying this Resolution, that (i) the expenditure of tax increment funds to undertake the Project will be of benefit to the Project Area, (ii) no other reasonable means of fmancing the Project is reasonably available, (iii) completion of the Project will assist in the elimination of blighting conditions in the Project Area; and (iv) completion of the Project is consistent with the Implementation Plan adopted for the Project Area. Section 2: Conditioned upon the consent of the City Council for the Agency's expenditure of tax increment funds, the Agency Board hereby approves the Financing RESOLUTION N0.2009-002 RDA 2