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WHEREAS, the City desires to approve the afore-referenced Cooperation Agreement <br />between the Agency and the City whereby the Agency will provide funds for property <br />acquisition for 2512 Davis Street for the Eden Road Development project; and <br />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 the <br />Agency and the City, attached hereto as Exhibit "A," whereby the Agency has agreed to provide <br />the City with financial assistance with regard to the Project. <br />Section 3: The City Manager is hereby authorized and directed to execute the <br />Cooperation Agreement on behalf of the City. <br />Introduced by Councilmember Prola and passed and adopted this 4th day of May, 2009, <br />by the following called vote: <br />Members of the Council: <br />AYES: Councilmembers Gregory, Prola, Reed; Souza, Starosciak, Stephens; <br />Mayor Santos (7) <br />NOES: None (0) <br />ABSENT: None <br />ATTEST: <br />Marian Handa, City Clerk <br />(0) <br />RESOLUTION N0.2009-062 2 <br />