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provided an opportunity for all persons to be heard, and has received and considered all evidence and testimony presented for or against any and all aspects of the Reuse Report; and WHEREAS, the conclusion of the Reuse Report, that the consideration for the property is not less than the fair reuse value at the use and with the covenants and conditions and development costs authorized by the sale or lease, is hereby accepted by the Council; and WHEREAS, the City of San Leandro will be reimbursed for 1016 and 1040 Davis, in accordance with the Agreement to Convey Property and To Deliver Proceeds From Future Disposition between the City and the Agency approved on September 16, 2003, in the amount of the fair reuse price less development costs borne by the Agency since its conveyance; and WHEREAS, the City Council is familiar with the contents of the Agreement; and WHEREAS, the City Manager recommends approval of the Agreement; NOW, THEREFORE, the City Council of the City of San Leandro hereby resolves as follows: Section 1. The Reuse Report required by Health and Safety Code §33433, copies of which are on file in the office of the City Clerk, and all related documents, correspondence and transmittals, including those documents relating to the Disposition and Development Agreement, copies of such Agreement are also on file in the office of the City Clerk, are hereby approved. Section 2. The Disposition and Development Agreement entered into between the Agency and 1040 Davis Partnership LLC is hereby approved. Introduced by Councilmember Santos and passed and adopted this 7th day of June 2004, by the following called vote: Members of the Council: AYES: Councilmembers Badger, Glaze, Grant, Nardine, Santos, Stephens; Mayor Young(7) NOES: None (0) ABSENT: None ATTEST: Marian Handa, City Clerk (0) RESOLUTION NO. 2004-081 2