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Section 1: The City Council hereby finds based upon the facts set forth in the <br />foregoing recitals and the evidence set forth in the Staff Report, that: (i) the expenditure <br />of tax increment funds (including the proceeds of tax allocation bonds secured by such <br />funds) to undertake the installation and construction of the Public Improvements will be <br />of benefit to the Project Areas, (ii) no other reasonable means of financing the Public <br />Improvements is reasonably available, (iii) completion of the Public Improvements will <br />assist in the elimination of blighting conditions in the Project Areas; and (iv) completion <br />of the Public Improvements is consistent with the Implementation Plan adapted for the <br />Project Areas. <br />Section 2: The City Council hereby authorizes (i) the expenditure of $65,000 <br />in funds from the existing Plaza Project Area appropriation for the demolition of 262 <br />Davis Street, and (ii) the expenditure of $180,000 in funds from the existing Joint Project <br />Area appropriation for the construction of the Estudillo/Callan Garage. <br />Section 3: The City Council approves the Cooperation Agreement, and <br />authorizes the City Manager to execute the Cooperation Agreement substantially in the <br />form on file with the City Clerk. <br />Section 4: The City Manager is hereby authorized to undertake such actions <br />as necessary to carry out the intent of this Resolution. <br />Introduced by CouncilMember and passed and adopted by <br />the City Council of the City of San Leandro at a meeting duly held on the 8th day of <br />September, 2009, by the following vote: <br />Members of the City Council: <br />AYES: <br />NOES: <br />ABSTAIN: <br />ABSENT: <br />ATTEST: <br />Marian Handa, City Clerk <br />K:AAA-C\COLTNCIL~2009\9 SEP 08~PARKING LOT FUNDING\Parking Lot FUNDING CM AUTH RES.DOC <br />