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V. CONSIDERATION RECEIVED AND REASONS THEREFOR <br />Under the terms of the Agreement, the Agency will be responsible for conveying the Site to the <br />Developer for $4,256,168 for the purpose of constructing and operating the Project. The <br />consideration being paid to the Agency is greater than the Site's fair market value. <br />The Agency has determined that this specific Project as provided in the DDA offers the best <br />complementary use for other land uses and activities on Marina Boulevard. The Project will be <br />developed in one phase in the near term and, together with the automobile dealership to be <br />developed on the adjacent parcel, will draw shoppers regionally to Marina Boulevard. Therefore, <br />the Project will further the overall goals to incent economic development in this area of the <br />Alameda County-City of San Leandro Redevelopment Project Area. <br />Conley Consulting Group Page 8 of 10 <br />9-9 Volvo Lavery 33433 10200.003 v5 September, 2001 <br />