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WHEREAS, the City Council has held a properly noticed public hearing and taken all other actions required by law to prepare and present the Agreement, and the Reuse Report; and WHEREAS, the City Council does hereby take official notice of all documents, surveys, records and reports maintained in the ordinary course of business by the Agency and the City of San Leandro relating to the real property which is the subject of the Agreement and the Reuse Report, and the City Council has considered the report and recommendations regarding the Agreement and the Reuse Report, and has 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 Agreement and the Reuse Report. NOW, THEREFORE, the City Council of the City of San Leandro does hereby RESOLVE as follows: That, pursuant to the California Health and Safety Code, the City Council makes the following findings: I. The City Council finds that, on the basis of the following specific findings, the sale of the property, which was purchased in whole or in part with tax increment revenues, set forth in the Agreement between the Agency and Creekside will assist in the elimination of blight in the Plaza 2 Redevelopment Project Area. (a) Development required under the Agreement, which includes the construction of two high-quality office buildings, with high-end materials, and a plaza, all as described with particularity in the Agreement, will assist in eliminating the spread of blight by replacing an underutilized site with a highly improved first quality office development with a high level of amenities. (b) The development of private improvements required under the Agreement will enhance the tax base of the Agency and the community, improve the visual appearance of the Property and its vicinity, and establish an aesthetically pleasing gateway to the Project Area and the community. (c) The provision of improvements to and the maintenance of a certain area adjacent to the property (the "Adjacent City Property") will enhance the appearance and utility of publicly owned land within the Project Area. (d) The sale of the Property for the high level of development referred to under the terms and conditions of the Agreement will help to eliminate economic and social deficiencies by expanding employment opportunities, help to halt declining or stagnant property values in the area, provide first-class office space and assist in effectuating other economic development programs for commercial and office uses in the area by stimulating other private investment. II. The City Council finds that, on the basis of the following specific findings, the sale of the Property, which was purchased in whole or in part with tax increment revenues, set forth in the Agreement between the Agency and Creekside is consistent with the Implementation Plan for the Plaza 2 Redevelopment Project. 2 g:\debbie\2000\Creekside Business Park\Resolution approving the Reuse Report & DDA CC.DOC ~~°'