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• <br /> WHEREAS, the summary of the cost of the Agreement includes: land acquisition costs; <br /> the estimated value of the interest to be conveyed determined at the highest and best use <br /> permitted under the Plaza Redevelopment Plan; the estimated value of the loaning of moneys to <br /> Creekside on the terms and conditions established by the Agreement; the estimated value of the <br /> interest to be conveyed determined at use with conditions, covenants, and development costs <br /> required by the sale; and an explanation of why the sale of the property will assist in the <br /> elimination of blight; <br /> WHEREAS, the Agency has approved and transmitted to the City Council the Reuse <br /> Report required by Health and Safety Code § 33433 by Agency Resolution No. KC 2009 -25; <br /> WHEREAS, the City Council has received and has reviewed the Reuse Report required <br /> by Health and Safety Code § 33433 and is familiar with the contents thereof; <br /> WHEREAS, the City Council has reviewed the Agreement. including without limitation <br /> Exhibit F thereto (the "License Agreement "); <br /> WHEREAS, the City Council has held a properly noticed public hearing and taken all <br /> other actions required by law to prepare and present the Agreement, and the Reuse Report; and <br /> WHEREAS, the City Council does hereby take official notice of all documents, surveys, <br /> records and reports maintained in the ordinary course of business by the Agency and the City of <br /> San Leandro relating to the real properties which are the subject of the Agreement and the Reuse <br /> Report, and the City Council has considered the report and recommendations regarding the <br /> Agreement and the Reuse Report, and has provided an opportunity for all persons to be heard, <br /> and has received and considered all evidence and testimony presented for or against any and all <br /> aspects of the Agreement and the Reuse Report. <br /> NOW, THEREFORE, the City Council of the City of San Leandro does hereby <br /> RESOLVE as follows: <br /> That, pursuant to the California Health and Safety Code, the City Council makes the <br /> followine findings: <br /> 1. The City Council finds that, on the basis of the following specific findings, the sale of the <br /> property, which may be purchased in whole or in part with tax increment revenues, set <br /> forth in the Agreement between the Agency and Creekside will assist in the elimination <br /> of blight in the Plaza Redevelopment Project Area. <br /> (a) Development required under the Agreement, which includes the construction of <br /> three (3) high- quality office buildings, with high -end materials, a parking <br /> structure, and a plaza, all as described with particularity in the Agreement, will <br /> assist in eliminating the spread of blight by replacing an underutilized site with a • <br /> highly improved first quality office development with a high level of amenities. <br /> (b) The development of private improvements required under the Agreement will <br /> enhance the tax base of the Agency and the community, improve the visual <br /> 2 <br /> DOCSOC1750474v 1 X2425 8.0001 <br />