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(3) No other reasonable means of financing the acquisition of the land or the installation or construction of the buildings, facilities, structures, or other improvements that are publicly owned, are available to the community; (4) The payment of funds for the acquisition of land or the cost of buildings, facilities, structures, or other improvements that are publicly owned is consistent with the implementation plan adopted pursuant to CRL Section 33490; and (5) The acquisition of land and the installation of each building, facility, structure, or improvement that is publicly owned is provided for in the Redevelopment Plans. WHEREAS, the Agreement requires the completion of environmental review pursuant to CEQA prior to the commencement of any public improvement listed in the Agreement; and WHEREAS, pursuant to State CEQA Guidelines Section 15378(b)(4), approval of the Agreement itself is not a project subject to the Califomia Environmental Quality Act ( "CEQA "), because the Agreement is related to a government funding mechanism or other government fiscal activities which do not involve a commitment to any specific project which may result in a potentially significant physical impact on the environment; WHEREAS, the Staff Report accompanying this Resolution, the Redevelopment Plans, and the Implementation Plan provide additional information upon which the findings and actions set forth in this Resolution are based; WHEREAS, the expenditure of tax increment funds for the projects identified in the Agreement will be of benefit to the Project Areas by facilitating the elimination of blight and the development of affordable housing; WI-IEREAS, the improvements to be funded pursuant to the Agreement are provided for in the Redevelopment Plans, and the expenditure of tax increment funds for such improvements is consistent with the Implementation Plan adopted by the Agency pursuant to Health and Safety Code Section 33490, in that they will further the goals and objectives of the Redevelopment Plans, improve the appearance of the Project Areas, eliminate blight, improve access to Project Area businesses, support economic development, and support the development of affordable housing; and WHEREAS, the activities and improvements proposed to be funded pursuant to the Agreement will not generate cash flow to the City or Agency, and therefore cannot support debt service; the City has no unrestricted general fund revenue available for such purposes without a reduction in vital community services; and the City does not have and cannot reasonably obtain revenue available for such purposes, and therefore no other reasonable means of financing the Project exists. NOW, THEREFORE, BE IT RESOLVED that the City Council hereby: RESOLUTION NO. 2011 -002 2