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Code Section 33490, in that they will further the goals and objectives of the Redevelopment Plan, improve the appearance of the Project Area, eliminate blight, improve access to Project Area businesses, support economic development, and support the development of affordable housing; and WHEREAS, the improvements 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 by the City Council of the City of San Leandro that it hereby: 1. Finds based upon the foregoing recitals and the evidence set forth in the Staff Report, accompanying this Resolution that: (i) the expenditure of tax increment funds for the public improvements identified in the Agreement will be of benefit to the Project Area by helping to eliminate blighting conditions and facilitating the development of low and moderate - income housing, (ii) no other reasonable means of financing such projects and programs is reasonably available, and (iii) completion of such projects is consistent with the Redevelopment Plan and the Implementation Plan adopted in connection therewith. 2. Finds that the Eden Road project described in Exhibit A to the Agreement is exempt from CEQA review pursuant to CEQA Guidelines Section 15303(d) because it involves the construction of a limited segment of roadway in an urbanized area. 3. Approves the Agency's expenditure of tax increment funds in the amounts and for the purposes specified in the Agreement. 4. Approves the actions to be undertaken and the work to be performed by the City as specified in the Agreement. 5. Authorizes the City Manager to execute the Agreement on behalf of the City substantially in the form on file with the City Clerk and to undertake such actions and to execute such additional instruments as may be necessary or desirable in order to carry out the intent of this Resolution. 6. Authorizes the City Clerk or designee to file a Notice of Determination and a Notice of Exemption for the approval of the Agreement with the County Clerk of Alameda County in conformance with the procedures provided for the filing of such notices in the California Environmental Quality Act and the CEQA Guidelines Introduced by City Councilmember Reed and passed and adopted at a meeting of the City Council of the City of San Leandro on the 7th day of March, 2011. by the following vote: RESOLUTION NO. 2011 -059 3