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pedestrian circulation and improve the aesthetic appearance of the <br />area. <br />(c) The sale of the property for the construction of the new automobile <br />and used automobile dealerships will help to eliminate economic and <br />social deficiencies by expanding employment opportunities, help to <br />halt declining or stagnant property values in the area, lower <br />commercial vacancy, and assist in effectuating other economic <br />development programs for retail uses in the area. <br />II. That the City Council finds that, on the basis of the following specific <br />findings, the sale of the property, which may be purchased in whole or in <br />part with tax increment revenues, set forth in the form of the Disposition and <br />Development Agreement between the Redevelopment Agency of the City of <br />San Leandro and the Batarse Family Trust, to the Batarse Family Trust is <br />consistent with the Implementation Plan for the County of Alameda - City of <br />San Leandro Joint Redevelopment Project. <br />(a) The Implementation Plan calls for economic development in the <br />Project Area, and new automobile and used automobile dealerships <br />will address economic deficiencies described in the Implementation <br />Plan. <br />(b) The Agreement will provide for elimination of incompatible uses and <br />remediation of hazardous materials. These are items which the <br />Implementation Plan cites as blighting conditions needing remediation. <br />III. That the City Council finds that, on the basis of the following specific <br />finding, the sale of the property, which may be purchased in whole or in part <br />with tax increment revenues, set forth in the form of the Disposition and <br />Development Agreement between the Redevelopment Agency of the City of <br />San Leandro and the Batarse Family Trust, to the Batarse Family Trust is for <br />an amount of consideration not less than fair consideration given the <br />restrictions, conditions and covenants requiring the construction and operation <br />of new and use automobile dealerships. <br />(a) The Agency has caused Keyser Marston Associates, Incorporated, to <br />prepare a reuse appraisal of the property to evaluate the fair value of <br />the property given the restrictions, conditions and covenants of the <br />Agreement. The reuse appraisal has been performed in a manner <br />consistent with normally accepted procedures of practitioners in the <br />same field. The reuse appraisal has concluded that $160,000 is the <br />fair market value and fair reuse value for the interests to be conveyed <br />to the Batarse Family Trust given the Agreement's covenants and <br />3 <br />