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<br />CWM:djm J1/06/89 (098/#25) <br />CWM:djm /29/89R <br />CWM:djm 12/04/89R <br /> <br />a less-than-significant level, but which the Final EIR states can <br /> <br />be reduced to a less-than-significant level if "applications for <br /> <br />up-zoning or intensification of use that would affect low income <br /> <br />housing in the Second Amendment Area" are denied, which provision <br /> <br />has been partially incorporated in this resolution. <br /> <br />The Ci ty <br /> <br />Council and the Agency each hereby determine that certain <br /> <br />economic and social benefits of the Second Amendment, as <br /> <br />mitigated under Section A. of this resolution, outweigh this one <br /> <br />unavoidable adverse environmental effect as well as any other <br /> <br />adverse effect whether found herein to be unavoidable or <br /> <br />otherwise, and the specific reasons that support and lead to such <br /> <br />determination follow: <br /> <br />l. The Second Amendment, given the projected growth <br /> <br />in assessed value of the Amendment Area over the life <br /> <br />of the Plan, will produce in excess of $50,000,000 <br /> <br />for the rehabilitation and replacement of housing for <br /> <br />low-and moderate-income families, thus helping to <br /> <br />achieve one of the most important goals of the <br /> <br />Community Redevelopment Law. <br /> <br />2. The Second Amendment (as stated in Table 5 of the <br /> <br />Draft EIR) will create an estimated l,96l new jobs. <br /> <br />The promotion and creation of new local employment <br /> <br />opportunities is one of the goals of the Second <br /> <br />Amendment, and is also one of the stated goals of the <br /> <br />Community Redevelopment Law. <br /> <br />3. As determined by the Legislature in enacting the <br /> <br />Communi ty Redevelopment Law, the benefits that will <br /> <br />22 <br /> <br />11190 <br />