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<br />NOW, THEREFORE, BE IT RESOLVED BY THE REDEVELOPMENT AGENCY <br /> <br /> <br />OF THE CITY OF REDWOOD CITY AS FOLLOWS: <br /> <br />1. The recitals set forth above are true and correct and are hereby incorporated <br /> <br />by this reference as if fully set forth in their entirety. <br /> <br />2. The Agency hereby finds and determines that use of Redevelopment Housing <br /> <br />Set-Aside Funds pursuant to the Owner Participation Agreement will benefit <br /> <br />Redevelopment Plan Area A by providing affordable housing to very low and low <br /> <br />income disabled residents. <br /> <br />3. The Agency hereby approves the Owner Participation Agreement for the <br /> <br />Cedar Street Apartments by and between the City, the Agency and MHASMC, on file <br /> <br />and made available at the City Clerk's office and incorporated herein by this reference, <br /> <br />and the Executive Director and Agency Secretary are hereby authorized and directed to <br /> <br />execute and to attest thereto, respectively. <br /> <br />4. This Resolution shall take effect upon its adoption. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />ATTYIRESO/RESO.1878 <br />121008 <br /> <br />3 <br /> <br />6.2A <br />Page 7 <br />