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C:\Dmum m and SettingOmchumhU aal Settings \Temporary lntemet Fi1esl0LKE8VPA Dnfl 7 elm.dw <br />DRAFT 76=n <br />Joint Exercise of Powers Agreement <br />Housing Endowment and Trust of San Mateo County <br />This Agreement is entered into this day of , pursuant to the <br />provisions of the Joint Exercise of Powers Act (Title 1, Division 7, Article 1 16500 et seq. of the <br />California Government Code), by and between the County of San Mateo ( "County ") and those <br />cities and towns within the County of San Mateo who become signatories to this agreement, and <br />relates to the joint exercise of powers among the signatories hereto, hereafter collectively <br />referred to "Member Agencies ". <br />RECITALS <br />A. The Member Agencies are responsible for the health and safety of the residents within <br />their geographic boundaries. <br />B. Each Agency has the individual power to plan, acquire, construct, manage, regulate, <br />operate, and control the development, construction and operation of workforce and affordable <br />housing programs generated within its jurisdictional boundaries, as well as to create and issue <br />development agreements for such activities. <br />C. The Member Agencies find it in their mutual economic interest to address work force <br />and affordable housing issues on a regional level. <br />D. A county -wide adequate supply of housing will provide social and economic benefits <br />to residents and taxpayers of the Member Agencies. <br />E. The Member Agencies desire to act in the public interest to reduce the need for each <br />agency to act individually. <br />F. California Government Code 16500 et seq. ( "Joint Exercise of Powers Act' or the <br />"Act ") permits two or more public agencies to create joint powers authorities for the purposes <br />cited herein, and permits the agencies to exercise jointly any power that the public agencies <br />