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WHEREAS, the Oversight Board held a duly noticed public comment session on <br /> October 8, 2012 and at least 5 business days later considered the Due Diligence <br /> Review at a duly noticed public meeting on October 15, 2012. <br /> NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR <br /> AGENCY TO THE REDWOOD CITY REDEVELOPMENT AGENCY DOES HEREBY <br /> RESOLVE AS FOLLOWS: <br /> Section 1. The recitals set forth above are true and correct and incorporated <br /> herein. <br /> Section 2. The Oversight Board hereby approves the Due Diligence Review for <br /> the Low and Moderate Income Housing Fund of the former Redevelopment Agency, <br /> attached hereto as Exhibit A and incorporated herein by this reference. <br /> Section 3. This resolution takes effect upon adoption. <br /> * * * <br /> ATTY/RES0.2794/OB APPROVING DUE DILIGENCE REVIEW OB RESO.#12-04 <br /> REV: 10-04-12 VR MUFF#451 <br />