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R. The development, construction, and operation of a Low Barrier Facility will <br /> provide benefit to the City by addressing chronic homelessness, which is anticipated to reduce <br /> public safety costs and other costs to the City. The City Council has determined that the value <br /> of such consideration is greater than ninety percent of the appraised fair market value of <br /> Unneeded Reservoir Property. This is particularly true in light of the restrictions placed on the <br /> Unneeded Reservoir Property under the Project Construction Covenant and the Project <br /> Construction Covenant. <br /> S. The City's real property manager has determined that such property disposition <br /> as provided in this resolution is commercially reasonable. The City Council finds that the City is <br /> acting in compliance with the requirements of Ordinance No. 2935-06, which establishes the <br /> process for the sale of City-owned real property. <br /> T. The City Council has determined that the transfer of Unneeded Reservoir <br /> Property to CHS as set forth in this resolution is necessary support of the poor and infirm. <br /> U. The City Council has determined that the transfer of the Unneeded Reservoir <br /> Property to CHS is for a fundamental purpose of government, in that the Low Barrier Facility is <br /> anticipated to alleviate chronic homelessness and to reduce City police costs and other public <br /> safety costs, and as such is for the preservation and promotion of the public welfare. <br /> NOW,THEREFORE, IT IS RESOLVED BY THE CITY COUNCIL OF THE CITY OF EVERETT THAT: <br /> Section 1. The Unneeded Reservoir Property, which is legally described in Exhibit A, is <br /> not and will not be needed for City purposes and is, therefore, declared to be surplus property. <br /> Section 2. The Mayor is authorized to execute the Property Disposition Agreement, <br /> the Use Restriction Covenant, the Project Construction Covenant, in substantially the form <br /> provided, and is further authorized to execute all other documents and instruments, in the form <br /> as approved by the Office of the City Attorney, necessary to close the transaction and transfer <br /> the Unneeded Reservoir Property to CHS. <br /> Section 3. The "WHEREAS" provisions of this resolution shall constitute findings and <br /> conclusions of the City Council, which are incorporated by reference as if fully set forth herein. <br /> Courfcilperson Introducing Resolution <br /> PASSED and APPROVED this 3rd day of Jan. , 2018. <br /> cil President' <br />