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WHEREAS, in order to facilitate acquisition of said land from CTA, and in the public <br /> <br /> interest and in the best interest of the Project, PRHA will enter into a Master Parking and Land <br /> <br /> Agreement with CTA by which PRHA commits to provide to CTA replacement parking for the <br /> <br /> use of the CTA Office Building (the "CTA Agreement"), and PRHA will assign the CTA <br /> <br /> agreement to the IDA; and <br /> <br /> WHEREAS neither PRHA nor the IDA has sufficient financial resources to meet the <br /> <br />obligations imposed by the CTA Agreement, and the City, in support of the public interest and <br /> <br />the Project, is willing to make those resources available subject to the terms hereof; <br /> <br /> NOW, THEREFORE, in consideration of the public benefits to accrue to the City and its <br /> <br />citizens from the undertaking and carrying out this Project and of the mutual covenants <br /> <br />hereinafter set forth, PRHA, the IDA, and the City agree as follows: <br /> <br /> AGREEMENT <br /> <br /> The parties agree to take all actions reasonably necessary to fully perform the duties and <br /> <br />obligations incumbent on them as set out herein or in the CTA Agreement in order to meet the <br /> <br />obligations of the CTA Agreement. The parties agree to be bound by the specific agreements, <br /> <br />actions and undertakings set forth in this Agreement and those matters necessary and incidental <br /> <br />thereto. The parties further specifically agree as follows: <br /> <br /> ARTICLE I <br /> <br /> FIJNDING, SERVICES, DUTIES, AND REPORTS <br /> <br /> 1.1 City to Provide Funds to PRHA and the IDA. Subject to appropriation, the City <br /> <br />agrees to take all actions reasonably necessary, including the issuance of municipal bonds, to <br /> <br />raise and to loan or grant to PRHA or to the IDA, as required, sufficient funds to administer their <br /> <br /> <br /> <br /> <br />