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City of Santa Aha ~uaevclopmcn= Project Area" which <br />Rules set forth ~he conditions for owner participation <br />in the City of Santa Ana Redevelopment Project. <br /> <br />Generally, the Rules provide for owner participation <br />in the following categories: <br /> <br />Retention of an improved parcel by its owner <br />where it is determined by the Agency that the <br />improvements can remain and will be rehabili- <br />tated in accordance with the requirements and <br />objectives of this Plan. <br /> <br />be <br /> <br />Retention by its owner of a parcel (improved <br />or unimproved) where it is determined by the <br />Agency that the land can and will be redeveloped <br />as a separate parcel in conformance with the <br />requirements of this Plan. <br /> <br />In both categories cited above, the affected owners <br />will be offered the opportunity of executing an <br />"Owner Participation Agreement" with the Agency, <br />which Agreement will provide for the necessary <br />improvement or redevelopment work to be accomplished <br />by the owner in order to meet the objectives of this <br />Plan. <br /> <br />In the event an affected owner fails or refuses to <br />execute such an Agreement, the Agency may then <br />acquire his property in the same manner as other <br />properties are acquired, and dispose of the land <br />or land and improvements, as the case may be, to <br />a redeveloper willing to accomplish the objectives <br />of this Plan. <br /> <br />In the event an affected owner executes such an <br />Agreement, and later fails to perform in accordance <br />with its terms, the Agency may then acquire his <br />property in the same manner as other properties <br />are acquired, and dispose of the land or land and <br />improvements, as the case may be, to a redeveloper <br />willing to accomplish the objectives of this Plan; <br />provided, that the Agency may establish such pro- <br />visions in owner participation agreements as it <br />deems necessary in order to prevent speculation. <br /> <br />B~siness Occupants <br /> <br />In accordance with the Community Redevelopment Law <br />of the State of California, the Redevelopment Agency <br /> <br />8 <br /> <br /> <br />