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SUMMARY REPORT PURSUANT TO <br />CALIFORNIA HEALTH AND SAFETY CODE SECTION 33433 <br />ON A <br />DISPOSITION AND DEVELOPMENT AGREEMENT <br />BY AND BETWEEN <br />CITY OF SANTA ANA <br />AND <br />CITY OF SANTA ANA AS SUCCESSOR AGENCY <br />The California Health and Safety Code (HSC) Section 33433 requires that successor <br />agencies provide a detailed summary report when disposing of property. Compliant with <br />HSC Section 33433, this summary report (Summary Report) outlines the essential <br />aspects of the proposed Purchase and Sale Agreement dated June 18, 2024 (Purchase <br />and Sale Agreement) between the Successor Agency to the former Community <br />Redevelopment Agency of the City of Santa Ana (Successor Agency) and the City of <br />Santa Ana (City). The Purchase and Sale Agreement entails the City's acquisition of a <br />parcel situated at the southwest corner of Main Street and Third Street (See Table 1) from <br />the Successor Agency. The Property, presently serving as a 60-space parking lot, will <br />maintain its current use for parking, with the potential for future development dedicated <br />to public benefit purposes. <br />Table 1: Parcel Information <br />Attribute Description <br />Location Southwest Corner of Main Street and Third Street <br />APN 398-601-02 <br />Acquisition Date March 19, 1986 <br />Current Use 60-space parking lot <br />Planned Use Continued parking with potential future public benefit <br />development <br />Purchase Price $190,000 plus closing costs <br />Square Footage 27,830 sq. ft. / 0.64 ac. <br />BACKGROUND <br />In 1973, the City enacted an ordinance to establish the Santa Ana Community <br />Redevelopment Agency (RDA). Over the years, the RDA implemented numerous projects <br />EXHIBIT 5