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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br />THE CITY OF SANTA ANA, AS FOLLOWS: <br /> <br /> 1. The City Council hereby finds and determines <br />that the consideration for the sale of the Site pursuant to <br />the Participation Agreement between the Agency and Heritage <br />Development Company is not less than the fair market value of <br />the Site in accordance with the covenants and conditions governing <br />the sale. <br /> <br /> 2. The City Council hereby finds and determines <br />that the consideration for sale of the Site pursuant to the <br />Agreement is necessary to effectuate the purposes of the Re- <br />development Plan. <br /> <br /> 3. The sale of the Site by the Agency to Heritage <br />Development Company and the Participation Agreement which <br />establishes the terms and conditions for the sale and development <br />of the Site, are hereby approved. <br /> <br />ADOPTED this28th day of March , <br />1978, by the following vote: <br /> Brandt, <br /> AYES: COUNCILMEN: <br /> <br /> Ward, Bricken, Ortiz, <br />Evans, Garthe <br /> <br />NOES: <br /> <br />ABSENT: <br /> <br />ATTEST: <br /> <br /> ~OR~NC~ <br /> <br />COUNCILMEN: <br />COUNCILMEN: <br /> <br />Yamamo7 <br /> <br /> MAYOR <br /> <br />O~ THE COUNCIL <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />