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RESOLUTION NO. 79- 156 PAGE TWO WHEREAS, pursuant to the provisions of the California Redevelopment Law, the Agency and the City Council have held a duly noticed joint public hearing on the proposed Sale of Site and the proposed First Amendment to Participation Agreement; and WHEREAS, the City Council has considered all terms and conditions of the proposed sale and believes that the redevelopment of the Site pursuant to the proposed First Amend- ment to Participation Agreement is in the best interests of the City and the health, safety, morals and welfare of its residents, and is in accord with the public purposes and pro- visions of the applicable state and local laws. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS FOLLOWS: 1. The City Council hereby finds and determines that the consideration for the sale of the Site pursuant to the First Amendment to Participation Agreement between the Agency and Steven J. Keiser and Paula B. Keiser is not less than the fair market value of the Site in accordance with the covenants and conditions governing the sale. 2. The City Council hereby finds and determines that the consideration for sale of the Site pursuant to the First Amendment to Participation Agreement is necessary to effectuate the purposes of the Redevelopment Plan. 3. The sale of the Site by the Agency to Steven J. Keiser and Paula B. Keiser and the First Amendment to Partici- pation Agreement which establishes the terms and conditions for the sale and development of the Site, are hereby approved. ADOPTED this by the following vote: ]Tth day of September , 1979, AYES: NOES: COUNCILMEN: COUNCILMEN: Bricken, Griset, Luxembourger, Serrato, Ward, Yamamoto None ABSENT: COUNCILMEN: Markel CLERK OF THE COUNCIL APPROVED AS TO FORM: KEITH L. GOW CITY ATTORNEY