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RESOLUTION NO. 79-185 <br />PAGE TWO <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL <br />OF THE CITY OF SANTA ANA, AS FOLLOWS: <br /> <br /> 1. The City Council has considered all terms and <br />conditions of the proposed sale and hereby finds and <br />determines that the redevelopment of the Site pursuant to the <br />proposed Agreement is in the best interests of the City and <br />the health, safety, morals and welfare of its residents, and <br />is in accord with the public purposes and provisions of the <br />applicable state and local laws. <br /> <br /> 2. The City Council hereby finds and determines <br />that the consideration for the sale of the Site pursuant to <br />the Disposition and Development Agreement between the Agency <br />and Ross and Fifth Development Company is less than the fair <br />market value of the Site determined at the highest use <br />permitted under the Redevelopment Plan, but that such lesser <br />consideration is necessary to effectuate the purposes of the <br />Redevelopment Plan. <br /> <br /> 3. The sale of the Site by the Agency to Ross <br />and Fifth Development Company and the Disposition and <br />Development Agreement which establishes the terms and <br />conditions for the sale and development of the Site, are <br />hereby approved. <br /> <br /> ADOPTED this 17th day of December , 1979, by <br />the following vote: <br /> <br />AYES: COUNCILMEN: <br />NOES: COUNCILMEN: <br /> <br />Bricken, Griset, Luxembourger, <br /> Serrato, Ward, Yamamoto <br />Markel <br /> <br />ABSENT: COUNC I LMEN: None <br /> <br />ATTEST: <br /> <br />APPROVED AS TO FORM: <br /> <br />KEITH L. GOW <br />City Attorney <br /> <br /> <br />