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EJC: adg 2/7/80 RESOLUTION NO. 80-29 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA MAKING CERTAIN FINDINGS WITH RESPECT TO THE CONSIDERATION TO BE RECEIVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA PURSUANT TO A PARTICIPATION AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AND MOHLER-VISTA FOR THE SALE AND DEVELOPMENT OF CERTAIN REAL PROPERTY IN THE SANTA ANA REDEVELOPMENT PROJECT; APPROVING THE PROPOSED SALE OF SAID REAL PROPERTY; AND APPROVING THE PARTICIPATION AGREEMENT PERTAINING THERETO. WHEREAS, the Community Redevelopment Agency of the City of Santa Ana is engaged in activities necessary to execute and implement the Redevelopment Plan for the Santa Ana Redevelopment Project; and WHEREAS, in order to implement the Redevelopment Plan, the Agency proposes to sell certain real property in the Project area, pursuant to the terms and provisions of a Participation Agreement in which said real property is described; and WHEREAS, Mohler-Vista, a general partnership, has submitted to the Agency a written offer in the form of said Agreement to purchase the Property; and WHEREAS, the proposed Agreement contains all the provisions, terms, conditions and obligations required by state and local laws; and WHEREAS, Mohler-Vista possesses the qualifications and financial resources necessary to acquire and insure development of the Property, in accordance with the purposes and objectives of the Redevelopment Plan; and WHEREAS, the Agency has prepared, and the City Council has reviewed and considered a Summary Report setting forth the cost of the Agreement to the Agency, the estimated value of the interests to be conveyed determined at the highest uses permitted under the Redevelopemnt Plan, and the purchase price, and made said Summary Report available for public inspection in accordance with the California Community Redevelopment Law; and WHEREAS, the City Council has found on the basis of an Initial Study that said Agreement will not result in substantial changes in the Project or the circumstances under which the Project is to be undertaken, and that the proposed action will have no significant effect on the environment except as identified and considered in previous Environmental Impact Reports; and 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 the property and the proposed Agreement.