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RESOLUTION NO. 80-35 <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 <br />the proposed Agreement is in the best interests of the City <br />and the health, safety, morals and welfare of its residents, <br />and is in accord with the public purposes and provisions of <br />the 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 Santora Partners, a limited partnership, is less than <br />the fair market value of the Site determined at the highest <br />use permitted under the Redevelopment Plan, but that such <br />lesser consideration is necessary to effectuate the purposes <br />of the Redevelopment Plan. <br /> <br /> 3. The sale of the Site by the Agency to <br />Santora Partners, a limited partnership, and the Disposition <br />and 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 19th day of February , <br />1980, by the following vote: <br /> <br />AYES: COUNCILMEN: Griset, Luxembourger, Serrato, <br /> Ward, Yamamoto <br />NOES: COUNCILMEN: Bricken Markel <br /> <br />ABSENT: COUNCILMEN: None <br /> <br />ATTEST: <br /> <br />APPROVED AS TO FORM: <br /> <br />KEITH L. GOW <br />CITY ATTORNEY <br /> <br /> <br />