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RESOLUTION NO. 81-25 <br />PAGE ~WO <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 Historic Restoration is less that the fair market value <br />of the Site determined at the highest use permitted under <br />the Redevelopment Plan, but that such lesser consideration <br />is necessary to effectuate the purposes of the Redevelopment <br />Plan. <br /> <br /> 3. The sale of the Site by the Agency to <br />Historic Restoration and the Disposition and Development <br />Agreement which establishes the terms and conditions for the <br />sale and development of the Site, are hereby approved. <br /> <br />by the <br /> <br />ADOPTED this 17th day of February , 1981, <br />following vote: <br /> <br /> AYES: COUNCILMEN: Griset, Luxemb0ur§er, Marke], Serrat0, <br /> Ward, Yamam0t0 <br /> <br /> NOES: COUNCILMEN: None <br /> <br />ABSENT: COUNCILMEN: Bricken <br /> <br />ATTEST: <br /> <br /> <br />