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RESOLUTION NO. 81-80 <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 rehabilitation 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 leasehold <br />interest in the Site pursuant to the Commercial <br />Rehabilitation Participation Agreement between the Agency <br />and Odelle Marks, Blanche Ann Marks, and Ronald Ao Marks is <br />less that the fair market value of the said leasehold <br />interest determined at the highest use permitted under the <br />Redevelopment Plan, but that such lesser consideration is <br />necessary to effectuate the purposes of the Redevelopment <br />Plan. <br /> <br /> 3. The sale of the leasehold interest in the <br />site by the Agency to Odelle Marks, Blanche Ann Marks, and <br />Ronald A. Marks and the Commercial Rehabilitation <br />Participation Agreement which establishes the terms and <br />conditions for such sale and the rehabilitation of the Site, <br />are hereby approved. <br /> <br />ADOPTED this 18th day of May , 1981, <br />by the following vote: <br /> <br />AYES: <br /> <br />NOES: <br /> <br />COUNCILMEMBER: Acosta, Bricken, Griset, Luxemb0urger, <br /> McGuigan, Serrat0 <br />COUNCILMEMBER: None <br /> <br />ABSENT: COUNC ILMEMBER: Markel <br /> <br />ATTEST: <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />