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RESOLUTION NO. 82- 139 <br />PAGE TWO <br /> <br />this Council likewise believes said environmental impact <br />report to be adequate for its use in approving the terms and <br />conditions of sale of the Site; and <br /> <br /> WHEREAS, pursuant to the provisions of the <br />California Redevelopment Law, the Agency and the City <br />Council have held a duly noticed joint public hearing on the <br />proposed sale of the Site and the proposed Agreement; <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 sale of the redevelopment of the Site <br />pursuant to the Disposition and Development Agreement is in <br />the best interests of the City and the health, safety, <br />morals and welfare of its residents, and is in accord with <br />the public purposes and provisions of the applicable state <br />and local laws. <br /> <br /> 2. The City Council hereby finds and determines that <br />the consideration for the sale of the Site pursuant to the <br />Disposition and Development Agreement 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 the <br />Ferrante/Walder Joint Venture upon the terms and conditions <br />contained in the Disposition and Development Agreement is <br />hereby approved. <br /> <br />ADOPTED this 4th day of 0ct0ber , 1982. <br /> <br />ATTEST: <br /> <br /> ice C. Gu~, Cl~k ~he Council <br /> COUNCILMEMBERS: <br /> <br />Bricken Aye <br />Luxembourger Aye <br />Acosta Aye <br />Serrato Aye <br />Griset Aye <br />~a~kQ1 <br /> c~ulgan ~ <br /> <br />~ward J~. C~op~ity <br /> <br />Attorney <br /> <br /> <br />