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RESOLUTION NO. 83-137 PAGE TWO WHEREAS, the Agency has found and determined that the environmental impact report prepared for the Santa Ana Redevelop- ment Project is adequate for approval of the Disposition and Development Agreement, and that no additional environmental impact report is necessary, and this Council likewise believes said environmental impact report to be adequate for its use in approv- ing the terms and conditions of sale of the Site; 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 Site and the proposed Agreement; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS FOLLOWS: 1. The City Council has considered all terms and conditions of the proposed sale and hereby finds and determines that the sale and the redevelopment of the Site pursuant to the Disposition and Development Agreement is in the best interests of the City and the health, safety, morals and welfare of its residents, and is in accord with the public purposes and provisions of the appli- cable state and local laws. 2. The City Council hereby finds and determines that the consideration for the sale of the Site pursuant to the Disposition and Development Agreement is not less than the fair market value of the Site in accordance with covenants and conditions governing such sale. 3. The sale of the Site by the Agency to C.M. Venture upon the terms and conditions contained in the Disposition and Development Agreement is hereby approved. ADOPTED this 15th day of zl�Lz . anice C. Guy, Xlerrj6f COUNCILMEMBERS: Luxembourger Ave the Council November e ourger, M 1983. Griset Ave Acosta Aye APP OVED AS T FORM: Bricken Absent Johnson Aye McGuigan -Ty—e Edward C ope , City Attorney Young Aye