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RESOLUTION NO. 84-18 PAGE TWO WHEREAS, the Agency has found and determined that the environmental impact report prepared for the Santa Ana Redevelopment Project is adequate for approval of the Dispo- sition 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 approving 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 deter- mines that the sale and the redevelopment of the Site pur- suant to the Disposition and Development Agreement is in the best interests of the city and the health, safety and wel- fare of its residents, and is in accord with the public purposes and provisions of the applicable 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 coven- ants and conditions governing such sale. 3. The sale of the Site by the Agency to C. M. Plaza upon the terms and conditions contained in the Dispo- sition and Development Agreement is hereby approved. ADOPTED this 21st day of August , 198~. ATTEST: COUNCILMEMBERS: LUXEMBOURGER ~ve GRISET Absent ACOSTA Aye BRICKEN Aye JOHNSON Aye MCGUIGAN YOUNG APPROVED AS TO FORM: EDWARD 0.~PER CITY ATTORNEY