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RESOLUTION NO. 84-101 PAGE TWO WHEREAS, the Agency has approved a Negative Declara- tion, and this Council believes said Negative Declaration 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 determines that the sale and the redevelopment of the Site pursuant to the Agreement for the Sale and Development of Real Property 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 pur- poses 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 said Agreement is less than the fair market value of the Site in accordance with covenants and conditions governing .such sale~ but that such lesser consideration is necessary to effectuate the development of the Site in accordance with the Agreement. 3. The sale of the Site by the Agency to Kaufman and Broad Land Company upon the terms and conditions contained in the said Agreement is hereby approved. ADOPTED this ~lst day of August , 1984. ATTEST: ~C ~enr~eo fC ' t hGeUYcou/n c i 1 ~ ~.W.//~xembourger ~,/ May~ COUNCILMEMBERS: Luxembourger ~t Griset Acosta ~ Bricken ~ Johnson Y~ McQuigan -~t Y o u ng Aye APPROVED AS TO FORM: ~]-dwar~ J.~._~oper City Attorney