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REL:adg <br />12/5/84 <br /> <br />RESOLUTION NO. 84- 161 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF SANTA ANA MAKING CERTAIN FINDINGS WITH <br />RESPECT TO THE CONSIDERATION TO BE RECEIVED <br />BY,THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br />CITY OF SANTA ANA PURSUANT TO A DISPOSITION <br />AND DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA <br />AND LOWY DEVELOPMENT CORPORATION FOR THE SALE <br />OF CERTAIN REAL PROPERTY IN THE SANTA ANA <br />REDEVELOPMENT PROJECT AND APPROVING THE <br />SALE OF SAID REAL PROPERTY UPON THE TERMS AND <br />CONDITIONS CONTAINED IN THAT AGREEMENT <br /> <br /> WHEREAS, the Community Redevelopment Agency of the <br />City of Santa Ana is engaged in activities necessary to ex- <br />ecute and implement the Redevelopment Plan for the Santa Ana <br />Redevelopment Project; and <br /> <br /> WHEREAS, in order to implement the Redevelopment <br />Plan, the Agency has agreed, subject to the approval of this <br />Council, to sell certain real property in the Project Area, <br />pursuant to the terms and provisions of that certain Dis- <br />position and Development Agreement between the Agency and <br />Lowy Development Corporation, which is on file in the office <br />of the Executive Director of the Agency, in which said real <br />property (hereinafter referred to as the "Site") is described; <br />and <br /> <br />terms, <br />local <br /> <br /> WHEREAS, the Agreement contains all the provisions, <br /> conditions and obligations required by state and <br />laws; and <br /> <br /> WHEREAS, Lowy Development Corporation possesses <br />the qualifications and financial resources necessary to <br />acquire and insure development of the Site, in accordance <br />with the purposes and objectives of the Redevelopment Plan; <br />and <br /> <br /> WHEREAS, the Agency has prepared, and the City <br />Council has reviewed and considered a Summary Report setting <br />forth the cost of the Agreement to the Agency, the estimated <br />~lue of the interests to be conveyed determined at the <br /> ighest uses permitted under the Redevelopment Plan and the <br />purchase price, and has made said Summary Report available for <br />public inspection in accordance with the California Community <br />Redevelopment Law; and <br /> <br /> <br />