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RESOLUTION NO. 84- <br />PAGE TWO <br /> <br /> WHEREAS, the Agency has found and determined that <br />the Environmental Impact Report prepared for the Santa Ana <br />Redevelopment Project is adequate for approval of the Disposi- <br />tion and Development Agreement, and that no additional Environ- <br />mental Impact Report is necessary, and this Council likewise <br />believes said Environmental Impact Report to be adequate for <br />its use in approving the terms and conditions of sale of the <br />Site; and <br /> <br /> WHEREAS, pursuant to the provisions of the California <br />Redevelopment Law, the Agency and the City Council have held a <br />duly noticed joint public hearing on the proposed sale of the <br />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 con- <br />ditions of the proposed sale and hereby finds and determines <br />that the sale and the redevelopment of the Site pursuant to <br />the Disposition and Development Agreement is in the best in- <br />terests of the City and the health, safety and welfare of its <br />residents, and is in accord with the public purposes and pro- <br />visions of the applicable state 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 not less than the <br />fair market value of the Site in accordance with covenants <br />and conditions governing such sale. <br /> <br /> 3. The sale of the Site by the Agency to Lowy Develop- <br />ment Corporation upon the terms and conditions contained in <br />the Disposition and Development Agreement is hereby approved. <br /> <br /> ADOPTED this 7th day of January <br />ATTEST .. ~ <br /> <br />~anice C. Guy/Cle~/of the Council <br />COUNCILMEMBERS: <br /> <br />, 198~ . <br /> <br />Daniel E. Griset <br />Mayor <br /> <br />Griset Aye <br />Luxembourger Aye <br />Acosta Aye <br />Hart Aye <br />Johnson Aye <br />McQuigan Aye <br />Young Aye <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />