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P~L: adg 12~13~84 RESOLUTION NO. 84- 171 A RESOLUTION OF THE CITY COUNCIL OP T~E CITY OF SANTA ANA MAKING CERTAIN FINDINGS WITH RESPECT TO THE CONSIDERATION TO BE RECEIVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA PURSUANT TO A LEASE, OPTION AND DEVELOPMENT AGREEMENT (PARCEL 4) BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AND THOMAS M. LANDOLF FOR THE LEASE AND/OR SALE OF CERTAIN REAL PROPERTY IN THE SANTA ANA REDEVELOPMENT PROJECT AND APPROVING THE LEASE AND/OR SALE OF SAID REAL PROPERTY UPON THE TERMS AND CONDITIONS CONTAINED IN THAT AGREEMENT WHEREAS, the Community Redevelopment Agency of the City of Santa Ana is engaged in activities necessary to ex- ecute and implement the Redevelopment Plan for the Santa Ana South Main Street Redevelopment Project; and WHEREAS, in order to implement the Redevelopment Plan, the Agency has agreed, subject to the approval of this Council, to lease and/or sell certain real property in the Project Area, pursuant to the terms and provisions of that certain Lease, Option and Development Agreement (Parcel 4) between the Agency and Thomas M. Landolf, which is on file in the office of the Executive Director of the Agency, in which said real property (hereinafter referred to as the "Site") is described; and WHEREAS, the Agreement contains all the provisions, terms, conditions and obligations required by state and local laws; and WHEREAS, Thomas M. Landolf possesses the qualifica- tions and financial resources necessary to acquire and insure development of the Site, in accordance with the purposes and objectives of the Redevelopment Plan; and WHEREAS, the Agency has prepared, and the City Council has reviewed and considered a Summary Report setting forth the cost of the Agreement to the Agency, the estimated value of the interests to be conveyed determined at the highest uses permitted under the Redevelopment Plan and the