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REL: adg 8~6/85 RESOLUTION NO. 85-103 A RESOLUTION OF THE CITY COUNCIL OF THE 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 AN OWNER PARTIC- IPATION AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AND MAIN STREET PARTNERS FOR THE SALE OF CERTAIN REAL PROPERTY IN THE SANTA ANA REDEVELOPMENT PROJECT AND APPROVING THE SALE OF SAID REAL PROPERTY UPON THE TERMS AND CONDITIONS IN THAT AGREEMENT CONTAINED 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 Redevelopment Project; and WHEREAS, in order to implement the Redevelopment Plan, the Agency has agreed, subject to the approval of this Council, to sell certain real property in the Project Area, pursuant to the terms and provisions of that certain Owner Participation Agreement between the Agency and Main Street Partners, which is on file in the office of the Executive Director of the Agency, in which said real property (herein- after 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, Main Street partners possess the quali- fications 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 purchase price, and has made said Summary Report available for public inspection in accordance with the California Community Redevelopment Law; and