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RESOLUTION NO. 85-12.6 PAGE TWO 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 WHEREAS, the Agency has found and determined that the Environmental Impact Reports prepared for the Redevelopment Projects are adequate for approval of the Amended Agreement and that no additional Environmental Impact Report is necessary, and this Council likewise believes said Environmental Impact Reports 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 Amended 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 con- ditions of the proposed sale and hereby finds and determines that the sale and the redevelopment of the Site pursuant to the Amended Agreement is the best interests of the City and the health, safety and welfare of its residents, and is in accord with the public purposes and provisions of the applic- able state and local laws. 2. The City Council hereby finds and determines that although the consideration for the sale of the Site pursuant to the Disposition and Development Agreement is less than the estimated value of the Site determined at the highest use permitted under the Redevelopment Plans, such lesser consider- ation is necessary to effectuate the purposes of the Redevel- opment Plans.