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REL: -9 11~ RESOLUTION NO. 85- A RESOLUTION OF THE CITY COUNCIL OF SANTA ANA MAKING CERTAIN RESPECT TO THE CONSIDERATION TO BE BY THE COMMUNITY REDEVELOPMENT CITY OF SANTA ANA PURSUANT TO AMD DEVELOPMENT AGREEMENT BET% REDEVELOPMENT AGENCY OF THE AND URBAN VENTURES CORPORATIO FURNITURE ASSOCIATES FOR TI REAL PROPERTY IN THE SANTA PROJECT AND APPROVING THE E PROPERTY UPON THE TERMS AN TAINED IN THAT AGREEME~ CITY ]CEIVED OF THE THE COMMUNITY OF SANTA ANA McMAHONS OF CERTAIN REDEVELOPMENT OF SAID REAL CONDITIONS CON- WHEREAS, the Communi~ City of Santa Ana is engaged i! ecute and implement the Redevelopment Project; and edevelopment Agency of the ~ctivities necessary to ex- opment Plan for the Santa Ana WHEREAS, Plan, the Agency has Council, to sell pursuant to the term position and l Urban Ventures Co which is on file of the Agency, in referred to as th in ~ to implement the Redevelopment ~d, subject to the approval of this real property in the Project Area, provisions of that certain Dis- nt Agreement between the Agency and ration and McMahon's Furniture Associates, the office of the Executive Director lich said real property (hereinafter "Sit~') is described; and / WHER~A~, the Agreement contains all the provisions, terms, condi~ns and obligations required by state and local laws~ , W~EREAS, Urban Ventures Corporation possesses the qualificait~ns and financial resources necessary to acquire and insure/development of the Site, in accordance with the purposes~nd objectives of the Redevelopment Plan; and / / WHERE~S, the Agency has prepared, and the City Counci~ has reviewed and considered a Summary Report setting forth~he cost of the Amended Agreement to the Agency, the estin~ted value of the interests to be conveyed determined at the ~ighest uses permitted under the Redevelopment Plan and the pu~as? price~ and has made said Summary Report available for public inspection in accordance with the California Community Redevelopment Law; and