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151 <br /> <br />RESOLUTION NO. 88-15 <br /> <br /> A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br /> OF SANTA ANA MAKING CERTAIN FINDINGS WITH <br /> RESPECT TO THE CONSIDERATION TO BE RECEIVED <br /> BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br /> CITY OF SANTA ANA PURSUANT TO A DISPOSITION AND <br /> DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY <br /> REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA <br />AND HISTORIC FRENCH PARK ASSOCIATION, INC. FOR THE <br />SALE OF CERTAIN REAL PROPERTY AND APPROVING <br /> THE SALE OF SAID REAL PROPERTY UPON THE TERMS <br /> AND CONDITIONS CONTAINED IN THAT AGREEMENT <br /> <br /> WHEREAS, the Agency has agreed, subject to the approval of <br />this Council, to sell certain real property pursuant to the terms <br />and provisions of that certain Disposition and Development <br />Agreement between the Agency and Historic French Park Association, <br />Inc., which is on file in the office of the Executive Director of <br />the Agency, in which said real property (hereinafter referred to as <br />the ("Site") is described; and <br /> <br /> WHEREAS, the Agreement contains all the provisions, terms, <br />conditions and obligations required by state and local laws; and <br /> <br /> WHEREAS, the Agency has prepared, and the City Council has <br />reviewed and considered a Summary Report setting forth the cost of <br />the Agreement to the Agency, the estimated value of the interests <br />to be conveyed, and the purchase price, and has made said Summary <br />Report available for public inspection in accordance with the <br />California Community Redevelopment Law; and <br /> <br /> WHEREAS, pursuant to the provisions of the California <br />Redevelopment Law, the Agency and the City Council have held a duly <br />noticed joint public hearing on the proposed sale of the Site and <br />the proposed Agreement; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA, AS FOLLOWS: <br /> <br /> 1. The city Council has considered all terms and conditions <br />of the proposed sale and hereby finds and determines that the sale <br />and the redevelopment of the Site pursuant to the Disposition and <br />Development Agreement is in the best interests of the City and the <br />health, safety and welfare of its residents, and is in accord with <br />the public purposes and provisions of the applicable state and <br />local laws. <br /> <br /> 2. The City Council hereby finds and determines that the <br />consideration for the sale of the Site pursuant to the Disposition <br />and Development Agreement is not less that than the fair market <br />value of the Site in accordance with covenants and conditions <br />governing such sale. <br /> <br /> <br />