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204 <br /> <br />RESOLUTION NO. 88-27 <br />PAGE TWO <br /> <br /> WHEREAS, the City Council, by its Resolut~ion <br />No. 87-91, has certified an environmental impact report <br />the development of the Site; and <br /> <br />for <br /> <br /> WHEREAS, pursuant to the provisions of the California <br />Redevelopment Law, the Agency and the City Council have held a <br />duly noticed joint public hearing on the proposed sale of the <br />Site and the proposed Agreement; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL <br />OF THE CITY OF SANTA ANA, AS FOLLOWS: <br /> <br /> 1. The City Council has considered all terms and con- <br />ditions of the proposed sale and hereby finds and determines <br />that the sale and the redevelopment of the Site pursuant to <br />the Disposition and Development Agreement is the best interests <br />of the City and the health, safety and welfare of its residents, <br />and is in accord with the public purposes and provisions of <br />the applicable state and local laws. ~- <br /> <br /> 2. The City Council hereby finds and determines that <br />the consideration for the sale of the Site pursuant to the <br />Disposition and Development Agreement is less than the fair <br />market value of the Site determined at the highest use permitted <br />under the Redevelopment Plan, but such lesser consideration is <br />necessary to effectuate the purposes of the Redevelopment Plan <br />for the reasons set forth in the Summary Report. <br /> <br /> <br />