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~.ESOLUTION NO. 88-63 <br />PAGE TWO <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 conditions <br />of the proposed sale and hereby finds and determines that the sale <br />and the redeveloDment of the site pursuant to the Disposition and <br />Development Agreement is in the best interests of the City and <br />the health, safety and welfare of its residents, and is in accord <br />'with the public purposes and provisions of the applicable state <br />and 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 Dispositio~ <br />and Development Agreement is less than the fair market value of <br />the site determined at the highest permitted use, but such lesser <br />consideration is necessary to effectuate the purposes of redevelop. <br />ment and for the reasons set forth in the Summary Report. <br /> <br /> 3. The sale of the site and structure by the Agency to <br />Adrien and Barbara Houghton upon the terms and conditions containE,~ <br />in the Disposition and Development Agreement is hereby approved. <br /> <br />ADOPTED this ]6th day of August , 1988. <br /> <br />balg~l ~. Young ~ \ <br />Mayor <br /> <br />ATTEST: <br /> <br />~eo~ ' t~YCounc~~ /- <br /> <br />COUNCILMEMBERE: <br /> <br />Young Absent <br />McGuigan ~e <br />Acosta <br />Griset Aye <br />Hart Aye <br />M ay Ay <br />Pulido <br /> <br />APPROVED AS TO FORM: <br /> <br />Edwa~d%~.~Cooper <br />City At t~5-r ney <br /> <br /> <br />