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RESOLUTION NO. 90-02~ <br /> <br />REL:mb(4a) <br />3/05/90 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA MAKING CERTAIN FINDINGS <br />WITH RESPECT TO THE CONSIDERATION TO BE <br />RECEIVED BY THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA PURSUANT <br />TO A DISPOSITION AND DEVELOPMENT AGREEMENT <br />BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY <br />OF THE CITY OF SANTA ANA, AND HUTTON <br />DEVELOPMENT CO., INC. FOR THE SALE OF <br />CERTAIN REAL PROPERTY IN THE CENTRAL CITY <br />REDEVELOPMENT PROJECT AND APPROVING THE <br />SALE OF SAID REAL PROPERTY UPON THE TERMS <br />AND CONDITIONS CONTAINED IN THAT AGREEMENT <br /> <br /> WHEREAS, the Community Redevelopment Agency of the <br />City of Santa Ana is engaged in activities necessary to execute <br />and implement the Redevelopment Plan for the Santa Ana Redevelop- <br />ment Project; and <br /> <br /> WHEREAS, in order to implement the Redevelopment <br />Plan, the Agency has agreed, subject to the approval of this <br />Council, to sell certain real property in the Project Area, <br />pursuant to the terms and provisions of that certain Disposition <br />and Development Agreement between the Agency and Hutton Develop- <br />ment Co., Inc., which is on file in the office of the Executive <br />Director of the Agency, in which said real property (hereinafter <br />referred to as the "Site") is described; and <br /> <br /> WHEREAS, the Agreement contains all the provisions, <br />terms, conditions and obligations required by state and local <br />laws; and <br /> <br /> WHEREAS, Hutton Development Co., Inc. possesses <br />the qualifications and financial resources necessary to acquire <br />and insure development of the Site, in accordance with the <br />purposes and objectives of the Redevelopment Plan; and <br /> <br /> WHEREAS, the Agency has prepared, and the City Council <br />has reviewed and considered a Summary Report setting forth the <br />cost of the Agreement to the Agency, the estimated value of the <br />interests to be conveyed determined at the highest uses permitted <br />under the Redevelopment Plan and the purchase price, and has <br />made said Summary Report available for public inspection in <br />accordance with the 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 <br />duly noticed joint public hearing on the proposed sale of the <br />Site pursuant to the Agreement; <br /> <br />377 <br /> <br /> <br />