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319 <br /> <br />RESOLUTION NO. gl-0R? <br /> <br />A RESOLUTION OF THE CITY OF SANTA ANA, APPROVING A <br />DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE <br />COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA <br />AND PAUL DEL VALLE, INC., MAKING CERTAIN FINDINGS WITH <br />RESPECT TO THE CONSIDERATION TO BE RECEIVED BY THE AGENCY <br />PURSUANT TO SAID AGREEMENT; AND CONSENTING TO THE <br />EXECUTION AND IMPLEMENTATION OF SAID DISPOSITION AND <br />DEVELOPMENT AGREEMENT <br /> <br /> WHEREAS, the Community Redevelopment Agency of the City of <br />Santa Aha (the "Agency") is engaged in activities necessary to <br />develop low- and moderate-income housing in the city of Santa Ana <br />pursuant to the Community Redevelopment Law; and <br /> <br /> WHEREAS, in implementation of the Agency's low- and moderate- <br />income housing program, the Agency proposes to sell certain real <br />property located in the City of Santa Aha (the "Site") pursuant to <br />the terms and provisions of a proposed Disposition and Development <br />Agreement (the "DDA") to be entered into with Paul Del Valle, Inc. <br />(the "Developer"); and <br /> <br /> WHEREAS, the DDA provides for the development of dwelling <br />units affordable to and restricted to occupancy by moderate-income <br />households; and <br /> <br /> WHEREAS, the Developer has submitted to the Agency a written <br />offer in the form of said DDA ss submitted to purchase the Site; <br />and <br /> <br /> WHEREAS, as set forth in the Community Redevelopment Law <br />(Health and Safety Code Section 33334.6) the Legislature has <br />determined that the use of Low- and Moderate-Income Housing Funds <br />for the provision and improvement of affordable housing outside of <br />redevelopment project areas can be of direct benefit to projects in <br />assisting the accomplishment of project objectives; and <br /> <br /> WHEREAS, the proposed DDA contains all the provisions, terms <br />and conditions, and obligations required by State and local law; <br />and <br /> <br /> WHEREAS, the Developer possesses the qualifications and <br />financial resources necessary to acquire and insure the development <br />of the Site in accordance with the purposes and objectives of the <br />Redevelopment Plan; and <br /> <br /> WHEREAS, the Agency has prepared, reviewed and considered a <br />summary report setting forth the cost of the DDA to the Agency, the <br /> <br /> <br />