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055 REL: 10/14/91 RESOLUTION NO. 91-109 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA, APPROVING A DISPO- SITIONAND DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AND HISTORIC FRENCH PARK ASSOCIATION, INC., MAKING CERTAIN FINDINGS WITH RESPECT TO THE CONSIDERATION TO BE RECEIVED BY THE AGENCY PURSUANT TO SAID AGREEMENT; AND CONSENTING TO THE EXECUTION AND IMPLE- MENTATION OF SAID DISPOSITION AND DEVE- LOPMENT AGREEMENT WHEREAS, the Community Redevelopment Agency of Santa Ana (the "Agency") is engaged in activities develop low and moderate income housing in the City pursuant to the Community Redevelopment Law; and the city of necessary to of Santa Ana WHEREAS, in implementation of the Agency's low and moderate income housing program, the Agency proposes to sell certain real property located in the City of Santa Ana (the "Site") pursuant to the terms and provisions of a proposed Disposition and Development Agreement (the "DDA") to be entered into with Historic French Park Association, Inc. (the "Developer"); and WHEREAS, the DDA provides for the development of dwelling units affordable to and restricted to occupancy by moderate income households; and WHEREAS, the Developer has submitted to the Agency a written offer in the form of said DDA as submitted to purchase the the Site; and WHEREAS, the proposed DDA contains all the provisions, terms and conditions, and obligations required by State and local law; and WHEREAS, the Developer possesses the qualifications and financial resources necessary to acquire and insure the development of the Site in accordance with the purposes and objectives of the Community Redevelopment Law and the DDA; and