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099 <br /> <br />REL: 6/9/94 <br /> <br />RESOLUTION NO. 94-038 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA DETERMINING THAT THE FUNDING OF THE ACQUI- <br />SITION AND REHABILITATION OF THE SOUTHERN COUNTIES <br />GAS COMPANY PROPERTY AND THE GRAND CENTRAL PROPERTY, <br />LOCATED IN THE CITY OF SANTA ANA REDEVELOPMENT <br />PROJECT, ARE OF BENEFIT TO THE SANTA ANA SOUTH MAIN <br />STREET REDEVELOPMENT PROJECT, THAT NO OTHER REASON- <br />ABLE MEANS OF FINANCING ACQUISITION AND REHABILITA- <br />TION OF SUCH PROPERTIES IS AVAILABLE TO THE CITY OF <br />SANTA ANA, AND THAT THE USE OF FUNDS FROM THE SOUTH <br />MAIN STREET REDEVELOPMENT PROJECT FOR THE ACQUISI- <br />TION AND REHABILITATION OF SUCH PROPERTIES WILL <br />ASSIST IN THE ELIMINATION OF ONE OR MORE BLIGHTING <br />CONDITIONS IN THE SANTA ANA SOUTH MAIN STREET REDE- <br />VELOPMENT PROJECT <br /> <br /> WHEREAS, the Community Redevelopment Agency of the City of <br />Santa Ana (the "Agency") desires to redevelop a portion of the City <br />of Santa Ana Redevelopment Project Area (the "Central City Project <br />Area" ) into an "Artists ' Village" providing studio, gallery and <br />living space to artists working in the City of Santa Aha and <br />providing a cultural and educational resource to the residents of <br />the city; and <br /> <br /> WHEREAS, for this purpose, the Agency desires to acquire and <br />rehabilitate the property located at 207 West Second Street, <br />commonly known as the Southern Counties Gas Company building (the <br />"Gas Company Property") and the property located at 200 West Second <br />Street, commonly known as the Grand Central Building (the "Grand <br />Central Property" ) (the Gas Company Property and the Grand Central <br />Property are referred to collectively herein as the "Properties" ; <br />and <br /> <br /> WHEREAS, the Agency intends to retain title to the Properties <br />after they have been rehabilitated and to lease the Grand Central <br />Property to California State University at Fullerton for use as an <br />extension campus for its Art Department; and <br /> <br /> WHEREAS, the Gas Company Property has been vacant for several <br />years and the Grand Central Property is partially vacant, and such <br />vacancy problems are due, at least in part, to the lack of <br />available parking for, easy vehicular access to, and visibility of <br />both Properties; and <br /> <br /> WHEREAS, the Central city Project Area is immediately adjacent <br />to the Santa Ana South Main Street Redevelopment Project Area (the <br />"South Main Project Area") and the Properties are within two blocks <br />of the common boundary of the Central city Project Area and the <br /> <br /> <br />