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RESOLUTION NO. 96- 085 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA MAKING CERTAIN FIND- INGS WITH RESPECT TO THE CONVEYANCE OF REAL PROPERTY BY THE COMMUNITY REDEVEL- OPMENT AGENCY OF THE CITY OF SANTA ANA TO MERCY HOUSE, AND APPROVING THE TERMS AND CONDITIONS OF SAID CONVEYANCE WHEREAS, the Community Redevelopment Agency of the city of Santa Ana is engaged in activities necessary to carry out its responsibilities to increase, improve and preserve the city of Santa Ana's supply of low- and moderate-income housing; and WHEREAS, in order to carry out such responsibilities, the Agency has agreed, subject to the approval of this Council, to convey certain real property pursuant to the terms and provisions of that certain Disposition and Development Agreement between the Agency and Mercy House (the "Agreement"), which is on file in the office of the'Executive Director of the Agency, in which said real property (hereinafter referred to as the "Site") is more specifi- cally described; and WHEREAS, the Agency has prepared, and the City Council has reviewed and considered a Summary Report setting forth the cost of the Agreement to the Agency, the estimated value of the interests to be conveyed, and other matters, and has made said Summary Report available for public inspection in accordance with the California Community Redevelopment Law; and WHEREAS, pursuant to the provisions of the California Redevelopment Law, the Agency and the City Council have held a duly noticed joint public hearing on the proposed sale of the Site and the proposed Agreement; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS FOLLOWS: 1. The City Council hereby finds and determines that the con- sideration for the conveyance of the Site pursuant to the Agreement is less than the fair market value of the Site, but such lesser consideration is necessary to allow the Agency to carry out its responsibilities to increase, improve and preserve the City of Santa Ana's supply of low- and moderate-income housing. The City Council further finds that the sale of the Site to Mercy House will provide housing for low- or moderate income persons and that it is consistent with the implementation plans adopted pursuant to section 33490 of the Community Redevelopment Law.