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050 <br /> <br />Impact Report to be adequate for its use in approving the terms and <br />conditions of sale of the Site; and <br /> <br /> WHEREAS, pursuant to the provisions of the California <br />Redevelopment Law, the Agency and the City Council have held a duly <br />noticed joint public hearing on the proposed sale of the Site <br />pursuant to the Agreement; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF SANTA ANA, AS FOLLOWS: <br /> <br /> 1. The City Council has considered all terms and'conditions <br />of the proposed sale and hereby finds and determines that the sale <br />and the redevelopment of the Site pursuant to the Agreement is the <br />best interests of the City of Santa Ana and the health~safety and <br />welfare of its residents,and is in accord with the public purpose <br />and provisions of the applicable state and local laws. <br /> <br /> 2. The City Council hereby finds and determines that the <br />consideration for the sale of the Site pursuant to the Disposition <br />and Development Agreement is not less than the fair market value of <br />the Site determined in accordance with the covenants and conditions <br />governing the sale. <br /> <br /> 3. The sale of the Site by the Agency to Richard R. Bauer, <br />as trustee of the 1988 Bauer Family Trust upon the terms and <br />conditions contained in the Agreement is hereby approved. <br /> <br /> ADOPTED this <br />ATTEST: <br /> <br />17th <br /> <br />~l~r~eo fC ' thGeUYcou~ci~l / <br /> <br />day of Mar~h , 1997. <br /> <br />COUNCILMEMBERS: <br /> <br />Pulido Aye <br />Richardson Aye <br />Espinoza Aye <br />Franklin Aye <br />Lutz Aye <br />McGuigan Aye <br />Moreno Aye <br /> <br />Attorne tcher <br /> <br />2 <br /> <br /> <br />