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The City has this day, by resolution, found and determined that the <br />mitigated negative declaration and mitigation monitoring plan prepared for <br />the project is adequate for approval of the Agreement. <br /> <br />Pursuant to the provisions of the California Redevelopment Law, the <br />Agency and the City Council have held a duly noticed joint public hearing <br />on the proposed sale of the Site pursuant to the Agreement. <br /> <br /> Section 2. The City Council has considered all terms and conditions of the <br />proposed sale and hereby finds and determines that the sale and the redevelopment of <br />the Site pursuant to the Agreement is the best interests of the City of Santa Ana and the <br />health, safety and welfare of its residents, and is in accord with the public purpose and <br />provisions of the applicable state and local laws. <br /> <br /> Section 3. The City Council hereby finds and determines that the consideration <br />for the sale of the Site pursuant to the Disposition and Development Agreement is not <br />less than the fair market value of the Site determined in accordance with the covenants <br />and conditions governing the sale. <br /> <br /> Section 4. The sale of the Site by the Agency to Santa Ana Artist Village, LLC <br />upon the terms and conditions contained in the Agreement is hereby approved. <br /> <br /> Section 5. <br />this Resolution. <br /> <br />The Clerk of the Council shall attest to and certify the vote adopting <br /> <br />ADOPTED this 19~h day of November, 2001.~--~,,~ ,--,_.--_ ~ <br /> <br />A~ TO FORM: <br /> <br /> i~.~/Ass~ City Attorney <br /> <br />Resolution No. 2001-085 <br />Page 2 of 3 <br /> <br /> <br />