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12/11/02 LES <br /> <br />RESOLUTION NO. 2002- 108 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE SALE OF AGENCY- <br />OWNED PROPERTY LOCATED AT 601 E. THIRD STREET, <br />826 N. LACY STREET AND 616 E. FIFTH STREET TO THE <br />CITY OF SANTA ANA; AUTHORIZING THE CITY <br />MANAGER TO EXECUTE DOCUMENTS AS NECESSARY; <br />AND MAKING CERTAIN FINDINGS WITH RESPECT <br />THERETO, ON BEHALF OF THE CITY <br /> <br /> BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS <br />FOLLOWS: <br /> <br /> Section 1. The City Council of the City of Santa Ana hereby, finds, determines <br />and declares as follows: <br /> <br />Pursuant to Sections 33334.2(a) and 33334.6(c) of the California <br />Community Redevelopment Law (California Health and Safety Code <br />Section 33000 et seq.) not less than 20 percent of all taxes which are <br />allocated to the Community Redevelopment Agency of the City of Santa <br />Ana ("Agency") are set aside by the Agency in a Low- Moderate-Income <br />Housing Fund and used by the Agency for the purpose of increasing, <br />improving and preserving the community's supply of Iow and moderate <br />housing available at affordable housing costs to persons and families of <br />Iow- and moderate-income, including very-low-income persons; and <br /> <br />The Agency has purchased a number of properties over the years for the <br />development of such Iow and moderate income housing; and <br /> <br />Califomia Community Redevelopment law (Health and Safety Code section <br />33334.16) currently restricts the length of time that an Agency can hold land <br />for future development to ten years. The abovementioned properties exceed <br />the legal time limit. <br /> <br />The Agency proposes to sell the Properties to the City of Santa Ana at <br />their current appraised values, pursuant to the terms and provisions of a <br />Purchase/Sale Agreement (hereinafter referred to as the "Agreement"), and <br /> <br />The City has duly considered all of the terms and conditions of the <br />proposed sale, and believes that the proposed sale is in the best interests <br />of the City and the health, safety, morals and welfare of its residents, and <br />in accord with the public purpose and provisions of applicable state and <br />local laws and requirements; and <br /> <br />Resolution No. 2002-108 <br /> Page 1 of 3 <br /> <br /> <br />