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<br />. <br /> <br />. <br /> <br />. <br /> <br />3/9/04Ies <br /> <br />RESOLUTION NO. CRA 2004-02 <br /> <br />A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA <br />ANA APPROVING THE SALE OF AGENCY-OWNED <br />PROPERTY LOCATED AT 807 E. SANTA ANA <br />BOULEVARD; AUTHORIZING THE EXECUTIVE <br />DIRECTOR TO EXECUTE DOCUMENTS AS NECESSARY <br /> <br />BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br />CITY OF SANTA ANA, AS FOLLOWS: <br /> <br />Section 1: The Board of the Community Redevelopment Agency of the City of <br />Santa Ana hereby finds, determines and declares as follows: <br /> <br />A. Pursuant to Sections 33334.2(a) and 33334.6(c) of the California Community <br />Redevelopment Law (California Health and Safety Code Section 33000 at æq.) <br />not less than 20 percent of all taxes which are allocated to the Community <br />Redevelopment Agency of the City of Santa Ana ("Agency") are set aside by the <br />Agency in a Low- Moderate-Income Housing Fund and used by the Agency for <br />the purpose of increasing, improving and preserving the community's supply of <br />low and moderate housing available at affordable housing costs to persons and <br />families of low- and moderate-income, including very-low-income persons <br />("Agency's Housing Set-Aside Account"). <br /> <br />B. The Agency has purchased a number of properties over the years for the <br />development of such low and moderate income housing. <br /> <br />C. California Community Redevelopment law (Health and Safety Code section <br />33334.16) currently restricts the length of time that an Agency can hold land for <br />future development to ten years. The Agency-owned property located at 807 E. <br />Santa Ana Boulevard (the "Property") shall soon exceed the legal time limit. <br /> <br />D. Pursuant to Health and Safety Code section 33442, an agency may sell, lease, <br />grant, or donate real property owned or acquired by the agency to a housing <br />authority or to any public agency for public housing projects. <br /> <br />E. The Agency has agreed, subject to the approval of the Santa Ana Housing <br />Authority ("Housing Authority"), to sell said real property at its current appraised <br />value, pursuant to the terms and provisions of a Purchase and Sale Agreement <br />(hereinafter referred to as the "Agreement") between the Agency and the Housing <br />Authority, which is on file in the office of the Executive Director of the Agency. <br /> <br />Resolution No. CRA 2004-02 <br />Page 1013 <br />