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<br />3/9/04LS <br /> <br />. <br /> <br />RESOLUTION NO. CRA 2004-05 <br /> <br />A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA <br />ANA APPROVING THE PURCHASE OF CITY-OWNED <br />PROPERTY LOCATED AT 435-437 S. BIRCH STREET <br />AND AUTHORIZING THE EXECUTIVE DIRECTOR TO <br />EXECUTE DOCUMENTS AS NECESSARY <br /> <br />BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY <br />OF SANTA ANA AS FOLLOWS: <br /> <br />Section 1. The Community Redevelopment Agency of the City of Santa Ana <br />hereby, finds, determines and declares as follows: <br /> <br />. <br /> <br />A. The City Council of the City of Santa Ana previously approved the purchase <br />of property <br />located at 435-437 S. Birch Street (the "Property") using federal HOME funds by <br />council action on October 7, 1997. This acquisition was made in order to <br />remove a substandard apartment building and to pursue quality in-fill housing <br />development for the Heninger Park neighborhood. The Property is not located <br />within a redevelopment project area. <br /> <br />B. Santa Ana Municipal Code section 2-709 permits the sale of city real property <br />made to <br />any city, county, city and county, state or federal government, or any political <br />subdivision of any of them, or to any nonprofit public benefit corporation formed <br />or controlled by the city without a public hearing. <br /> <br />C. Upon extensive review, the Community Redevelopment Agency of the City of <br />Santa Ana ("Agency") staff has determined that the affordable homeownership <br />subsidies offered by the Agency are most appropriate to support the City's <br />objectives in Heninger Park. For this reason, staff supports the City of Santa <br />Ana's sale of 435-437 S. Birch Street to the Agency for $411,000, which <br />represents the original acquisition cost. <br /> <br />. <br /> <br />D. Pursuant to Sections 33334.2(a) and 33334.6(c) of the California Community <br />Redevelopment Law (California Health and Safety Code Section 33000 m §gg.) <br />not less than 20 percent of all taxes which are allocated to the Agency are set <br />aside by the Agency in a Low- Moderate-Income Housing Fund ("the Housing <br />Funds") and used by the Agency for the purpose of increasing, improving and <br />preserving the community's supply of low and moderate housing available at <br />affordable housing costs to persons and families of low- and moderate-income, <br />including very-low-income persons. <br /> <br />Resolution No. CRA 2004-05 <br />Page 1 of 3 <br />