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. . . REL:adg l2/13/84 RESOLUTION NO. 84-24 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING A LEASE, OPTION AND DEVELOPMENT AGREEMENT (PARCELS 1 and 2) BETWEEN THE AGENCY AND JOHN R. WARD AND M. V. DUFFY JAMES WHEREAS, the Community Redevelopment Agency of the City of Santa Ana is engaged in activities necessary to execute and implement,the Redevelopment Plan for the Santa Ana South Main Street Redevelopment project; and WHEREAS, in order to implement the Redevelopment Plan, the Agency proposes to lease and/or sell certain real property in the project Area, pursuant to the terms and provisions of that certain "Lease, Option and Development Agreement (Parcels land 2)" between the Agency and John R. Ward and M. V. Duffy James, which is on file in the office of the Executive Director of the Agency, in which said real property (hereinafter referred to as the "Site") is described; and WHEREAS, John R. Ward and M. V. Duffy James have sub- mitted to the Agency a written offer in the form of said Agreement to purchase the Site; and WHEREAS, the proposed Agreement contains all the pro- visions, terms, conditions and obligations required by state and local law; and WHEREAS, John R. Ward and M. V. Duffy James possess the qualifications and financial resources necessary to acquire and insure development of the Site, in accordance with the purposes and objectives of the Redevelopment PIan; and WHEREAS, the Agency has prepared, reviewed and considered a Summary Report setting forth the cost of the Agreement to the Agency, the estimated value of the interests to be conveyed deter- mined at the highest uses permitted under the Redevelopment Plan, and the purchase price and sum of the lease payments, and made said summary Report available for public inspection in accordance with the California Redevelopment Law; and 2B !J8