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"'.' . . . l' REL:adg 5/1/84 RESOLUTION NO. 84-11 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING AN AGREEMENT BETWEEN THE AGENCY AND SANTA ANA VENTURE WHEREAS, the Community Redevelopment Agency of the City of Santa Ana ("Agencyn) is engaged in activities necessary to execute and implement the Redevelopment Plan for the Santa Ana Redevelopment Project; and WHEREAS, in order to implement the Redevelopment Plan, the Agency proposes to sell certain real property in the Project area, pursuant to the terms and provisions of that certain "Participation Agreementn between the Agency and Santa Ana Venture, which is on file in the office of the Execu- tive Director of the Agency, in which said real property (hereinafter referred to as the nSite") is described; and WHEREAS, Santa Ana Venture has submitted to the Agency a written offer in the form of said Agreement to purchase the Site; and WHEREAS, the proposed Agreement contains all the provisions, terms, conditions and obligations required by state and local laws; and WHEREAS, Santa Ana Venture possesses the qualifications and financial resources necessary to acquire and insure develop- ment of the Site, in accordance with the purposes and objectives of the Redevelopment Plan; and WHEREAS, the Agency has prepared, reviewed and con- sidered a Summary Report setting forth the cost of the Agreement to the Agency, the estimated value of the interests to be con- veyed determined at the highest uses permitted under the Redevelopment Plan, and the purchase price, and made said Summary Report available for public inspection in accordance with the California Community Redevelopment Law; and WHEREAS, pursuant to the provisions of the California Redevelopment Law, the Agency and the City Council have held a duly noticed joint public hearing on the proposed sale of the Site and the proposed Agreement; and 'd.O 2A