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<br />. If:"". . <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />1 <br /> <br />REL:adg-9 <br />11/12/85 <br /> <br />RESOLUTION NO. 85-51 <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA APPROVING <br />AN AGREEMENT BETWEEN THE AGENCY AND URBAN <br />VENTURES CORPORATION AND McMAHONS FURNITURE <br />ASSOCIATES <br /> <br />WHEREAS, the Community Redevelopment Agency of the <br />City of Santa Ana is engaged in activities necessary to ex- <br />ecute and implement the Redevelopment Plan for the Santa Ana <br />Redevelopment project¡ and <br /> <br />WHEREAS, in order to implement the Redevelopment <br />Plans, the Agency proposes to sell certain real property in <br />the project Area, pursuant to the terms and provisions of that <br />certain "Disposi t ion and Development Agreement II be tween the <br />Agency and Urban Ventures Corporation and McMahons Furniture <br />Associates, which is on file in the office of the Executive <br />Director of the Agency, in which said real property <br />(hereinafter referred to as the "Site") is described¡ and <br /> <br />WHEREAS, Urban Ventures Corporation has submitted to <br />the Agency a written offer in the form of said Agreement to <br />purchase the Site¡ and <br /> <br />WHEREAS, the proposed Agreement contains all the <br />provisions, terms, conditions and obligations required by state <br />and local law¡ and <br /> <br />WHEREAS, Urban Ventures Corporation possesses the <br />qualifications and financial resources necessary to acquire <br />and insure development of the Site, in accordance with the <br />purposes and objectives of the Redevelopment Plan; and <br /> <br />WHEREAS, the Agency has prepared, reviewed and con- <br />sidered a Summary Report setting forth the cost of the Agreement <br />to the Agency, the estimated value of the interests to be con- <br />veyed determined at the highest uses permitted under the Re- <br />development Plans, and the purchase price, and made said sum- <br />mary Reports available for public inspection in accordance with <br />the California Community Redevelopment Law¡ and <br /> <br />WHEREAS, pursuant to the provisions of the California <br />Redevelopment Law, the Agency and the City Council have held a <br />duly noticed joint public hearing on the proposed sale of the <br />Site and the proposed agreement¡ <br />