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, I 8 t"'.. >,. REL : adg 9/18/85 RESOLUTION NO. 85-42 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING AN AGREEMENT BETWEEN THE AGENCY AND MORTIMER STREET PARTNERS WHEREAS, Section 33449 of the Community Redevelop- ment Law authorizes redevelopment agencies to acquire and dis- pose of land in order to provide housing for persons and families of low or moderate income, whether such land is located inside or outside of a redevelopment project area¡ and WHEREAS, in order to obtain the development of such housing, the Agency proposes to sell certain real property in the City of Santa Ana to Mortimer Street Partners pursuant to the terms and conditions of that certain "Participation Agree- ment" between the Agency and Mortimer Street Partners, which is a public record on file in the offices of the Aqency and in which said real property is described¡ and WHEREAS, the City of Santa Ana, as lead agency under the California Environmental Qualtiy Act, has prepared and approved a negative declaration pursuant to the said Act for the housing project which is the subject of the said Partic- ipation Agreement in conjunction with the amendment of zoning designations applicable to the subject property¡ NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS: 1. The Agency finds and determines that the sale and de- velopment of the subject property pursuant to the Participation Agreement will provide housing for persons of low and moderate income, 2. The Agency has reviewed the negative declaration pre- pared for the subject project and determines that it is adequate for the Agency's use. 3. The Participation Agreement between the Agency and Mortimer Street Partners is approved and the Chairman is author- ized to execute the said agreement and the grant deed and decla- ration of restrictions pertaining thereto. 6"ð 3A