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<br />. <br />. <br /> <br />REL :adg-9 <br />06/05/86 <br /> <br />RESOLUTION NO. 86-25 <br /> <br />I <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 MC MAHAN'S 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 />. <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 "Disposition and Development Agreement" between the <br />Agency and Urban Ventures Corporation and McMahan's Furniture <br />Associates, which is on file in the office of the Executive <br />Director of the Agency, in which said real property (hereinafter <br />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 <br />the 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 />t <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 Plan, and the purchase price, and made said sum- <br />mary Report available for public inspection in accordance with <br />the California Community Redevelopment Law; and <br /> <br />. <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; and <br />