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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 90-5 <br /> <br />REL:mb(23) <br />4/4/90 <br /> <br />A RESOLUTION OF THE COMMUNITY RE- <br />DEVELOPMENT AGENCY OF THE CITY OF <br />SANTA ANA APPROVING AN AGREEMENT <br />BETWEEN THE AGENCY AND DAVID MICHAEL <br />SHEPARD <br /> <br />WHEREAS, the Community Redevelopment Agency of the <br />City of Santa Ana (hereinafter referred to as the "Agency") is <br />engaged in activities necessary to execute and implement the <br />Redevelopment Plan for the Santa Ana South Main Street Redevelop- <br />ment Project; and <br /> <br />WHEREAS, in order to implement the Redevelopment <br />Plan, the Agency proposes to sell certain real property in the <br />Project Area, pursuant to the terms and provisions of that <br />certain "Disposition and Redevelopment Agreement" (hereinafter <br />referred to as the "Agreement") between the Agency and David <br />Michael Shepard, 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, David Michael Shepard has submitted to the <br />Agency a written offer to purchase the site in the form of the <br />Agreement; and <br /> <br />WHEREAS, the Agreement contains all the provisions, <br />terms, conditions and obligations required by state and local <br />law; and <br /> <br />WHEREAS, David Michael Shepard possesses the <br />qualifications and financial resources necessary to acquire and <br />insure development of the Site, in accordance with the purposes <br />and objectives of the Redevelopment Plan; and <br /> <br />WHEREAS, the Agency has prepared, a Summary Report <br />setting forth the cost of the Agreement to the Agency, the <br />estimated value of the interests to be conveyed determined at <br />the highest uses permitted under the Redevelopment Plan, and <br />the purchase price, and made said Summary Report and the <br />Agreement available for public inspection and copying in <br />accordance with 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 pursuant to the Agreement; <br />