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, . . REL: 10/14/91 RESOLUTION NO. 9l-10 A RESOLUTION OF THE COMMUNITY REDEVE- LOPMENT AGENCY OF THE CITY OF SANTA ANA, APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY REDE- VELOPMENT AGENCY OF THE CITY OF SANTA ANA AND HISTORIC FRENCH PARK ASSOCIA- TION, INC.; MAKING CERTAIN FINDINGS WITH RESPECT TO THE CONSIDERATION TO BE RE- CEIVED BY THE AGENCY PURSUANT TO SAID AGREEMENT; AND AUTHORIZING THE EXECUTION AND IMPLEMENTATION OF SAID DISPOSITION AND DEVELOPMENT AGREEMENT WHEREAS, the Community Redevelopment Agency of the city of Santa Ana (the "Agency") is engaged in activities necessary to develop low and moderate income housing in the City of Santa Ana pursuant to the Community Redevelopment Law; and WHEREAS, in implementation of the Agency's low and moderate income housing program, the Agency proposes to sell certain real property located in the City of Santa Ana (the "Site") pursuant to the terms and provisions of a proposed Disposition and Development Agreement (the "DDA") to be entered into with Historic French Park Association, Inc. (the "Developer"); and WHEREAS, the DDA provides for the development of dwelling units affordable to and restricted to occupancy by moderate income households; and WHEREAS, the Developer has submitted to the Agency a written offer in the form of said DDA as submitted to purchase the the Site; and WHEREAS, the proposed DDA contains all the provisions, terms and conditions, and obligations required by State and local law; and WHEREAS, the Developer possesses the qualifications and financial resources necessary to acquire and insure the development of the site in accordance with the purposes and objectives of the Redevelopment Plan; and 1