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<br />. <br /> <br />. <br /> <br />. <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF SANTA ANA DOES <br />HEREBY RESOLVE AS FOLLOWS: <br /> <br />1. It is hereby determined that: <br /> <br />(a) <br /> <br />The acquisition and rehabilitation of the properties will <br />be of benefit to the South Main Project Area; <br /> <br />(b) <br /> <br />No other reasonable means of financing the acquisition <br />and rehabilitation of the properties is available to the <br />community; and <br /> <br />(c) <br /> <br />The use of funds from the South Main Project Area to pay <br />the cost of acquisition and rehabilitation of the <br />properties will assist in the elimination of one or more <br />blighting conditions inside the South Main Project Area <br /> <br />2 . The Agency hereby consents and approves the Agency's <br />expenditure of up to the following sums from the funds of the South <br />Main Project Area for the acquisition and rehabilitation of the <br />Properties: <br /> <br />Gas Comuanv Prouertv <br /> <br />Acquisition: <br />Rehabilitation: <br /> <br />up to $300,000.00 <br />up to $500,000.00 <br /> <br />Grand Central Prouertv <br /> <br />Acquisition: <br />Rehabilitation <br /> <br />up to $1,500,000.00 <br />up to $2,000,000.00 <br /> <br />3 <br />