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<br />. <br /> <br />. <br /> <br />. <br /> <br />.IM'g ô'1?ß7 <br /> <br />RESOLUTION NO. 97-4 <br /> <br />A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF <br />SANTA ANA APPROVING AN AGREEMENT BETWEEN <br />THE AGENCY AND RICHARD R. BAUER, AS <br />TRUSTEE FOR THE 1988 BAUER FAMILY TRUST <br /> <br />WHEREAS, the Community Redevelopment Agency of the city of <br />Santa Ana (hereinafter referred to as the "Agency") is engaged in <br />activities necessary to execute and implement the Redevelopment <br />Plan for the Santa Ana South Main Street Redevelopment Project; and <br /> <br />WHEREAS, in order to implement the Redevelopment Plan, the <br />Agency proposes to sell certain real property in the Project Area, <br />pursuant to the terms and provisions of that certain "Disposition <br />and Development Agreement" (hereinafter referred to as the <br />"Agreement") between the Agency and Richard R. Bauer as trustee of <br />the 1988 Bauer Family Trust which is on file in the office of the <br />Executive Director of the Agency, in which said real property <br />(hereinafter referred to as the "Site") is described; and <br /> <br />WHEREAS, Richard R. Bauer has submitted to the Agency a <br />written offer to purchase the site in the form of the Agreement; <br />and <br /> <br />WHEREAS, the Agreement contains all of the provisions, terms, <br />conditions and obligations required by state and local law; and <br /> <br />WHEREAS, Richard R. Bauer possesses the qualifications and <br />financial resources necessary to acquire and insure development of <br />the Site, in accordance with the purposes and objectives of the <br />Redevelopment Plan; and <br /> <br />WHEREAS, the Agency has prepared, a Summary Report setting <br />forth the cost of the Agreement to the Agency, the estimated value <br />of the interests to be conveyed determined at the highest uses <br />permitted under the Redevelopment Plan, and the purchase price, and <br />made said Summary Report and the Agreement available for public <br />inspection and copying in accordance with the California Community <br />Redevelopment Law; and <br /> <br />WHEREAS, pursuant to the provisions of the California <br />Redevelopment Law, the Agency and the>~ity Council have held a duly <br />noticed joint public hearing on the proposed sale of the site <br />pursuant to tne Agreement. <br /> <br />WHEREAS, the Community Redevelopment Agency of the City of <br />Santa Ana has prepared, reviewed and considered an Initial Study of <br /> <br />1 <br />