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<br />. <br /> <br />. <br /> <br />. <br /> <br />in the City of Santa Ana (each one referred to as a "Parcel" and <br />referred to collectively as the "Parcels") which are appropriate <br />for the development of single-family housing which may be counted <br />towards the City's Replacement Housing obligation; and <br /> <br />WHEREAS, Developer and Agency wish to cooperate in a program <br />which will result in the development of Replacement Housing units <br />on the Parcels (the "Replacement Housing Program"); and <br /> <br />WHEREAS, the Agency has prepared a proposed Memorandum of <br />Understanding and Predevelopment Loan Agreement (the "MOU"), <br />providing for a process by which the Agency and Developer will <br />negotiate one or more agreements (the "Implementation Agreements") <br />relating to the financing, acquisition, construction, rental and/or <br />sale of Replacement Housing units on the Parcels, which Agreements <br />will comply with the applicable HUD Regulations relating to <br />Replacement Housing, and which will be subject to the approval of <br />the Agency Board and city council following publication of notice <br />and a public hearing; and <br /> <br />WHEREAS, the MOU further provides that to facilitate the <br />negotiation of Implementation Agreements, the Agency Executive <br />Director shall be authorized to make predevelopment loans to <br />Developer for the preparation of plans and other predevelopment <br />activities necessary for the construction of Replacement Housin~ <br />units; and <br /> <br />WHEREAS, copies of the proposed MOU in substantially final <br />form have been presented to this Agency; and <br /> <br />WHEREAS, the negotiation of Implementation Agreements and <br />preparation of plans pursuant to the MOU are activities that are <br />statutorily exempt from the California Environmental Quality Act <br />(CEQA Guidelines § 15262); and <br /> <br />WHEREAS, the Agency has duly considered all of the terms and <br />conditions of the proposed MOU, and believes that the proposed MOU <br />is in the best interests of the city and the health, safety, morals <br />and welfare of its residents, and in accord with the public <br />purposes and provisions of applicable State and local laws and <br />requirements. <br /> <br />NOW, THEREFORE, BE IT RESOLVED by the Community Redevelopment <br />Agency of the city of Santa Ana as follows: <br /> <br />SECTION 1. The Agency recognizes that is has received and <br />heard all oral and written objections to the proposed MOU and to <br />other matters pertaining to this transaction, and that all such <br />oral and written objections are hereby overruled. <br /> <br />-2- <br />