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. . . RESOLUTION NO. 98-14 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING A TERMINATION AGREEMENT WITH MACARTHUR PARTNERS AND BRE PROPERTIES TERMINATING THE DISPOSITION AND DEVELOPMENT AGREEMENT FOR A PORTION OF THE MACARTHUR PLACE PROJECT. WHEREAS, the Community Redevelopment Agency of the City of Santa Ana (hereinafter referred to as the "Agency") is engaged in activities necessary to execute and implement the Redevelopment Plan for the South Main Redevelopment Project Area (the, "Project Area"); and, WHEREAS, on or about April 20, 1988 the Agency entered into a certain Disposition and Development Agreement regarding a I 66 acre portion of the Project Area commonly known as MacArthur Place (the "DDA"); and, WHEREAS, WHEREAS, BRE Properties, Inc. a Maryland corporation as a potential buyer ("BRE") , of a I 12 acre portion of the Project(the "Site"), and MacArthur Partners, a California limited partnership as owner ("MacArthur Partners") as successor in interest to the original owner of the Project, have requested that the Agency enter into that certain Termination Agreement, on file with the Secretary of the Agency, whereby the parties seek to terminate the DDA as to the Site, which request the Agency is willing to honor. NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: 1. The Termination Agreement, on file with the Secretary of the Agency, is hereby approved, and the Chairman of the Agency is hereby authorized and directed to execute said agreement on behalf of the Agency, with such non-substantive changes as may be recommended by Agency Counsel. ADOPTED this day of An¡¡nRt , 1998. 17th AYES: MEMBERS: Franklin, Lutz, McGuigan, Pulido NOES: MEMBERS: None ABSENT : MEMBERS Espinoza, !lorena, Richardson ~ irman " ...