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<br />. <br /> <br />RESOLUTION NO. 98-8 <br /> <br />A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY <br />OF SANTA ANA APPROVING A DISPOSITION <br />AND DEVELOPMENT AGREEMENT <br />BETWEEN THE AGENCY AND THE SAINT <br />JOSEPH BALLET COMPANY. <br /> <br />WHEREAS, the Community Redevelopment Agency of the City of Santa Ana <br />(hereinafterreferred to as the "Agency") is engaged in activities necessary to execute and <br />implement the Redevelopment Plan for the Central City RedevelopmentProjectArea (the <br />Redevelopment Plan"); and, <br /> <br />WHEREAS, in furtherance of the Redevelopment Plan the Agency proposes to <br />convey said certain property in the Project Area pursuant to the terms and provisions of that <br />certain "Disposition and Development Agreement" (the "Agreement") between the Agency <br />and The Saint Joseph Ballet Company (the "Developer") which is on file in the office of the <br />Executive Director of the Agency, in which said real property (the "Site") is described; and <br /> <br />8 <br /> <br />WHEREAS, the Developer bas submitted to the Agency a written offer to purchase <br />the Site in the form of the Agreement; and <br /> <br />WHEREAS, the Agreement contains all of the provisions, terms, conditions and <br />obligations required by state and local law; and <br /> <br />WHEREAS, the Developer represents that it possesses the qualifications and <br />financial resources necessary to acquire and insure development of the Site, in accordance <br />with the purposes and objectives of the Redevelopment Plan; and <br /> <br />WHEREAS, the Agency bas prepared, a Summary Report setting forth the cost of <br />the Agreement to the Agency, the estimated value of the interests to be conveyed <br />determined at the highest uses permitted under the Redevelopment Plan, and the purchase <br />price, and made said Summary Report and the Agreement available for public inspection <br />and copying in accordance with the California Community Redevelopment Law; and, <br /> <br />WHEREAS, pursuant to the provisions of the California Redevelopment Law, the <br />Agency and the City Council have held a duly noticed joint public hearing on the proposed <br />sale of the Site pursuantto the Agreement; and <br /> <br />WHEREAS, the Agency bas reviewed and considered the environmental impact <br />report prepared by the City of Santa Ana for the of the proposed Agreement and found that <br />it is adequate for the Agreement. <br /> <br />. <br />