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<br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 98- 1 <br /> <br />A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF <br />SANTA ANA APPROVING AN AGREEMENT <br />BETWEEN THE AGENCY AND ACD HOLDINGS, <br />LLC, FOR THE SALE AND DEVELOPMENT OF <br />CERATIN PROPERTY IN THE SOUTH MAIN STREET <br />REDEVELOPMENT PROJECT AREA. <br /> <br />WHEREAS, the Community Redevelopment Agency of the City of Santa Ana (the <br />"Agency") is engaged in activities necessary to execute and implement the Redevelopment Plan for <br />the Santa Ana South Main Street Redevelopment Project (the "Project Area"); and <br /> <br />WHEREAS, in order to implement the Redevelopment Plan, the Agenéy.proposes to sell <br />certain real property in the Project Area, pursuant to the terms and provisions òf that certain <br />"Disposition and Development Agreement" (hereinafter referred to as the "Agreement") between <br />the Agency and ACD Holdings, LLC (the "Developer"), which is- on me in the office of the <br />Executive Director of the Agency, in which said real property (hereinafter referred to as the "Site") <br />is described; and <br /> <br />WHEREAS, the Developer has submitted to the Agency a written offer to purchase the Site <br />in the form of the Agreement; and <br /> <br />WHEREAS, the Agreement contains all of the provisions, terms, conditions and obligations <br />required by state and local law; and , <br /> <br />WHEREAS, the Agency has prepared, a summary report setting forth the cost of the <br />Agreement to the Agency, the estimated value of the interests to be conveyed determined at the <br />highest uses permitted under the Redevelopment Plan, and the purchase price (the "Summary <br />Report"), and made said Summary Report and the Agreement available for public inspection and <br />copying in accordance with the California Community Redevelopment Law; and <br /> <br />WHEREAS, pursuant to the provisions of the California Redevelopment Law, the Agency <br />and the City Council have held a duly noticed joint public hearing on the proposed sale of the Site <br />pursuant to the Agreement. <br /> <br />WHEREAS, the Agency has prepared, reviewed and considered the Negative Declaration <br />evauating the environmental impacts of the proposed agreement. <br /> <br />1 <br />