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<br />.- <br /> <br />,... <br /> <br />... . .... . <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />RESOULTION NO. 78-17 <br />PAGE TWO <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: <br /> <br />1. The Agency hereby finds and determines that the <br />consideration for the sale of the Site pursuant to the Participation <br />Agreement between the Agency and Heritage Development Company <br />is not less than the fair market value of the Site in accordance <br />with the covenants and conditions governing the sale. <br /> <br />2. The Agency hereby finds and determines that the <br />consideration for sale of the Site pursuant to the Agreement is <br />necessary to effectuate the purposes of the Redevelopment Plan. <br /> <br />3, The sale of the Site by the Agency to Heritage Develop- <br />ment Company and the Participation Agreement which establishes <br />the terms and conditions for the sale and development of the Site, <br />are hereby approved. <br /> <br />4, The Executive Director of the Agency is hereby <br />authorized to execute the Participation Agreement, <br /> <br />5, The Executive Director is hereby authorized to take <br />all steps, and to sign all documents and instruments (including <br />but not limited to the Grant Deed), necessary to implement and <br />carry out the Agreement on behalf of the Agency, <br /> <br />ADOPTED this <br />by the following vote: <br /> <br />,1978, <br /> <br />day of <br /> <br />March <br /> <br />28th <br /> <br />AYES: MEMBERS: Brandt, Bricken, Evans, Garthe, <br /> Ortiz, Ward <br />NOES: MEMBERS: Yamamoto <br />ABSENT: MEMBERS: None <br /> <br />ATTEST: <br /> <br /> <br />d <br />.~~ / . // <br />7(~ <br />RICHARD E. GOBLI SCH <br />Executive Director! <br />Recording Secretary <br /> <br />~.. ;-; £Xr?(1.ð/Y1...4)ç <br />CHAIRMAN <br /> <br />z~~ <br /> <br />KEITH L. OW, Agen y <br />Legal Counsel <br /> <br />,~ <br /> <br />2 <br />