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<br />. <br /> <br />I.. <br /> <br />RESOLUTION NO. 79-55 <br />PAGE TWO <br /> <br />. <br /> <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: <br /> <br />l. The Agency has considered all terms and <br />conditions of the proposed sale and hereby finds and <br />determines that the redevelopment of the Site pursuant to <br />the proposed Agreement is in the best interests of the City <br />and the health, safety, morals and welfare of its residents, <br />and is in accord with the public purposes and provisions of <br />the applicable state and local laws. <br /> <br />. <br /> <br />2. The Agency hereby finds and determines that <br />the consideration for the sale of the Site pursuant to the <br />Disposition and Development Agreement between the Agency and <br />Ross and Fifth Development Company is less than the fair <br />market value of the Site, determined at the highest use <br />permitted under the Redevelopment Plan, but that such lesser <br />consideration is necessary to effectuate the purposes of the <br />Redevelopment Plan. <br /> <br />3. The sale of the Site by the Agency to Ross <br />and Fifth Development Company and the Disposition and <br />Development Agreement which establishes the terms and <br />conditions for the sale and development of the Site, are <br />hereby approved. <br /> <br />4. The Chairman of the Agency is hereby <br />authorized to execute the Disposition and Development <br />Agreement and Grant Deeds pertaining thereto. <br /> <br />5. The Executive Director is hereby authorized <br />to take all steps, and to sign all documents and instruments <br />necessary to implement and carry out said Agreement on <br />behalf of the Agency. <br /> <br />ADOPTED this l7th day of <br />December, 1979, by the following vote: <br /> <br />AYES: <br /> <br />MEMBERS Bricken, Griset, Luxembourger, Serrato, <br />Ward, Yamamoto <br />MEMBERS Markel <br /> <br />NOES: <br /> <br />ABSENT: <br /> <br />MEMBERS: None <br /> <br />. <br /> <br />ATTEST: <br /> <br />7~~ <br /> <br />RICHARD E. GOBLIRSCH <br />Executive Director/ <br />Recording Secretary <br /> <br />cr <br /> <br />-- ~ IAJ~ <br /> <br />CHAIRMAN <br /> <br />APPROVED AS TO FORM: <br /> <br />¿i! ç¡ <br /> <br /> <br />Agency Legal Counsel <br /> <br />. <br /> <br />:3'+ <br /> <br />6A <br />