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. . . . RESOLUTION NO. 79-45 PAGE TWO WHEREAS, the Agency has considered all terms and condi- tions of the proposed sale and believes that the redevelopment of the Site pursuant to the proposed First Amendment to Participation Agreement is in the best interests of the City and the health, safety; morals and welfare of its residents, and is in accord with the public purposes and provisions of the applicable state and local laws. NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVEL- OPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: 1. The Agency hereby finds and determines that the consideration for the sale of the Site pursuant to the First Amend- ment to Participation Agreement between the Agency and Steven J. Keiser and Paula B. Keiser is not less than the fair market value of the Site in accordance with the covenants and conditions gov- erning the sale. 2. The Agency hereby finds and determines that the consideration for sale of the Site pursuant to said Agreement is necessary to effectuate the purposes of the Redevelopment Plan. 3. The sale of the Site by the Agency to Steven J. Keiser and Paula B. Keiser and the First Amendment to participa- tion Agreement which establishes the terms and conditions for the sale and development of the Site, are hereby approved. 4. The Chairman of the Agency is hereby authorized to execute the First Amendment to participation Agreement and grant deeds pertaining thereto. 5. The Executive Director is hereby authorized to take all steps, and to sign all documents and instruments necessary to implement and carry out the Agreement on behalf of the Agency. ADOPTED this 17th day of the following vote: ----- September ,1979, by AYES: MEMBERS: Bricken, Griset, Luxembourger, Serrato, Ward, Yamamoto, Markel (pursuant to Sec. 6, Art. 3) MEMBERS: NOES: ABSENT: MEMBERS: ATTEST: ~IRM~ ~ R~~ Executive Director/ Recording Secretary APPROVED AS TO FORM: dç:; KEITH L. GOW Agency Legal Counsel ~1 113 ./