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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />RESOLUTION NO. 79-4 <br />PAGE TWO <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOP- <br />MENT AGENCY FO THE CITY OF SANTA ANA, AS FOLLOWS: <br /> <br />1. The Agency hereby finds and determines that the con- <br />sideration for the sale of the Site pursuant to the Participation <br />Agreement between the Agency and American National Properties, Inc. <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 con- <br />sideration 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 American National <br />Properties, Inc. 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 author- <br />ized 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 but <br />not limited to the Grant Deed), necessary to implement and carry <br />out the Agreement on behalf of the Agency. <br /> <br />ADOPTED this 15th day of <br />the following vote: <br /> <br />January <br /> <br />, 1979, by <br /> <br />AYES: <br /> <br />MEMBERS: Brandt, Bricken, Evans, Garthe, Ortiz, <br />Yamamoto <br />MEMBERS: Ward <br /> <br />NOES: <br /> <br />ABSENT: <br /> <br />MEMBERS: None <br /> <br />ATTEST: <br /> <br />Qû~ <br />CHAI <br /> <br />~~ <br /> <br />RICHARD E. GOBLIRSCH <br />Executive Director/ <br />Recording Secretary <br /> <br />~í~ ;?; <br /> <br /> <br />KEITH L. GOW, ~ncy <br />Legal Counsel <br /> <br />Z 0(:, <br />