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<br />~ <br /> <br />RESOLUTION NO. 81-44 <br />PAGE TWO <br /> <br />. <br /> <br />1. The Agency has considered all terms and <br />conditions of the proposed sale and hereby finds and <br />determines that the rehabilitation of the Property pursuant <br />to the proposed Agreement is in the best interests of the <br />City and the health, safety, morals and welfare of its <br />residents, and is in accord with the public purposes and <br />provisions of the applicable state and local laws. <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 />Harold Nemetz is less than the fair market value of the <br />Site, determined at the highest use permitted under the <br />Redevelopment plan, but that such lesser consideration is <br />necessary to effectuate the purposes of the Redevelopment <br />Plan. <br /> <br />. <br /> <br />3. The sale of the Site by the Agency to Harold <br />Nemetz and the Disposition and Development Agreement which <br />establishes the terms and conditions for the sale and <br />development of the Site, are 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 l2th-day of <br />by the following vote: <br /> <br />June <br /> <br />,1981, <br /> <br />AYES: <br /> <br />MEMBERS: Griset, Serrato, Acosta <br />Luxembourger, McGuigan <br />MEMBERS: Markel <br /> <br />NOES: <br /> <br />ABSENT: <br /> <br />MEMBERS: Bricken <br /> <br />8 <br /> <br />ATTEST: <br /> <br /> <br />~ <br /> <br />EXECUTIVE DIRECTOR/ <br />RECORDING SECRETARY <br /> <br />~~.¿ <br />~CHAI -" <br /> <br />APPROVED AS TO FORM: <br /> <br />~--t ~ ~r- <br />EDWARD J. C PER <br />AGENCY LEGAL COUNSEL <br />? fr? 4--( é, ~ <br />~mJ/-.f t'--5 r¥'~ <br /> <br />. <br />