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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />"-'I <br /> <br />RESOLUTION NO. 81-5 <br />PAGE TWO <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: <br /> <br />1. The Agency has considered all terms and <br />conditions of the proposed sale and hereby finds and <br />determines that the redevelopment 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 />Historic Restoration is less than the fair market value of <br />the 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 />3. The sale of the Site by the Agency to <br />Historic Restoration and the Disposition and Development <br />Agreement which establishes the terms and conditions for the <br />sale and 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 17th day of February <br />by the following vote: <br /> <br />,1981, <br /> <br />AYES: <br /> <br />MEMBERS: Griset, Ward, Bricken,Serrato, <br />Luxembourger, Yamamoto <br />MEMBERS: Markel <br /> <br />NOES: <br /> <br />ABSENT: <br /> <br />MEMBERS: None <br /> <br /> <br />~.' - -- ,.-- L~~ <br />HAIRMAN <br /> <br />APPROVED AS TO FORM: <br /> <br /> <br />/0 <br /> <br />IA <br />