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<br />bk:12/12/05 <br /> <br />RESOLUTION NO. 2005-121 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF SANTA ANA <br />MAKING CERTAIN FINDINGS WITH RESPECT TO THE <br />CONSIDERATION TO BE RECEIVED BY THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA <br />PURSUANT TO THE FIRST IMPLEMENTATION AGREEMENT <br />TO THE DISPOSITION AND DEVELOPMENT AGREEMENT <br />BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF <br />THE CITY OF SANTA ANA, AND THE SAINT JOSEPH BALLET <br />COMPANY, FOR THE SALE OF CERTAIN REAL PROPERTY IN <br />THE MERGED REDEVELOPMENT PROJECT AND APPROVING <br />THE SALE OF SAID REAL PROPERTY UPON THE TERMS AND <br />CONDITIONS CONTAINED IN THE FIRST IMPLEMENTATION <br />AGREEMENT <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS <br />FOLLOWS: <br /> <br />Section 1: The City Council of the City of Santa Ana hereby finds, determines and <br />declares as follows: <br /> <br />A. The Community Redevelopment Agency of the City of Santa Ana <br />(hereinafter referred to as the "Agency") is engaged in activities necessary <br />to execute and implement the Redevelopment Plan for the Merged Project <br />Area, in the area formerly known as the Central City Project. <br /> <br />B. In order to implement the Redevelopment Plan, the Agency has <br />previously agreed, subject to the approval of this Council, to lease for fifty <br />(50) years for one dollar ($1.00) certain real property in the Project Area, <br />pursuant to the terms and provisions of that certain Disposition and <br />Development Agreement (hereinafter referred to as the "Agreement") <br />between the Agency and the Saint Joseph Ballet Company, which is on file <br />in the office of the Executive Director of the Agency, in which said real <br />property, located between 18th and 19th Streets in the City of Santa Ana, <br />County of Orange (collectively "the Site") is described. The properties are <br />required to be utilized as free parking for employees and guests of the Saint <br />Josephs Ballet. <br /> <br />D. The Developer has requested, by way of a First <br />Implementation Agreement, to acquire the Site for its fair reuse value of one <br />dollar ($1.00) rather than continue to lease the Site for fifty (50) years for <br />one dollar ($1.00). <br /> <br />80A-12 <br />