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<br />E. The First Implementation Agreement, a true and correct copy of <br />which is on file with the Secretary, contains all of the provisions, terms, <br />conditions and obligations required by the state and local laws. <br /> <br />F. Pursuant to Environmental Review No. 97-116a, a categorical <br />exemption has been issued in compliance with the California Environmental <br />Quality Act. <br /> <br />G. Pursuant to the provisions of the California Redevelopment Law, the <br />Agency and the City Council have held a duly noticed joint public hearing on <br />the proposed sale of the Site pursuant to the Agreement. <br /> <br />Section 2. The City Council has considered all terms and conditions of the <br />proposed sale and hereby finds and determines that the sale and the redevelopment of <br />the Site as provided for in the First Implementation Agreement is the best interests of the <br />City of Santa Ana and the health, safety and welfare of its residents, and is in accord with <br />the public purpose and provisions of the applicable state and local laws. <br /> <br />Section 3. The City Council hereby finds and determines that the consideration <br />for the revised sale price for the Site pursuant to the First Implementation Agreement is <br />not less than the fair reuse value of the Site determined in accordance with the covenants <br />and conditions governing the sale in consideration of the use and with the covenants and <br />conditions and development costs authorized by the sale. <br /> <br />Section 4. The sale of the Site by the Agency to Saint Josephs Ballet Company, <br />upon the terms and conditions contained in the First Implementation Agreement is hereby <br />approved. <br /> <br />Section 5. The Clerk of the Council shall attest to and certify the vote adopting <br />this Resolution. <br /> <br />ADOPTED this <br /> <br />day of <br /> <br />,2005. <br /> <br />Miguel A. Pulido <br />Mayor <br /> <br />80A-13 <br />