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<br />D. The Developer has requested, by way of a First Amendment to the <br />Agreement, to acquire 901 East Santa Ana Boulevard for its fair market <br />value, rather than at a subsidized fair reuse value. <br /> <br />E. The First Amendment to the 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. Mitigated Negative Declaration and Mitigation Monitoring Program <br />for Environmental Review No. 2003-182, was approved and adopted by <br />resolution which came before the City Council on April 19, 2004. Except <br />for financial terms, the project as described in this Mitigated Negative <br />Declaration has not been altered in any way, and for this reason the <br />subsequent use of this Mitigated Declaration is appropriate, and is hereby <br />approved. This resolution incorporates by reference, as though fully set <br />forth herein, said Council resolution and the Mitigated Negative <br />Declaration and Mitigation Monitoring Program. <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 Amendment to the Agreement is the best interests of <br />the City of Santa Ana and the health, safety and welfare of its residents, and is in accord <br />with 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 901 East Santa Ana Boulevard pursuant to the First <br />Amendment to the Disposition and Development Agreement is not less than the fair <br />market value of the Site determined in accordance with the covenants and conditions <br />governing the sale. <br /> <br />Section 4. The revised sales price and sale of 901 East Santa Ana Boulevard <br />parcel by the Agency to Santa Ana Transit Village, LLC, upon the terms and conditions <br />contained in the First Amendment to the Agreement is hereby 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 />808-4 <br />