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<br />bk: 12/05/05 <br /> <br />RESOLUTION NO. 2005-123 <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 AMENDMENT TO THE <br />DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN <br />THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY <br />OF SANTA ANA, AND SANTA ANA TRANSIT VILLAGE, LLC, <br />FOR THE SALE OF CERTAIN REAL PROPERTY IN THE <br />CENTRAL CITY REDEVELOPMENT PROJECT AND <br />APPROVING THE SALE OF SAID REAL PROPERTY UPON THE <br />TERMS AND CONDITIONS CONTAINED IN THAT 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 Inter City Commuter Station <br />Redevelopment 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 sell certain real <br />property in the Project Area, pursuant to the terms and provisions of that <br />certain Disposition and Development Agreement (hereinafter referred to as <br />the "Agreement") between the Agency and Santa Ana Transit Village, LLC, <br />which is on file in the office of the Executive Director of the Agency, in which <br />said real property, commonly referred to as 901 & 927 East Santa Ana <br />Boulevard, County of Orange Assessor Parcel Numbers 398-201-05 & <br />398-201-07 (collectively "the Site") is described. <br /> <br />C. The sale previously agreed to, included the sale of one of the two <br />parcels, 901 East Santa Ana Boulevard, at its fair reuse value. <br /> <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 />Resolution No. 2005-123 <br />Page 1 of 3 <br />