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<br />RESOLUTION NO. 2007-039 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE SALE OF AGENCY-OWNED <br />PROPERTY LOCATED AT 612,614,622, 714 E. SANTA ANA <br />BOULEVARD AND 217-219 E. BIRCH STREET TO THE CITY <br />OF SANTA ANA; AUTHORIZING THE CITY MANAGER TO <br />EXECUTE DOCUMENTS AS NECESSARY; AND MAKING <br />CERTAIN FINDINGS WITH RESPECT THERETO, ON <br />BEHALF OF THE CITY <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 <br />and declares as follows: <br /> <br />A. Pursuant to Sections 33334.2(a) and 33334.6(c) of the California Community <br />Redevelopment Law (California Health and Safety Code Section 33000 et <br />seq.) not less than 20 percent of all taxes which are allocated to the <br />Community Redevelopment Agency of the City of Santa Ana ("Agency") are <br />set aside by the Agency in a Low- Moderate-Income Housing Fund and used <br />by the Agency for the purpose of increasing, improving and preserving the <br />community's supply of low and moderate housing available at affordable <br />housing costs to persons and families of low- and moderate-income, <br />including very-low-income persons. <br /> <br />B. The Agency has purchased a number of properties over the years for the <br />development of such low and moderate income housing. <br /> <br />C. California Community Redevelopment law (Health and Safety Code section <br />33334.16) currently restricts the length of time that an Agency can hold land for <br />future development to ten years. The properties located at 612, 614, 622, 714 <br />E. Santa Ana Boulevard and 217-219 E. Birch Street ("the Property") will soon <br />exceed the legal time limit. <br /> <br />D. The Agency proposes to sell the Property to the City of Santa Ana at the <br />current appraised values, pursuant to the terms and provisions of a <br />Purchase/Sale Agreement (hereinafter referred to as the "Agreement"). <br /> <br />E. The City has duly considered all of the terms and conditions of the proposed <br />sale, and believes that the proposed sale is in the best interests of the City and <br />the health, safety, morals and welfare of its residents, and in accord with the <br />public purpose and provisions of applicable state and local laws and <br />requirements. <br /> <br />Resolution No. 2007-039 <br />Page 1 of 3 <br />