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7/23/07 LES <br />RESOLUTION NO. 2007- <br />A RESOLUTION OF THE CITY OF SANTA ANA <br />APPROVING THE SALE OF AGENCY OWNED <br />PROPERTY GENERALLY LOCATED IN THE 1300 <br />BLOCK OF SOUTH RITCHEY AVENUE, SANTA <br />ANA, CALIFORNIA; AND MAKING CERTAIN <br />FINDINGS WITH RESPECT THERETO, ON <br />BEHALF OF THE CITY <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby, finds, determines and declares <br />as follows: <br />A. The Community Redevelopment Agency of the City of Santa Ana (hereinafter <br />referred to as the "Agency") purchased the property generally located in the 1300 block of <br />South Ritchey Avenue in the 1980's from Santa Fe Railroad for development of the Santa <br />Ana Auto Mall, located in the Merged Redevelopment Project Area. <br />B. Part of that acquisition included a remnant strip of land on the west <br />side of Ritchey Avenue across from the Santa Ana Auto Mall. Martin Investment Company <br />(Buyer) owns several parcels of land adjacent to the Agency owned property. <br />C. In order to maximize the development of the site, Buyer proposes to purchase <br />the Agency owned parcel (the Remnant Parcel) and incorporate it into its development <br />project. Buyer's project has received Site Plan approval and is currently in plan check for a <br />development consisting of three new industrial buildings totaling 31,900 square feet. There <br />is an existing 24,010 square foot industrial building that will remain on the adjacent site <br />currently owned by Buyer. The project will also include the consolidation of the lots by the <br />Buyer. <br />D. The Agency proposes to sell the Remnant Parcel to the Buyer at its current <br />appraised value, as established by an independent fee appraiser, pursuant to the terms and <br />provisions of a Sale Agreement (hereinafter referred to as the "Agreement"). <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 the health, <br />safety, morals and welfare of its residents, and in accord with the provisions of applicable <br />state and local laws and requirements. <br />F. The City and Agency held a public hearing on the sale of the Remnant Parcel and <br />the Agreement as required by Section 33433 of the Community Redevelopment Law, after <br />having duly provided notice of such public hearing in accordance with state law. <br />80B-4 <br />