80A - JOINT PH 715-719 N CONCORD ST

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3/21/08 LES RESOLUTION NO. 2008- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA APPROVING THE SALE OF AGENCY OWNED PROPERTY LOCATED AT 715-719 N. CONCORD STREET; AUTHORIZING THE DEPUTY CITY MANAGER FOR DEVELOPMENT SERVICES TO EXECUTE DOCUMENTS AS NECESSARY; AND MAKING CERTAIN FINDINGS WITH RESPECT THERETO, ON BEHALF OF THE CITY BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1. The City Council of the City of Santa Ana hereby, finds, determines and declares as follows: A. Pursuant to Sections 33334.2(a) and 33334.6(c) of the California Community Redevelopment Law (California Health and Safety Code Section 33000 et seq.) not less than 20 percent of all taxes which are allocated to the Community Redevelopment Agency of the City of Santa Ana ("Agency") are set aside by the Agency in a Low- Moderate-Income Housing Fund and used by the Agency for the purpose of increasing, improving and preserving the community's supply of low and moderate housing available at affordable housing costs to persons and families of low- and moderate-income, including very-Iow- income persons. B. The Agency has purchased a number of properties over the years for the development of such low and moderate income housing. C. California Community Redevelopment law (Health and Safety Code section 33334.16) currently restricts the length of time that an Agency can hold land for future development to ten years. The property located 715-719 N. Concord Street ("the Property") will soon exceed the legal time limit. D. The Agency proposes to sell the Property to the City of Santa Ana at the current appraised value, pursuant to the terms and provisions of a Purchase/Sale Agreement (hereinafter referred to as the "Agreement"). E. The City has duly considered all of the terms and conditions of the proposed sale, and believes that the proposed sale is in the best interests of the City and the health, safety, morals and welfare of its residents, and in accord with the public purpose and provisions of applicable state and local laws and requirements. F. The City and Agency held a public hearing on the proposed Project and the Agreement as required by Section 33433 of the Community Redevelopment Law, after having duly provided notice of such public hearing in accordance with state law. G. The proposed sale of the Property is exempt from further review and in accordance with the California Environmental Quality Act, Categorical Exemption ER No. 2008-70 will be filed for this project. 80A-4