COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA 1b-2008

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S Z• COOPERATNE AGREEMENT BETWEEN THE CITY OF SANTA ANA AND THE COMMUMTY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA (ENTERPRISE ZONE APPLICATION) A-2008-094-01 THIS AGREEMENT is entered into this J day of MaY , 2008, by and between the COMMilNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, a public body corporate and politic (the "Agency"), and the CITY OF SANTA ANA, a charter city and municipal corporation duly organized and existing under the Constitution and laws of the State of California (the "City"). WITNESSETH A. The Agency is undertaking certain activities necessary for the execution of the City of Santa Ana redevelopment projects (the "Projects") under the provisions of the Califomia Cormunity Redevelopment Law (Health and Safety Code Section 33000 et seq.) and pursuant to the redevelopment plans for the Projects. B. The City of Santa Ana applied to the State of Califomia and received a fifteen year Enterprise Zone (EZ) designation in 1993. This designation is scheduled to expire on June 7, 2008. C. The Enterprise Zone program was created by the State of California for the purpose of stimulating the economy in areas that are deemed to be economically challenged. The program helps create new jobs and reduce blight. D. The Agency desires to contract with the City for the Agency to provide funds to the City to assist in funding the consultant that will assist in the completion of the procedure necessary to obtain a new fifteen year Enterprise Zone designation. E. On January 31, 2008, the Department of Housing and Community Development (HCD) awarded a conditional designation to the Santa Ana Enterprise Zone. This new designation will become effective on June 8, 2008. On March 17, 2008, a letter from HCD was mailed to the City of Santa Ana specifying the conditions the City must satisfy in order to obtain final designation. The consultant will assist with meeting the conditions outlined in the letter in order to receive final designation. F. The Agency is willing to contribute funding for the consultant as the designation of Enterprise Zone will assist the Agency with its ongoing redevelopment activities. NOW, THEREFORE, the parties hereto do mutually agree as follows: