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RESOLUTION NO. 2008-059 <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 <br />COMMUNITY REDEVELOPMENT AGENCY OF THE CITY <br />OF SANTA ANA PURSUANT TO A DISPOSITION AND <br />DEVELOPMENT AGREEMENT BETWEEN THE AGENCY <br />AND ORANGE COUNTY COMMUNITY HOUSING <br />CORPORATION FOR THE SALE OF CERTAIN REAL <br />PROPERTY AND APPROVING THE SALE OF SAID REAL <br />PROPERTY UPON THE TERMS AND CONDITIONS <br />CONTAINED IN THAT AGREEMENT <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA, AS <br />FOLLOWS: <br />Section 1: The City Council of the City of Santa Ana hereby finds, determines <br />and declares as follows: <br />A. The Community Redevelopment Agency of the City of Santa Ana <br />(hereinafter referred to as the "Agency") is engaged in activities <br />necessary to execute and implement the Redevelopment Plan for <br />the Merged Redevelopment Projects, including strengthening of <br />public-private partnerships to provide more affordable housing, and <br />particularly to provide decent, safe, sanitary, and affordable <br />housing to the lower income citizens of the City of Santa Ana. <br />B. In order to implement the Redevelopment Plan, the Agency <br />proposes to sell said real property located at 1006, 1012 and 1015 <br />Logan Street (the Properties) pursuant to the terms and provisions of <br />a Disposition and Development Agreement (hereinafter referred to <br />as the "Agreement") between the Agency and Orange County <br />Community Housing Corporation, a non-profit, public benefit <br />corporation, which is on file in the office of the Executive Director of <br />the Agency. <br />C. Orange County Community Housing Corporation proposes <br />partnering with general contractor Hope Builders, a subsidiary of <br />Taller San Jose and Neighborhood Housing Services of Orange <br />County to construct and sell these homes to qualified households. <br />The term of affordability on each of the three homes will be forty- <br />five years. <br />D. The consideration for the Properties is not less than the fair market <br />Resolution No. 2008-059 <br />Page 1 of 3 <br />