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RESOLUTION NO. 2008- A RESOLUTION OF THE CITY COUNCIL OF SANTA ANA MAKING CERTAIN FINDINGS WITH RESPECT TO THE CONSIDERATION TO BE RECEIVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA PURSUANT TO A DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE AGENCY AND OLSON URBAN HOUSING, LLC, FOR THE SALE OF CERTAIN REAL PROPERTY AND APPROVING THE SALE OF SAID REAL PROPERTY UPON THE TERMS AND CONDITIONS CONTAINED IN THAT AGREEMENT 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. The Community Redevelopment Agency of the City of Santa Ana (hereinafter referred to as the "Agency") is engaged in activities necessary to execute and implement the Redevelopment Plan for the Merged Redevelopment Projects, including strengthening of public-private partnerships to provide more affordable housing, and particularly to provide decent, safe, sanitary, and affordable housing to the lower income citizens of the City of Santa Ana. B. In order to implement the Redevelopment Plan, the Agency proposes to sell said real property located at: 2034 N. Bush, 2038 N. Bush, the corner of North Spurgeon and E. 22"d, 1314 Eastwood, 719 N. Concord, 812 N. Concord, 542 E. Central, 1029 McLean, 4010 & 4018 W. McFadden, 4106 W. McFadden, 4110 W. McFadden, 4809 W. Edinger (the Properties) pursuant to the terms and provisions of a Disposition and Development Agreement (hereinafter referred to as the "Agreement") between the Agency and Olson Urban Housing, LLC, which is on file in the office of the Executive Director of the Agency. C. Olson Urban Housing, LLC proposes to develop, construct, market and sell these twenty (20) single family homes to income qualified households. Of the twenty homes, thirteen will be sold to moderate 1 80A-7