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C. The Agreement contains all of the provisions, terms, conditions and <br />obligations required by the state and local laws. <br />D. The Charles Bowers Museum Corporation, a California non-profit <br />public benefit corporation, possess the qualifications and financial <br />resources necessary to acquire and insure development of the Site, in <br />accordance with the purpose and objectives of the Redevelopment Plan. <br />E. In accordance with the California Environmental Quality Act, the <br />recommended action is exempt from further review. An exemption for <br />Environmental Review No. 2009-004 will be filed for this project. <br />F. Pursuant to the provisions of the California Redevelopment Law, the <br />Agency and the City Council have held a duly noticed joint public hearing on <br />the proposed sale of the Site pursuant to the Agreement. The City Council <br />has considered all evidence submitted, both oral and written, as has been <br />fully advised prior to adoption of this Resolution. <br />Section 2. The City Council has considered all terms and conditions of the <br />proposed sale and hereby finds and determines that the sale and the redevelopment of <br />the Site pursuant to the Agreement is the best interests of the City of Santa Ana and the <br />health, safety and welfare of its residents, and is in accord with the public purpose and <br />provisions of the applicable state and local laws. <br />Section 3. The City Council hereby finds and determines that the consideration <br />for the sale of the Site pursuant to the Disposition and Development Agreement is not <br />less than the fair reuse value of the Site determined in accordance with the covenants <br />and conditions governing the sale. <br />Section 4. The sale of the Site by the Agency to The Charles Bowers Museum <br />Corporation, a California non-profit public benefit corporation, upon the terms and <br />conditions contained in the Agreement is hereby approved. <br />Section 5. The Clerk of the Council shall attest to and certify the vote adopting <br />this Resolution. <br />ADOPTED this day of , 2009. <br />Miguel A. Pulido <br />Mayor <br />2 <br />80A-5 <br />