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RESOLUTION NO. 2009-041 <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 COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA <br />PURSUANT TO A DISPOSITION AND DEVELOPMENT <br />AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA, AND VISTA DEL RIO <br />HOUSING PARTNERS, L. P., A CALIFORNIA LIMITED <br />PARTNERSHIP, FOR THE SALE OF CERTAIN REAL PROPERTY <br />IN THE MERGED PROJECT AREA, AND APPROVING THE SALE <br />OF SAID REAL PROPERTY UPON THE TERMS AND <br />CONDITIONS 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 and <br />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 necessary <br />to execute and implement the Redevelopment Plan for the Merged Project <br />Area, in the sub-area formerly known as the Bristol Project Area ("the <br />Redevelopment Plan"). <br />B. In order to implement the Redevelopment Plan, the Agency has <br />agreed, subject to the approval of this Council, to sell certain real property in <br />the Project Area, pursuant to the terms and provisions of a Disposition and <br />Development Agreement (hereinafter referred to as the "Agreement") <br />between the Agency and Vista Del Rio, L.P., a California limited <br />partnership, which is attached to the Request for Council/Agency Action <br />submitted in conjunction with this Resolution, in which said Site, commonly <br />known as 1600 West Memory Lane, Santa Ana, California and consisting of <br />approximately 2.740 acres, is further described. This Request for <br />Council/Agency Action and its attachments dated July 20, 2009 are <br />incorporated herein by this reference as though fully set forth. <br />C. The Agreement contains all of the provisions, terms, conditions and <br />obligations required by the state and local laws. <br />D. Vista Del Rio, L.P., a California limited partnership, possess the <br />qualifications and financial resources necessary to acquire and insure <br />Resolution No. 2009-041 <br />Page 1 of 3 <br />