80A - DISPOSITION-DEVELOPMENT-BUSH-BIRCH ST

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RESOLUTION NO. 2010- A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING A DISPOSITION AND DEVELOPMENT AGREEMENT BETWEEN THE AGENCY AND ORANGE HOUSING DEVELOPMENT CORPORATION AND C&C DEVELOPMENT BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: Section 1: The Board of the Community Redevelopment Agency 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 Project Areas (the "Redevelopment Plan"), 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 has agreed, subject to the approval of the City Council, to sell certain real property located at 217-219 S. Birch Street, 435-437 S. Birch Street, and 2034-2038 N. Bush Street (the "Property") pursuant to the terms and provisions of a Disposition and Development Agreement (hereinafter referred to as the "Agreement") between the Agency and Orange Housing Development Corporation (OHDC) and C&C Development (C&C) which is on file in the office of the Executive Director of the Agency, in which said real property is described. C. OHDC & C&C propose to construct five (5) multi-family residential units on each parcel to rent to qualified Very Low Income Households for the affordability term of fifty-five years. D. The Agreement contains all of the provisions, terms, conditions and obligations required by the state and local laws. EXHIBIT 5 1 8OA-13