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CRA RESOLUTION NO. 2010-004 <br />A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF <br />SANTA ANA APPROVING A DISPOSITION AND <br />DEVELOPMENT AGREEMENT BETWEEN THE <br />AGENCY AND ORANGE HOUSING <br />DEVELOPMENT CORPORATION AND C&C <br />DEVELOPMENT <br />BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br />CITY OF SANTA ANA, AS FOLLOWS: <br />Section 1: The Board of the Community Redevelopment Agency of the City of <br />Santa Ana hereby finds, determines 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 necessary <br />to execute and implement the Redevelopment Plan for the Merged <br />Redevelopment Project Areas (the "Redevelopment Plan"), including <br />strengthening of public-private partnerships to provide more affordable <br />housing, and 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 has <br />agreed, subject to the approval of the City Council, to sell certain real <br />property located at 217-219 S. Birch Street, 435-437 S. Birch Street, and <br />2034-2038 N. Bush Street (the "Property") pursuant to the terms and <br />provisions of a Disposition and Development Agreement (hereinafter <br />referred to as the "Agreement") between the Agency and Orange Housing <br />Development Corporation (OHDC) and C&C Development (C&C) which is <br />on file in the office of the Executive Director of the Agency, in which said <br />real property is described. <br />C. OHDC & C&C propose to construct five (5) multi-family residential <br />units on each parcel to rent to qualified Very Low Income Households for <br />the affordability term of fifty-five years. <br />D. The Agreement contains all of the provisions, terms, conditions and <br />obligations required by the state and local laws. <br />E. OHDC and C&C possess the qualifications and financial resources <br />necessary to acquire and insure development of the Property, in <br />CRA Resolution No. 2010-004 <br />Page 1 of 3