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12/9/10 LES RESOLUTION NO. 2010-006 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY FOR THE CITY OF SANTA ANA APPROVING THE SALE OF AGENCY OWNED PROPERTY LOCATED AT 602 N. GARFIELD AVENUE, 809-811 BROWN STREET AND 902 BROWN STREET; AUTHORIZING THE EXECUTIVE DIRECTOR TO EXECUTE DOCUMENTS AS NECESSARY; AND MAKING CERTAIN FINDINGS WITH RESPECT THERETO, ON BEHALF OF THE AGENCY 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. Pursuant to Sections 33334.2(a) and 33334.6(c) of the California Community Redevelopment Law (California Health and Safety Code Section 33000 et sec..) not less than 20 percent of all taxes which are allocated to the Community Redevelopment Agency of the City of Santa Ana ("Agency") are set aside by the Agency in a Low- Moderate-Income Housing Fund and used by the Agency for the purpose of increasing, improving and preserving the community's supply of low and moderate housing available at affordable housing costs to persons and families of low- and moderate-income, including very-low- income persons. B. During the course of its regular activities, the Agency has purchased a number of properties for residential development in what is now known as the Station District, including the vacant properties located at 602 N. Garfield Avenue, 809-811 Brown Street, and 902 Brown Street (the "Properties"). The Properties are situated adjacent to Garfield Elementary School. C. During community outreach efforts, it was determined that the Properties were better suited for open space/public uses to serve the neighborhood, with final design yet to be determined (the "Project"). D. California Community Redevelopment law (Health and Safety Code section 33433) requires that before any Agency owned property, acquired in whole or in part with tax increment moneys, is sold for development, the sale must first be approved by the legislative body by resolution after a public hearing. E. The Agency proposes to sell the Property to the City of Santa Ana at the current appraised fair market value, pursuant to the terms and provisions of Purchase/Sale Agreement(s) (hereinafter referred to as the "Agreements"). The City will be utilizing Community Development Block Grant (CDBG) funds to purchase the Properties. Resolution No. CRA 2010-006 Page 1 of 3