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RESOLUTION NO. 2011- <br />A RESOLUTION OF THE CITY COUNCIL OF <br />SANTA ANA MAKING CERTAIN FINDINGS WITH <br />RESPECT TO THE CONSIDERATION TO BE <br />RECEIVED BY THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF <br />SANTA ANA PURSUANT TO A DISPOSITION AND <br />DEVELOPMENT AGREEMENT BETWEEN THE <br />AGENCY AND VISTA DEL RIO HOUSING <br />PARTNERS, L.P., FOR THE SALE OF CERTAIN <br />REAL PROPERTY AND APPROVING THE SALE <br />OF SAID REAL PROPERTY UPON THE TERMS <br />AND CONDITIONS CONTAINED IN THAT <br />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 <br />Redevelopment Projects, including strengthening of public-private <br />partnerships to provide more affordable housing, and particularly to <br />provide decent, safe, sanitary, and affordable housing to the lower income <br />citizens of the City of Santa Ana. <br />B. In order to implement the Redevelopment Plan, the Agency <br />proposes to sell said real property located at 1600 W. Memory Lane (the <br />Property) 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 Housing Partners, L.P., a limited <br />partnership ("Developer"), which is on file in the office of the Executive <br />Director of the Agency. <br />C. Developer plans to develop a 41 unit, handicapped accessible <br />affordable rental housing project on the 3.2 acre vacant site owned by the <br />Agency. The term of affordability for such units will be fifty-five (55) years. <br />Exhibit 2 <br />1 <br />8OB-5