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CRA RESOLUTION NO. 2011-003 <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 HABITAT FOR HUMANITY OF <br />ORANGE COUNTY, INC. <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 719 and 812 N. Concord, 1314 Eastwood, 4809 W. <br />Edinger, 4010, 4018, 4030, 4106, and 4110 W. McFadden, 1029 McLean, <br />1114 and 1121 S. Cypress, and 717 E. Third Street (the Properties) <br />pursuant to the terms and provisions of a Disposition and Development <br />Agreement (hereinafter referred to as the "Agreement") between the <br />Agency and Habitat for Humanity of Orange County, Inc., a non-profit, <br />public benefit corporation ("Developer'), which is on file in the office of the <br />Executive Director of the Agency, in which said real property, is described. <br />C. Developer proposes to construct and sell seventeen (17) single <br />family homes to low and moderate income qualified households. The term <br />of affordability on each of the homes will be for forty-five (45) years. <br />D. The Agreement contains all of the provisions, terms, conditions and <br />obligations required by the state and local laws. <br />E. Developer possesses the qualifications and financial resources <br />necessary to acquire and insure development of the Properties in <br />CRA Resolution No. 2011-003 <br />Page 1 of 3