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6/13/11 LES <br />RESOLUTION NO. 2011- <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SANTA ANA APPROVING THE SALE OF AGENCY OWNED <br />PROPERTY LOCATED AT 335 EAST McFADDEN AVENUE; <br />AUTHORIZING THE CITY MANAGER TO EXECUTE <br />DOCUMENTS AS NECESSARY; AND MAKING CERTAIN <br />FINDINGS WITH RESPECT THERETO, ON BEHALF OF THE <br />CITY <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: <br />Section 1. The City Council of the City of Santa Ana hereby, finds, determines and declares <br />as follows: <br />A. Pursuant to Sections 33334.2(a) and 33334.6(c) of the California Community <br />Redevelopment Law (California Health and Safety Code Section 33000 et sec..) not less <br />than 20 percent of all taxes which are allocated to the Community Redevelopment Agency <br />of the City of Santa Ana ("Agency") are set aside by the Agency in a Low- Moderate-Income <br />Housing Fund and used by the Agency for the purpose of increasing, improving and <br />preserving the community's supply of low and moderate housing available at affordable <br />housing costs to persons and families of low- and moderate-income, including very-low- <br />income persons. <br />B. During the course of its regular activities, the Agency purchased the property located at <br />335 E. McFadden Avenue for residential development (the "Property"). <br />C. California Community Redevelopment law (Health and Safety Code section 33433) <br />requires that before any Agency owned property, acquired in whole or in part with tax <br />increment moneys, is sold for development, the sale must first be approved by the legislative <br />body by resolution after a public hearing. <br />D. The Agency proposes to sell the Property to the City of Santa Ana at the current <br />appraised fair market value, pursuant to the terms and provisions of Purchase/Sale <br />Agreement (hereinafter referred to as the "Agreement"). The City will be utilizing District 3 <br />Acquisition and Development Funds to purchase the Property. <br />E. The City has duly considered all of the terms and conditions of the proposed purchase, <br />and believes that the proposed purchase is in the best interests of the City and the health, <br />safety, morals and welfare of its residents, and in accord with the public purpose and <br />provisions of applicable state and local laws and requirements. <br />F. The City and Agency held a public hearing on the proposed sale/purchase and the <br />Agreements as required by Section 33433 of the Community Redevelopment Law, after <br />having duly provided notice of such public hearing in accordance with state law. <br />G. In accordance with the California Environmental Quality Act (CEQA), this project is exempt <br />from further review. A Categorical Exemption (ER-2011-47) has been filed for this project <br />EXHIBIT 2 <br />8OB-7