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5/1/12 LES SUCCESSOR-AGENCY RESOLUTION NO. 2012 -004 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA ACTING AS SUCCESSOR AGENCY TO THE FORMER COMMUNITY REDEVELOPMENT AGENCY ASSUMING ASSIGNMENT OF ALL AGREEMENTS AND CONTRACTUAL OBLIGATIONS OF THE FORMER COMMUNITY REDEVELOPMENT AGENCY BE IT RESOLVED BY THE MEMBERS OF THE SUCCESSOR AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: Section 1. The City Council of Santa Ana, acting as Successor Agency, hereby finds, determines and declares as follows: A. The California Supreme Court's decision in the recent California Redevelopment Agency v. Matosantos case upheld ABX1 26 which will now control the dissolution and winding down of every California redevelopment agency. ABX1 26 prohibits agencies from taking numerous actions, requires all agencies to wind down their affairs effective immediately, and provides that agencies are deemed to be dissolved as of February 1, 2012. B. On January 9, 2012, pursuant to section 34173 of the California Health & Safety Code, the City of Santa Ana ( "City ") elected to serve as the Successor Agency for the former Community Redevelopment Agency ( "Agency ") of the City of Santa Ana and the Housing Authority of the City of Santa Ana as "Successor Housing Agency ". C. The City will perform its functions as the Successor Agency under the Dissolution Act to administer the enforceable obligations of the Agency and otherwise unwind the Agency's affairs, with most actions subject to the review and approval of a seven member Oversight Board. D. With the dissolution of the Agency, all assets, properties, contracts, leases, books and records, buildings and equipment of the former Agency (except for most affordable housing assets) transferred by operation of law to the City of Santa Ana, acting as Successor Agency. E. To further ensure that Agency agreements and contracts related to services and work product are vested correctly, the City, acting as Successor Agency, desires to take formal action to assume the assignment of all such agreements and contracts of the former Agency, by adoption of this resolution. F. The City, acting as Successor Agency, hereby assumes the assignment of all such agreements and contracts of the former Agency, as listed on Exhibit A, attached hereto and incorporated herein by this reference. G. Health and Safety Code Section 34173(e) provides that "the liability of any successor agency, acting pursuant to the powers granted under the act adding this part, shall be limited to the extent of the total sum of property tax revenues it receives Resolution No. 2012 -004 Page 1 of 4