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12/14/04 LES <br />D. The Agency invited households that were participating in the Family Self <br />Sufficiency Program ( "FSS ") operated by the Santa Ana Housing <br />Authority, to participate in a pre - qualification process conducted by the <br />Neighborhood Housing Services of Orange County. As a result of this <br />process, which included certain criteria and requirements to be performed <br />by the prospective buyers, four families became pre - qualified. A lottery <br />was held to determine the family that would be able to purchase the <br />Property, and Carlos Morales and Ana Viera were selected. <br />E. In order to implement the Redevelopment Plan, the Agency has <br />agreed, subject to the approval of the City Council, to sell said Agency <br />owned real property, pursuant to the terms and provisions of a <br />Purchase /Sale Agreement and an amended Agreement Containing <br />Covenants (Including Affordable Housing Restrictions) (hereinafter referred <br />to collectively as the "Agreements ") between the Agency and Carlos <br />Morales and Ana Viera, which are on file in the office of the Executive <br />Director of the Agency, in which said real property and the terms and <br />conditions of the purchase of the Property are more fully described. <br />F. The Agreements contain all of the provisions, terms, conditions and <br />obligations required by the state and local laws, as well as long term <br />affordability covenants. <br />G. The proposed sale of the Property is exempt from further review and in <br />accordance with the California Environmental Quality Act ( "CEQA ") in <br />accordance with Section 15061 (b)(3) of the CEQA Guidelines. Categorical <br />Exemption ER No. 2004 -233 will be filed for this project. <br />H. Pursuant to the provisions of the California Redevelopment Law (Health <br />and Safety Code section 33433) the Agency and the City Council have held <br />a duly noticed joint public hearing on the proposed sale of the Property. <br />I. The Agency finds that the consideration the Agency will receive for the sale <br />of the Property is not less than the fair reuse value given the use and with <br />the covenants and restrictions authorized by the sale and recorded against <br />the Property. <br />Section 2. The Purchase /Sale Agreement is hereby approved, and the <br />Executive Director of the Agency is hereby authorized to execute the Agreement, with <br />such non - substantive changes as may be approved by Agency's General Counsel. <br />Section 3. The Amended Agreement Containing Covenants (Including <br />2 <br />6 <br />