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3/9/04les <br />RESOLUTION NO. CRA 2004 -02 <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA APPROVING THE <br />SALE OF AGENCY -OWNED PROPERTY LOCATED <br />AT 807 E. SANTA ANA BOULEVARD; AUTHORIZING THE <br />EXECUTIVE DIRECTOR TO EXECUTE DOCUMENTS AS <br />NECESSARY <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. 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 <br />not less than 20 percent of all taxes which are allocated to the Community <br />Redevelopment Agency of the City of Santa Ana ( "Agency ") are set aside by the <br />Agency in a Low- Moderate - Income Housing Fund and used by the Agency for <br />the purpose of increasing, improving and preserving the community's supply of <br />low and moderate housing available at affordable housing costs to persons and <br />families of low- and moderate - income, including very -low- income persons <br />( "Agency's Housing Set -Aside Account "). <br />B. The Agency has purchased a number of properties over the years for the <br />development of such low and moderate income housing. <br />C. California Community Redevelopment law (Health and Safety Code section <br />33334.16) currently restricts the length of time that an Agency can hold land for <br />future development to ten years. The Agency -owned property located at 807 E. <br />Santa Ana Boulevard (the "Property ") shall soon exceed the legal time limit. <br />D. Pursuant to Health and Safety Code section 33442, an agency may sell, lease, <br />grant, or donate real property owned or acquired by the agency to a housing <br />authority or to any public agency for public housing projects. <br />