031504 Sale City Property 435-437 Birch St

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3/9/04LS RESOLUTION NO. 2004- RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA APPROVING THE SALE OF CITY -OWNED PROPERTY LOCATED AT 435 -437 S. BIRCH STREET TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AND AUTHORIZING THE CITY MANAGER TO EXECUTE DOCUMENTS AS NECESSARY BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1. The City Council of the City of Santa Ana hereby, finds, determines and declares as follows: A. The City of Santa Ana ( "City ") currently owns the property located at 435 -437 S. Birch Street (the "Property ") which was purchased using federal HOME funds by council action on October 7, 1997. The City had acquired the Property in order to remove a substandard apartment building and to pursue quality in -fill housing development for the Heninger Park neighborhood. B. Santa Ana Municipal Code section 2 -709 permits the sale of city real property made to any city, county, city and county, state or federal government, or any political subdivision of any of them, or to any nonprofit public benefit corporattn formed or controlled by the city without a public hearing. C. After extensive review, staff has determined that the affordable homeownership subsidies offered by the Community Redevelopment Agency of the City of Santa Ana ( "Agency ") are most appropriate to support the City's objectives in Heninger Park. For this reason, staff supports the City of Santa Ana's sale of 435 -437 S. Birch Street to the Agency for $411,000, which represents the original acquisition cost. D. Subject to Council and Agency approval, the City has agreed to sell the Property to the Agency pursuant to the terms and provisions of that certain Purchase and Sale Agreement (hereinafter referred to as the "Agreement ") between the City and the Agency, which is on file in the office of the Executive Director of the Agency. E. The Agreement contains all of the provisions, terms, conditions and obligations required by the state and local laws. F. The Agency possesses the qualifications and financial resources necessary to acquire and insure development of the Property, in accordance with the purpose and objectives of the redevelopment law. G. The City has duly considered all of the terms and conditions of the proposed sale, and believes that the proposed sale is in the best interests of the City and the health, safety, morals and welfare of its residents, and in accord with the public purpose and provisions of applicable state and local laws and requirements. 111