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RESOLUTION NO. CRA 2005 -007 <br />A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF <br />SANTA ANA APPROVING A FIRST AMENDMENT <br />TO THE DISPOSITION AND DEVELOPMENT <br />AGREEMENT BETWEEN THE AGENCY AND <br />SANTA ANA TRANSIT VILLAGE, LLC <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. The Community Redevelopment Agency of the City of Santa Ana <br />(hereinafter referred to as the "Agency ") is engaged in activities necessary <br />to execute and implement the Redevelopment Plan for the Merged Project <br />Area (the Redevelopment Plan "), in the area formerly known as the Inter <br />City Commuter Station Redevelopment Project, <br />B. In order to implement the Redevelopment Plan, the Agency has <br />previously agreed, on or about April 19, 2004, to sell certain real property in <br />the Project Area, pursuant to the terms and provisions of a Disposition and <br />Development Agreement (hereinafter referred to as the "Agreement') <br />between the Agency and Santa Ana Transit Village, LLC, a California <br />limited liability company. As part of this Agreement, Santa Ana Transit <br />Village committed to acquire the property known as 901 East Santa Ana <br />Boulevard for its fair reuse value. <br />C. Santa Ana Transit Village, LLC, now seeks to acquire said real <br />property for its fair market value. <br />D. The Agreement contains all of the provisions, terms, conditions and <br />obligations required by the state and local laws. <br />E. Santa Ana Transit Village, LLC possess the qualifications and <br />financial resources necessary to acquire and insure development of the <br />Site, in accordance with the purpose and objectives of the Redevelopment <br />Plan. <br />5 -23 <br />