011706 RESO CDA Amending Sec 10.5 Agency By-Laws

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RESOLUTION NO. CRA 2006- 002- A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AMENDING SECTION 10.5 OF THE AGENCY'S BYLAWS. BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS: Section 1. The Board of the Community Redevelopment Agency of the City of Santa Ana hereby finds, determines and declares as follows: A. On April 16, 1985, the Agency added Section 10.5 to its Bylaws requiring the affirmative vote of at least five (5) Agency Board members to approve any contract which directly or indirectly obligates the Agency to acquire any interest in real property. B. This provision was added to prevent only a majority of the Agency members from approving an agreement, such as a disposition and development agreement or owner participation agreement that contemplated potential future exercise of eminent domain which, by State law, would require the affirmative vote of at least five (5) Agency Board members. In that situation, the purpose of such agreement could be severely frustrated, potentially exposing the Agency to risk for failure to perform all of the terms. C. The vast majority of real estate agreements approved by the Agency are entirely voluntary and do not contemplate the exercise of the power of eminent domain. In several project areas the Agency's powers of condemnation have expired rendering application of Section 10.5 unnecessary. D. The Agency Board supports and reaffirms the policy underlying Section 10.5 that agreements requiring future consideration of a resolution of necessity be supported by at least as many Agency Board members as necessary to adopt such resolution in the future. E. Seven (7) days advance written notice of said amendment has been given to the members of the Agency by the Executive Director of the Agency. 4-3 Resolution No. CRA 2006 -XXX Page 1 of 3