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4/12/07 LES <br />RESOLUTION NO. 2008- <br />A RESOLUTION OF THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF <br />SANTA ANA APPROVING THE SALE OF AGENCY <br />OWNED PROPERTY LOCATED AT 715 -719 N. <br />CONCORD STREET; AUTHORIZING THE <br />EXECUTIVE DIRECTOR TO EXECUTE <br />DOCUMENTS AS NECESSARY; AND MAKING <br />CERTAIN FINDINGS WITH RESPECT THERETO, <br />ON BEHALF OF THE AGENCY <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 ") has purchased a number of <br />properties over the years for the development of low and moderate <br />income housing. <br />B. California Community Redevelopment law (Health and Safety Code <br />section 33334.16) currently restricts the length of time that an Agency can <br />hold land for future development to ten years. The property located at 715- <br />719 N. Concord Street ( "the Property ") will soon exceed the legal time limit. <br />C. The Agency has agreed, subject to the approval of the City Council, <br />to sell said real property at its current appraised value, pursuant to the <br />terms and provisions of a Purchase /Sale Agreement (hereinafter referred to <br />as the "Agreement') between the Agency and the City of Santa Ana, which <br />is on file in the office of the Executive Director of the Agency, in which said <br />real property is described. <br />D. The Agreement contains all of the provisions, terms, conditions and <br />obligations required by state and local laws. <br />1 <br />4 -16 <br />