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RESOLUTION NO. 2016 -002 <br />A RESOLUTION OF THE SANTA ANA HOUSING <br />AUTHORITY APPROVING THE PURCHASE AND SALE <br />AGREEMENT FOR THE DISPOSITION OF PROPERTY TO <br />THE CITY OF SANTA ANA LOCATED AT 710 EAST SIXTH <br />STREET, 714 EAST SIXTH STREET, 720 EAST SIXTH <br />STREET, 415 SOUTH RAITT STREET, AND 423 SOUTH <br />RAITT STREET <br />BE IT RESOLVED BY THE GOVERNING BOARD OF THE SANTA ANA <br />HOUSING AUTHORITY AS FOLLOWS: <br />Section 1: The Governing Board of the Santa Ana Housing Authority hereby <br />finds, determines and declares as follows: <br />A. California Health and Safety Code Sections 33334.2 and 33334.6 <br />formerly authorized and directed the Santa Ana Redevelopment <br />Agency (the "Redevelopment Agency ") to expend a certain percentage <br />of all taxes which are allocated to the Redevelopment Agency pursuant <br />to Section 33670 of the California Health and Safety Code for the <br />purposes of increasing, improving and preserving the community's <br />supply of low and moderate income housing available at affordable <br />housing cost to persons and families of low- and moderate - income, <br />lower income, and very low income. <br />B. Pursuant to applicable law the Redevelopment Agency established a <br />Low and Moderate Income Housing Fund (the "Housing Fund ") and <br />acquired certain property with the purpose of using such property for <br />the provision of affordable housing. <br />C. By ABx1 26 enacted by the California Legislature during 2011 (as <br />amended from time to time, the "Dissolution Act "), the California <br />Legislative eliminated every redevelopment agency within the State of <br />California, including the Redevelopment Agency. <br />D. The Dissolution Act provides, in part, that the host city of a <br />redevelopment agency was to designate a housing entity to receive the <br />housing assets of the former redevelopment agency within such city. <br />E. The City Council of the City of Santa Ana ( "City ") designated the Santa <br />Ana Housing Authority (the "Authority ") as the housing entity to receive <br />the housing assets of the former Redevelopment Agency. <br />F. The Redevelopment Agency utilized moneys from its Housing Fund in <br />connection with the acquisition of certain sites, delineated as follows: <br />Resolution No. 2016 -002 <br />Page 1 of 5 <br />