80A - JOINT - ACQUISITION 1126-1146 WASHINGTON

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RESOLUTION NO, 2016- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA APPROVING THE PURCHASE AND SALE AGREEMENT FOR THE ACQUISITION OF PROPERTY FROM THE HOUSING AUTHORITY OF THE CITY OF SANTA ANA FOR PROPERTY LOCATED AT 1126 -1146 E. WASHINGTON AVENUE 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. California Health and Safety Code Sections 33334.2 and 33334.6 formerly authorized and directed the Santa Ana Redevelopment Agency (the "Redevelopment Agency ") to expend a certain percentage of all taxes which are allocated to the Redevelopment Agency pursuant to Section 33670 of the California Health and Safety Code for the purposes of increasing, improving and preserving the community's supply of low and moderate income housing available at affordable housing cost to persons and families of low- and moderate - income, lower income, and very low income. B. Pursuant to applicable law the Redevelopment Agency established a Low and Moderate Income Housing Fund (the "Housing Fund ") and acquired certain property with the purpose of using such property for the provision of affordable housing. C. By ABx1 26 enacted by the California Legislature during 2011 (as amended from time to time, the "Dissolution Act "), the California Legislative eliminated every redevelopment agency within the State of California, including the Redevelopment Agency, D. The Dissolution Act provides, in part, that the host city of a redevelopment agency was to designate a housing entity to receive the housing assets of the former redevelopment agency within such city. E. The City Council of the City of Santa Ana ( "City ") designated the Housing Authority of the City of Santa Ana (the "Authority ") as the housing entity to receive the housing assets of the former Redevelopment Agency. Exhibit 3 FoorlyffiN