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9/10/82
RESOLUTION NO. 82- 139
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA MAKING CERTAIN FINDINGS
WITH RESPECT TO THE CONSIDERATION TO BE
RECEIVED BY THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA PURSUANT
TO A DISPOSITION AND DEVELOPMENT AGREEMENT
BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF SANTA ANA AND THE FERRANTE/
WALDER JOINT VENTURE FOR THE SALE OF CERTAIN
REAL PROPERTY IN THE SANTA ANA REDEVELOPMENT
PROJECT AND APPROVING THE SALE OF SAID REAL
PROPERTY UPON THE TERMS AND CONDITIONS
CONTAINED IN THAT AGREEMENT.
WHEREAS, the Community Redevelopment Agency of the
City of Santa Ana is engaged in activities necessary to
execute and implement the Redevelopment Plan for the Santa
Ana Redevelopment Project; and
WHEREAS, in order to implement the Redevelopment
Plan, the Agency has agreed, subject to the approval of this
Council, to sell certain real property in the Project area,
pursuant to the terms and provisions of that certain
Disposition and Development Agreement between the Agency and
the Ferrante/Walder Joint Venture, which is on file in the
office of the Executive Director of the Agency, in which
said real property (hereinafter referred to as the "Site")
is described; and
WHEREAS, the Agreement contains all the
provisions, terms, conditions and obligations required by
state and local law; and
WHEREAS, the Ferrante/Walder Joint Venture
possesses the qualifications and financial resources
necessary to acquire and insure development of the Site, in
accordance with the purposes and objectives of the
Redevelopment Plan; and
WHEREAS, the Agem~¥ has prepared, and the City
Council..has ~eviewe.d and considered a Summary Report setting
forth the cost of the Agreement to the Agency, the estimated
value of the interests to be conveyed determined at the
highest uses permitted under the Redevelopment Plan, and the
purchase price, and made said Summary Report available for
public inspection in accordance with the California
Community Redevelopment Law; and
WHEREAS, the Agency has found and determined that
the environmental impact report prepared for the Santa Ana
Redevelopment Project is adequate for approval of the
Disposition and Development Agreement, and that no
additional environmental impact report is necessary, and
RESOLUTION NO. 82- 139
PAGE TWO
this Council likewise believes said environmental impact
report to be adequate for its use in approving the terms and
conditions of sale of the Site; and
WHEREAS, pursuant to the provisions of the
California Redevelopment Law, the Agency and the City
Council have held a duly noticed joint public hearing on the
proposed sale of the Site and the proposed Agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF SANTA ANA, AS FOLLOWS:
1. The City Council has considered all terms and
conditions of the proposed sale and hereby finds and
determines that the sale of the redevelopment of the Site
pursuant to the Disposition and Development Agreement is in
the best interests of the City and the health, safety,
morals and welfare of its residents, and is in accord with
the public purposes and provisions of the applicable state
and local laws.
2. The City Council hereby finds and determines that
the consideration for the sale of the Site pursuant to the
Disposition and Development Agreement is less than the fair
market value of the Site determined at the highest use
permitted under the Redevelopment Plan, but that such lesser
consideration is necessary to effectuate the purposes of the
Redevelopment Plan.
3. The sale of the Site by the Agency to the
Ferrante/Walder Joint Venture upon the terms and conditions
contained in the Disposition and Development Agreement is
hereby approved.
ADOPTED this 4th day of 0ct0ber , 1982.
ATTEST:
ice C. Gu~, Cl~k ~he Council
COUNCILMEMBERS:
Bricken Aye
Luxembourger Aye
Acosta Aye
Serrato Aye
Griset Aye
~a~kQ1
c~ulgan ~
~ward J~. C~op~ity
Attorney