HomeMy WebLinkAbout84-037RESOLUTION NO. 84- 37
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 PARTICIPATION
AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA AND GRAND PLAZA
DEVELOPMENT COMPANY FOR THE SALE OF CERTAIN
REAL PROPERTY IN THE SOUTH MAIN STREET REDEVELOPMENT
PROJECT AND APPROVING THE SALE OF SAID REAL
PROPERTY UPON THE TERMS AND CONDITIONS
CONTAINED IN THAT AGREEMENT
REL:ar
3/2/84
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 South
Main Street 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 Par-
ticipation Agreement between the Agency and Grand Plaza
Development Company, 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 pro¥i-
sions, terms, conditions and obligations required by state
and local laws; and
WHEREAS, Grand Plaza Development Company 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 Agency has prepared, and ~he City
Council has reviewed 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 has made said Summary Report available
for public inspection in accordance with the California
Community Redevelopment Law; and
RESOLUTION NO. 84- 37
PAGE TWO
WHEREAS, the Agency has found and determined that
the environmental impact report prepared for the South Main
Street Redevelopment Project is adequate for approval of the
Participation Agreement, and that no additional environ-
mental impact report is necessary, and this Council likewise
believes said environmental impact report to be adequate for
its use in aDproving the terms and conditions of sale of the
Site; and
WHEREAS, pursuant to the provisions of the Cal-
ifornia Redevelopment Law, the Agency and the City Council
have held a duly noticed joint public hearing on the pro-
posed 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 deter-
mines that the sale and the redevelopment of the Site pur-
suant to the Participation Agreement is in the best interests
of the city and the health, safety and welfare of its resi-
dents, and is in accord with the public purposes and pro-
visions 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 Participation Agreement is not less than the fair market
value of the Site in accordance with covenants and condi-
tions governing such sale.
3. The sale of the Site by the Agency to Grand
Plaza Development Company upon the terms and conditions
contained in the Participation Agreement is hereby approved.
ADOPTED this 20th d~y of ~4arc~ , 1984.
CLERK OF THE COUNCIL
COUNCILMEMBERS:
LUXEMBOURGER ~ve
GRISET ~¥e
ACOSTA ~¥e
BRICKEN ~ve
JOHNSON Aye
MCGUIGAN Aye
YOUNG Aye
APPROVED AS TO FORM:
CITY