HomeMy WebLinkAbout86-092REL .' adg-5a
9/5/86
RESOLUTION NO. 86- 92
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SANTA ANA APPROVING AN AMENDMENT TO A LEASE,
OPTION AND DEVELOPMENT AGREEMENT BETWEEN THE
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF
SANTA ANA AND J. R. WOOD (PARCELS 4 AND 5)
WHEREAS, the Community Redevelopment Agency of the City of
Santa Ana entered into a Lease, Option and Development Agreement
with J.R. Wood on December 18, 1984 (the "Agreement"), which
provides for the lease and/or sale of Parcel 6 in the Santa
Ana Auto Mall by the Agency to J.R. Wood.
WHEREAS, this Council approved the Agreement on December 18,
1984 by its Resolution No. 84-164; and
WHEREAS, the Agency has this date approved an amendment
to the Agreement which changes the parcel which is the subject
of the Agreement from Parcel 6 to Parcels 4 and 5 and the
total rental amount and/or purchase price which the Agency
will receive pursuant to the Agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF SANTA ANA AS FOLLOWS:
ment
this
1. That certain "Amendment to Lease, Option and Develop-
Agreement" between the Agency and J.R. Wood, approved
date by the Agency, is hereby approved by this Council.
2. This Council finds and determines that the considera-
tion for the lease and/or sale of the aforesaid Parcels 4 and 5
pursuant to the Agreement as thus amended is less than the
estimated value of said parcel, determined at the highest use
permitted under the Redevelopment Plan for the Santa Ana
RESOLUTION NO. 86- 92
PAGE TWO
South Main Street Redevelopment Project, but such lesser con-
sideration is necessary to effectuate the purposes of said plan.
ADOPTED this 16th day of September , 1986.
ATTEST:
Daniel E. Griset
Mayor
Clerk of
COUNCILMEMBERS:
Acosta Absent
Griset Aye
Hart Aye
Johnson Aye
Luxembourger Aye
McGuigan Aye
YounG Absent
APPROVED AS TO FORM: