HomeMy WebLinkAbout87-010RESOLUTION NO. 87- 10
REL:adg-14
1/6/87
051
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA APPROVING AN AMENDMENT
TO A "DISPOSITION AND DEVELOPMENT AGREEMENT"
BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF SANTA ANA AND FIESTA
MARKETPLACE PARTNERS.
WHEREAS, the Community Redevelopment Agency of the
City of Santa Ana entered into a "Disposition and Development
Agreement" with Fiesta Marketplace Partners on August 20, 1985
(the "Agreement"), which provides for the sale of property in the
"A-8" development site by the Agency to Fiesta Marketplace Partners.
WHEREAS, this Council approved the Agreement on
August 20, 1985 by its Resolution No. 85-105;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF SANTA ANA AS FOLLOWS:
1. That certain "Amendment to Disposition and Development
Agreement" between the Agency and Fiesta Marketplace Partners,
approved this date by the Agency, is hereby approved by this
Council.
2. This Council finds and determines that the considera-
tion for the sale of Participation Parcels P-2 and P-7 pursuant
to the Agreement as thus amended is not less than the fair market
value of said property in accordance with covenants and con-
ditions governing such sale, and that such consideration is less
than fair market value determined at the highest uses permitted
under the Santa Ana Redevelopment Plan, but such lesser consider-
ation is necessary to effectuate the purposes of the said Plan.
ADOPTED this 20th day of January , 1987.
ATTEST:
Clerk of the Council/
COUNCILMEMBERS:
Daniel H. Yd~g I
Mayor ~
Young Ave APPROVED AS TO FORM:
McGuigan Ave
Hart
May Ay~
Acosta Aye
Pulido Ay~
Griset _~ City Attorney