HomeMy WebLinkAbout90-028RESOLUTION NO. 90-02~
REL:mb(4a)
3/05/90
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 HUTTON
DEVELOPMENT CO., INC. FOR THE SALE OF
CERTAIN REAL PROPERTY IN THE CENTRAL CITY
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 Redevelop-
ment 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 Hutton Develop-
ment Co., Inc., 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
laws; and
WHEREAS, Hutton Development Co., Inc. 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 the 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
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 pursuant to the Agreement;
377
378
RESOLUTION NO.
PAGE TWO
90-028
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 con-
ditions of the proposed sale and hereby finds and determines
that the sale and the redevelopment of the Site pursuant to the
Disposition and Development Agreement is the best interests of
the City and the health, safety 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 Disposi-
tion and Development Agreement is not less than the fair market
value of the Site determined in accordance with the covenants
and conditions governing the sale of the Site.
3. The sale of the Site by the Agency to Hutton Develop-
ment Co., Inc., upon the terms and conditions contained in the
Disposition and Development Agreement is hereby approved.
ADOPTED this 20th day of March , 1990.
ATTEST:
~nice C. Guy z g//
Clerk of the Counc~iI
Daniel H. Youn~l /
Mayor
COUNCILMEMBERS:
Young Absent
Ac os t a A,¥e
Griset Aye
May Absent
McGuigan
Norton Aye
Pulido
APPROVED AS TO FORM:
~pe r
City Attorney