HomeMy WebLinkAbout93-038 - Orient Corporation of America, Inc.,RESOLUTION NO. 93-038
A RESOLUTION OF THE CITY COUNCIL OF THE
CITY OF SANTA ANA MAKING CERTAIN FIND-
INGS WITH RESPECT TO THE CONVEYANCE OF
REAL PROPERTY BY THE COMMUNITY REDEVEL-
OPMENT AGENCY OF THE CITY OF SANTA ANA
TO ORIENT CORPORATION OF AMERICA, INC.,
AND APPROVING THE TERMS AND CONDITIONS
OF SAID CONVEYANCE
WHEREAS,
Santa Ana is
implement the
Project; and
the Community Redevelopment Agency of the City of
engaged in activities necessary to execute and
Redevelopment Plan for the Santa Ana Redevelopment
WHEREAS, in order to implement the Redevelopment Plan, the
Agency has agreed, subject to the approval of this Council, to
convey certain real property in the Project Area pursuant to the
terms and provisions of that certain Owner Participation Agreement
between the Agency and Orient Corporation of America, Inc. (the
"Agreement"), 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 more specifically described; 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, and other matters, 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 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 hereby finds and determines that the con-
sideration for the conveyance of the Site pursuant to the Disposi-
tion Agreement is less than the fair market value of the site
determined at the highest use permitted under the Redevelopment
Plan, but such lesser consideration is necessary to effectuate the
purposes of the Redevelopment Plan.
2. The conveyance of the Site by the Agency to Orient
Corporation of America, Inc., upon the terms and conditions
contained in the Owner Participation Agreement is hereby approved.
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RESOLUTION 93-038 449
Page 2
ADOPTED this 19th
ATTEST:
l~lerk of the Council/
COUNCILMEMBERS:
Young Aye
Pulido Aye
Lutz Aye
Mills Aye
Moreno Aye
Norton Absent
Richardson Aye
day of
April , 1993.
MDayoa~r ~. Youn~ /
APPROVED AS TO FORM:
City Attorney
CERTIFICATE OF ORIGINALITY
State of California
County of Orange
I, JANICE C. GUY, Clerk of the Council, do hereby certify the
attached Resolution ~-O~ to be the original resolution
adopted by the city Council of the City of Santa Ana on
~/-/?- 73
co'un i
City of Santa Ana