HomeMy WebLinkAbout1991-08 CRA
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RESOLUTION NO.
91-08
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF SANTA ANA, APPROVING A DISPOSITION AND
DEVELOPMENT AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA AND PAUL DEL VALLE, INC.:
MAXING CERTAIN FINDINGS WITH RESPECT TO THE CONSIDERATION
TO BE RECEIVED BY THE AGENCY PURSUANT TO SAID AGREEMENT:
AND AUTHORIZING THE EXECUTION AND IMPLEMENTATION OF SAID
DISPOSITION AND DEVELOPMENT AGREEMENT
WHEREAS, the Community Redevelopment Agency of the city of
Santa Ana (the "Agency") is engaged in activities necessary to
develop low- and moderate-income housing in the city of Santa Ana
pursuant to the Community Redevelopment Law: and
WHEREAS, in implementation of the Agency's low- and moderate-
income housing program, the Agency proposes to sell certain real
property located in the City of Santa Ana (the "Site") pursuant to
the terms and provisions of a proposed Disposition and Development
Agreement (the "DDA") to be entered into with Paul Del Valle, Inc.
(the "Developer"); and
WHEREAS, the DDA provides for the development of dwelling
units affordable to and restricted to occupancy by moderate-income
households; and
WHEREAS, the Developer has submitted to the Agency a written
offer in the form of said DDA as submitted to purchase the Site;
and
WHEREAS, the proposed DDA contains all the provisions, terms
and conditions, and obligations required by State and local law;
and
WHEREAS, the Developer possesses the qualifications and
financial resources necessary to acquire and insure the development
of the site in accordance with the purposes and objectives of the
Redevelopment Plan; and
WHEREAS, as set forth in the Community Redevelopment Law
(Health and Safety Code section 33334.6) the Legislature has
determined that the use of Low- and Moderate-Income Housing Funds
for the provision and improvement of affordable housing outside of
redevelopment project areas can be of direct benefit to projects in
assisting the accomplishment of project objectives: and
WHEREAS, the Agency has prepared, reviewed and considered a
summary report setting forth the cost of the DDA to the Agency, the
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estimated value of the interests to be conveyed determined at the
highest uses permitted under applicable land use controls, and the
purchase price, and made said summary available for public
inspection in accordance with the California Community
Redevelopment Law; and
WHEREAS, the summary report has been considered by Agency
staff, and the staff has satisfied the Agency that the sale and the
DDA are feasible; and
WHEREAS, pursuant to the provisions of the California
Redevelop.ent Law, the Agency and the City Council of the City of
Santa Ana have held a duly noticed joint public hearing on the
proposed sale of the Site and the proposed DDA; and
WHEREAS, the Agency has duly considered all teras and
conditions of the proposed sale and believes that the development
of the site pursuant to the proposed DDA is in the best interests
of the City and the health, safety, morals, and welfare of its
residents, and in accord with the public purposes and provisions of
applicable State and local law and requirements.
NOW, THEREFORE, BE IT RESOLVED by the Community Redevelopment
Agency of the City of Santa Ana as follows:
1. The Agency hereby finds and determines that the
consideration for the sale of the site pursuant to the DCA between
the Agency and the Developer is not less than the fair market value
for the Site in accordance with the covenants and conditions
governing such sale.
2. The Agency hereby finds and determines that the
consideration for the sale of the Site pursuant to said DDA is
necessary to effectuate the Agency's low- and moderate-income
housing program organized under the Community Redevelopment Law.
3. The sale of the site by the Agency to the Developer and
the DCA which establishes the terms and conditions for the sale and
development of the Site are hereby appro~ed.
4. The Chairman of the Agency is hereby authorized to
execute the DDA.
5. The Executive Director (or designee) is hereby authorized
to take all steps, and to sign all documents and instruments on
behalf of the Agency necessary and appropriate to implement and
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carry out the provisions of the DDA and related documents and the
conveyance of the site pursuant to the DDA.
The foregoing resolution was regularly introduced and adopted
at a meeting of the Community Redevelopment Agency of the City of
Santa Ana duly held on the 20th of August
1991.
ADOPTED this
the following vote:
, 1991 by
day of
August
20th
AYES:
MEMBERS: ACOSTA, GRISET, MCGUIGAN, NORTON, PULIDO
NOES:
MEMBERS:
ABSENT:
MEMBERS: RICHARDSON, YOUNG
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ATTEST
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Secretary ~
APPROVED AS TO FORM:
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Agency Attorney
2WH725
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