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<br />EJC:adg <br />1/11/80 <br /> <br />RESOLUTION NO. 80-7 <br /> <br />. <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA MAKING <br />CERTAIN FINDINGS WITH RESPECT TO THE <br />CONSIDERATION TO BE RECEIVED BY THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA <br />PURSUANT TO A DISPOSITION AND DEVELOPMENT <br />AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA AND CALIFORNIA <br />TEACHERS FEDERAL CREDIT UNION FOR THE SALE AND <br />DEVELOPMENT OF CERTAIN REAL PROPERTY IN THE SANTA ANA <br />REDEVELOPMENT PROJECT; APPROVING THE PROPOSED <br />SALE OF SAID REAL PROPERTY; AND APPROVING THE <br />DISPOSITION AND DEVELOPMENT AGREEMENT <br />PERTAINING THERETO <br /> <br />WHEREAS, the Community Redevelopment Agency of the <br />City of Santa Ana is engaged in activities necessary to <br />execute and implement the Redevelopment Plan for the Santa <br />Ana Redevelopment Project; and <br /> <br />. <br /> <br />WHEREAS, in order to implement the Redevelopment <br />Plan, the Agency proposes to sell certain real property in <br />the project area, pursuant to the terms and provisions of a <br />Disposition and Development Agreement in which said real <br />property is described; and <br /> <br />WHEREAS, California Teachers Federal Credit Union <br />has submitted to the Agency a written offer in the form of <br />said Agreement to purchase the property; and <br /> <br />WHEREAS, the proposed Agreement contains all the <br />provisions, terms, conditions and obligations required by <br />state and local law; and <br /> <br />WHEREAS, California Teachers Federal Credit Union <br />possesses the qualifications and financial resources <br />necessary to acquire and insure development of the Property, <br />in accordance with the purposes and objectives of the <br />Redevelopment Plan; and <br /> <br />. <br /> <br />WHEREAS, the Agency has prepared, reviewed and <br />considered a Summary Report setting forth the cost of the <br />Agreement to the Agency, the estimated value of the <br />interests to be conveyed determined at the highest uses <br />permitted under the Redevelopment Plan, and the purchase <br />price, and made said Summary Report available for public <br />inspection in accordance with the California Community <br />Redevelopment Law; and <br /> <br />WHEREAS, the Agency has found on the basis of an <br />Initial Study that said Agreement will not result in <br />substantial changes in the project or the circumstances <br />under which the project is to be undertaken, and that the <br />proposed action will have no significant effect on the <br />environment except as identified and considered in the <br />previous Environmental Impact Report; and <br /> <br />WHEREAS, pursuant to the provisions of the <br />California Redevelopment Law, the Agency and the City <br />Council have held a duly noticed joint public hearing on the <br />proposed sale of the property and the proposed agreement. <br /> <br />. <br /> <br />q <br /> <br />1~ <br />