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B. Pursuant to the California Community Redevelopment <br />Law (Part 1 (commencing with Section 33000) of Division 24 of <br />the California Health & Safety Code), the City Council of the <br />City has previously adopted its Ordinances Nos. 1173 and 1258 <br />establishing a Redevelopment Plan for the City of Santa Ana <br />Community Redevelopment Project Area (the "Project Area"). <br />The purpose of the Redevelopment Plan is to eliminate blight <br />and redevelop the Project Area. Pursuant to Section VI of <br />the Redevelopment Plan, the City is committed to aiding and <br />cooperating with the Community Redevelopment Agency of the <br />City of Santa Ana ("Agency") to carry out the Redevelopment_,. <br />Plan. <br />C. Developer has entered into a Disposition and <br />Development Agreement ("the DDA") with the Agency dated <br />QD <br />bkelt -*p 192:, which provides for Developer to acquire <br />certain real property owned by Agency in the Project Area <br />consisting of approximately 3.6 acres of land bounded on the <br />east by Flower Street, on the north by Santa Ana Boulevard on <br />the south by Third Street, and on the west by a dedicated <br />City alley, and more particularly described in Exhibit "A" to <br />this Agreement (the "Site"). By virtue of Developer's rights <br />under the DDA, Developer has an equitable interest in the <br />Site within the meaning of the Development Agreement Statute. <br />D. The purpose of this Agreement is to establish <br />Developer's vested rights to develop a commercial/office <br />project of between 150,000-315,000 square feet (excluding <br />-2- <br />2/23/90 <br />