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'035 <br /> <br />CITY COUNCIL OF THE CITY OF SANTA ANA <br /> RESOLUTION NO. 97-010 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SANTA ANA <br />APPROVING THE IMPLEMENTATION AGREEMENT BETWEEN THE <br />COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA <br />AND SOUTHLAND ECONOMIC DEVELOPMENT CORPORATION, DBA SANTA <br />ANA DEVELOPMENT COMPANY, PERTAINING TO THE SALE OF FIVE <br />AGENCY-OWNED PARCELS AND THE CONSTRUCTION THEREON OF FIVE <br />REPLACEMENT HOUSING UNITS; AND MAKING CERTAIN FINDINGS <br />WITH RESPECT THERETO. <br /> <br />THE CITY COUNCIL OF THE CITY OF SANTA ANA HEREBY FINDS, DETERMINES, <br />RESOLVES AND ORDERS AS FOLLOWS: <br /> <br /> WHEREAS, the City of Santa Ana has an obligation to provide <br />replacement low and moderate income dwelling units in accordance <br />with HUD Regulations (24 CFR §570.606) in the City of Santa Ana <br />(the "Replacement Housing"); and <br /> <br /> WHEREAS, the HUD Regulations provide that Replacement Housing <br />units may be provided by any government agency or private <br />developer, and must meet the requirements set forth in 24 CFR. <br />§570.606(c) (ii) (the "HUD Requirements"); and <br /> <br /> WHEREAS, Southland Economic Development Corporation, dba Santa <br />Ana Development Company ("Developer") is a nonprofit corporation <br />having experience and qualifications in acquiring, constructing and <br />providing well-managed and affordable housing for low and moderate <br />income persops and families in the community; and <br /> <br /> WHEREAS, pursuant to the Community Redevelopment Law <br />(California Health and Safety Code Section 33334.2 et seq., <br />referred to hereinafter as the "Redevelopment Law"), not less than <br />20% of the tax increment derived from redevelopment projects in the <br />City of Santa Ana must be used to provide affordable housing for <br />persons and families of low and moderate income in the city of <br />Santa Ana (the "Housing Funds"); and <br /> <br /> WHEREAS, using a portion of its Housing Funds, the Agency has <br />acquired five parcels of property in the City of Santa Ana, <br />described as set forth in the legal description attached to this <br />Resolution as Exhibit "A" (each one referred to as a "Parcel" and <br />referred to collectively as the "Parcels") which are appropriate <br />for the development of single-family housing which may be counted <br />towards the City's Replacement Housing obligation; and <br /> <br />-1- <br /> <br /> <br />