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<br />RESOLUTION NO. 90-2 <br /> <br />REL:mb(12) <br />3/5/90 <br /> <br />. <br /> <br />A RESOLUTION OF THE COMMUNITY REDEVELOPMENT <br />AGENCY OF THE CITY OF SANTA ANA APPROVING <br />AN AGREEMENT BETWEEN THE AGENCY AND HUTTON <br />DEVELOPMENT CO., INC. <br /> <br />WHEREAS, the Community Redevelopment Agency of the <br />City of Santa Ana is engaged in activities necessary to execute <br />and implement the Redevelopment Plan for the Santa Ana Redevelop- <br />ment Project; and <br /> <br />WHEREAS, in order to implement the Redevelopment <br />Plan, the Agency proposes to sell certain real property in the <br />Project Area, pursuant to the terms and provisions of that <br />certain "Disposition and Development Agreement" between the <br />Agency and Hutton Development Co., Inc., which is on file in <br />the office of the Executive Director of the Agency,' in which <br />said real property (hereinafter referred to as the "Site") is <br />described: and <br /> <br />WHEREAS, Hutton Development Co., Inc., has submitted <br />to the Agency a written offer in the form of said Agreement to <br />purchase the Site; and <br /> <br />. <br /> <br />WHEREAS, the proposed Agreement contains all the <br />provisions, terms, conditions and obligations required by state <br />and local law; and <br /> <br />WHEREAS, Hutton Development Co., Inc., possesses the <br />qualifications and financial resources necessary to acquire and <br />insure development of the site, in accordance with the purposes <br />and objectives of the Redevelopment Plan: and <br /> <br />WHEREAS, the Agency has prepared, reviewed and <br />considered a Summary Report setting forth the cost of the Agree- <br />ment to the Agency, the estimated value of the interests to be <br />conveyed determined at the highest uses permitted under the <br />Redevelopment Plan, and the purchase price, and made said <br />Summary Report available for public inspection in accordance <br />with the California Community Redevelopment Law; and <br /> <br />WHEREAS, pursuant to the provisions of the California <br />Redevelopment Law, the Agency and the City Council have held a <br />duly noticed joint public hearing on the proposed sale of the <br />Site and the proposed agreement; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY <br />REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: <br /> <br />1. The Agency has considered all the terms and conditions <br />of the proposed sale and hereby finds and determines that the <br /> <br />. <br /> <br />~ <br /> <br />2A <br />