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7/5/84
RESOLUTION NO. 84-101
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SANTA ANA MAKING CERTAIN FINDINGS WITH RESPECT
TO THE CONSIDERATION TO BE RECEIVED BY THE
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF
SANTA ANA PURSUANT TO AN AGREEMENT BETWEEN THE
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF
SANTA ANA AND KAUFMAN AND BROAD LAND COMPANY
FOR THE SALE OF CERTAIN PROPERTY AND APPROVING
THE SALE OF SAID REAL PROPERTY UPON THE TERMS
AND CONDITIONS CONTAINED IN THAT AGREEMENT
WHEREAS, the Agency has agreed, subject to the
approval of this Council, to sell certain real property
pursuant to the terms and provisons of that certain "Agree-
ment for the Sale and Development of Real Property" between
the Agency and Kaufman and Broad Land Company, which is on
file in the offices of the Agency, in which said real prop-
erty (hereinafter referred to as the "Site") is described;
and
terms,
local
WHEREAS, the Agreement contains all the provisions,
conditions and obligations required by state and
laws; and
WHEREAS, Kaufman and Broad Land Company possess
the qualifications and financial resources necessary to
acquire and insure development of the Site, in accordance
with the purposes and objectives of the Redevelopment Plan;
and
WHEREAS, the Agency has prepared, and the City
Council has reviewed and considered a Summary Report setting
forth the cost of the Agreement to the Agency, the estimated
value of the interests to be conveyed and the purchase price,
and has made said Summary Report available for public in-
spection in accordance with the California Community Redevel-
opment Law; and
RESOLUTION NO. 84-101
PAGE TWO
WHEREAS, the Agency has approved a Negative Declara-
tion, and this Council believes said Negative Declaration to
be adequate for its use in approving the terms and conditions
of sale of the Site; and
WHEREAS, pursuant to the provisions of the California
Redevelopment Law, the Agency and the City Council have held a
duly noticed joint public hearing on the proposed sale of the
site and the proposed Agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF SANTA ANA, AS FOLLOWS:
1. The City Council has considered all terms and
conditions of the proposed sale and hereby finds and determines
that the sale and the redevelopment of the Site pursuant to the
Agreement for the Sale and Development of Real Property is in
the best interests of the City and the health, safety and wel-
fare of its residents, and is in accord with the public pur-
poses and provisions of the applicable state and local laws.
2. The City Council hereby finds and determines
that the consideration for the sale of the Site pursuant to
the said Agreement is less than the fair market value of the
Site in accordance with covenants and conditions governing
.such sale~ but that such lesser consideration is necessary to
effectuate the development of the Site in accordance with the
Agreement.
3. The sale of the Site by the Agency to Kaufman
and Broad Land Company upon the terms and conditions contained
in the said Agreement is hereby approved.
ADOPTED this ~lst day of August , 1984.
ATTEST:
~C ~enr~eo fC ' t hGeUYcou/n c i 1 ~
~.W.//~xembourger ~,/
May~
COUNCILMEMBERS:
Luxembourger ~t
Griset
Acosta ~
Bricken ~
Johnson Y~
McQuigan -~t
Y o u ng Aye
APPROVED AS TO FORM:
~]-dwar~ J.~._~oper
City Attorney