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HomeMy WebLinkAbout85-103REL: adg 8~6/85 RESOLUTION NO. 85-103 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 OWNER PARTIC- IPATION AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AND MAIN STREET PARTNERS FOR THE SALE OF CERTAIN REAL PROPERTY IN THE SANTA ANA REDEVELOPMENT PROJECT AND APPROVING THE SALE OF SAID REAL PROPERTY UPON THE TERMS AND CONDITIONS IN THAT AGREEMENT CONTAINED WHEREAS, the Community Redevelopment Agency of the City of Santa Ana is engaged in activities necessary to ex- ecute and implement the Redevelopment Plan for the Santa Ana Redevelopment Project; and WHEREAS, in order to implement the Redevelopment Plan, the Agency has agreed, subject to the approval of this Council, to sell certain real property in the Project Area, pursuant to the terms and provisions of that certain Owner Participation Agreement between the Agency and Main Street Partners, which is on file in the office of the Executive Director of the Agency, in which said real property (herein- after referred to as the "Site) is described; and WHEREAS, the Agreement contains all the provisions, terms, conditions and obligations required by state and local ~laws; and WHEREAS, Main Street partners possess the quali- fications 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 determined at the highest uses permitted under the Redevelopment Plan and the purchase price, and has made said Summary Report available for public inspection in accordance with the California Community Redevelopment Law; and RESOLUTION NO. 85%03 PAGE TWO WHEREAS, the Agency has found and determined that the Environmental Impact Report prepared for the Santa Ana Redevelopment Project is adequate for approval of the Owner Participation Agreement and that no additional Environmental Impact Report is necessary, and this Council likewise believes said Environmental Impact Report 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 con- ditions of the proposed sale and hereby finds and determines that the sale and the redevelopment of the site pursuant to the Owner Participation Agreement is the best interests of the City and the health, safety and welfare of its residents, and is in accord with the public purposes 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 Owner Participation Agreement is not less than the fair market value of the Site in accordance with covenants and conditions governing such sale; and that, although said consideration is less than the estimated value of the Site determined at the highest use permitted under the Redevelop- ment Plan, such lesser consideration is necessary to effec- tuate the purposes of the Redevelopment Plan. RESOLUTION NO. 85-103 PAGE THREE 3. The sale of the Site by the Agency to Main Street Partners upon the terms and conditions contained in the Owner Participation Agreement is hereby approved. ADOPTED this 20th day of August , 1985. ATTEST: //~ice C. Guy /-~/ "Clerk of the Cotfnci]k_/ Daniel E. Griset Mayor COUNCILMEMBERS: Griset Aye Acosta --~-ye Hart Aye Johnson Aye Luxembourger Aye McGuigan Absent Young Aye APPROVED AS TO FORM: ~i~Q~At~or~r