HomeMy WebLinkAbout1998-14 CRA
.
.
.
RESOLUTION NO. 98-14
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA APPROVING A
TERMINATION AGREEMENT WITH MACARTHUR PARTNERS
AND BRE PROPERTIES TERMINATING THE
DISPOSITION AND DEVELOPMENT AGREEMENT FOR A
PORTION OF THE MACARTHUR PLACE PROJECT.
WHEREAS, the Community Redevelopment Agency of the City of
Santa Ana (hereinafter referred to as the "Agency") is engaged in
activities necessary to execute and implement the Redevelopment
Plan for the South Main Redevelopment Project Area (the, "Project
Area"); and,
WHEREAS, on or about April 20, 1988 the Agency entered into a
certain Disposition and Development Agreement regarding a I 66
acre portion of the Project Area commonly known as MacArthur Place
(the "DDA"); and,
WHEREAS, WHEREAS, BRE Properties, Inc. a Maryland corporation
as a potential buyer ("BRE") , of a I 12 acre portion of the
Project(the "Site"), and MacArthur Partners, a California limited
partnership as owner ("MacArthur Partners") as successor in
interest to the original owner of the Project, have requested that
the Agency enter into that certain Termination Agreement, on file
with the Secretary of the Agency, whereby the parties seek to
terminate the DDA as to the Site, which request the Agency is
willing to honor.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS:
1. The Termination Agreement, on file with the Secretary
of the Agency, is hereby approved, and the Chairman of the Agency
is hereby authorized and directed to execute said agreement on
behalf of the Agency, with such non-substantive changes as may be
recommended by Agency Counsel.
ADOPTED this
day of
An¡¡nRt
, 1998.
17th
AYES:
MEMBERS: Franklin, Lutz, McGuigan, Pulido
NOES:
MEMBERS: None
ABSENT :
MEMBERS
Espinoza, !lorena, Richardson
~
irman "
...
ATTEST:
~i ilJ/hh-
CYN IA J. NE ON
Executive Director/Recording Secretary
.
.
.