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NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED <br />BY THE CITY COUNCIL OF THE CITY OF COLTON AS FOLLOWS: <br />Section 1. The City Council hereby finds that although <br />the consideration to the Agency from the sale of certain real <br />property in accordance with the Agreement does not equal or <br />exceed the fair market value of the property interest being <br />conveyed, the City Council is of the opinion that the <br />redevelopment of such real property and adjacent properties in <br />accordance with the Agreement is necessary to effectuate the <br />purposes of the Redevelopment Plan for the Project Area. <br />Section 2. The City Council hereby approves the <br />Disposition and Development/Owner Participation Agreement by and <br />between the Redevelopment Agency for the City of Colton and John <br />E. Dieterich and Gail A. Dieterich, which Agreement shall be in <br />substantially the same form as that attached to this Resolution <br />and incorporated herein by reference, with such non -material <br />changes and revisions, if any, as shall be recommended by Agency <br />Counsel and approved by the Executive Director. <br />adoption. <br />Section 3. This Resolution shall take effect upon <br />APPROVED AND ADOPTED this 1st day of November, 1988. <br />Mayo , City of C, t , <br />California <br />ATTEST: Z <br />City Clerk, City of Colton <br />- 2 - <br />