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RESOLUTION NO. R-31-90 <br />RESOLUTION OF THE CITY COUNCIL OF <br />THE CITY OF COLTON APPROVING <br />DISPOSITION AND DEVELOPMENT AGREEMENT <br />BETWEEN THE REDEVELOPMENT AGENCY <br />FOR THE CITY OF COLTON AND K -MART CORPORATION <br />(K -MART STORE #3983) <br />WHEREAS, in order to effectuate the provisions of <br />the Redevelopment Plans for the Cooley Ranch Project No. 4 <br />(the "Project Area"), for the development of certain real <br />property as a K -Mart Store and related improvements, the <br />Redevelopment Agency for the City of Colton (the "Agency") <br />proposes to acquire and resell certain property (hereinafter <br />referred to as the "Site") within the City of Colton to <br />K -Mart Corporation, pursuant to a Disposition and <br />Development Agreement between the Redevelopment Agency for <br />the City of Colton and K -Mart Corporation, (the <br />"Agreement"); <br />WHEREAS, before the Agency can enter into the <br />Agreement the City Council for the City of Colton (the "City <br />Council") must make certain findings and approve the <br />Agreement in accordance with Section 33433 of the Health and <br />Safety Code; <br />WHEREAS, the City Council has reviewed and <br />considered the Agreement and has determined that the <br />acquisition and sale of the real property in accordance with <br />the Agreement is in the best interests of the citizens of <br />