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NOW, THEREFORE, BE IT RESOLVED, DETERMINED AND ORDERED BY THE CITY <br />COUNCIL OF THE CITY OF COLTON AS FOLLOWS: <br />Section 1. The City Council hereby finds that although the <br />consideration to the Agency from the sale of certain real property in <br />accordance with the Agreement is less than the fair market value of the <br />property interest being conveyed, the City Council is of the opinion <br />that the development of such real property in accordance with the <br />Agreement is necessary to effectuate the purposes of the Redevelopment <br />Plan for the Project Area. <br />Section 2. The City Council hereby approves the Disposition and <br />Development Agreement by and between the Redevelopment Agency for the <br />City of Colton and Gatlin/Berger Developments, Inc., which Agreement <br />shall be in substantially the same form as that attached to this <br />Resolution and incorporated herein by reference, with such non -material <br />changes and revisions, if any, as shall be recommended by Agency Counsel <br />and approved by the Executive Director of the Agency. <br />Section 3. This Resolution shall take effect upon adoption. <br />ATTEST: <br />�d Q,J <br />City Clerk, City of Colton <br />Mayor, City of C to lifornia <br />04, <br />