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RESOLUTION NO. R-92-89 <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF COLTON APPROVING DISPOSITION AND DEVELOPMENT <br />AGREEMENT BETWEEN THE REDEVELOPMENT AGENCY FOR <br />THE CITY OF COLTON, COLTON NONPROFIT SENIOR <br />HOUSING, INC., AND COOPERATIVE SERVICES, INC. <br />WHEREAS, in order to effectuate the provisions of the <br />Redevelopment Plans for the Cooley Ranch Project No. 4, the West <br />Valley Redevelopment Project, and the Mt. Vernon Corridor <br />Redevelopment Project (collectively the "Project Areas") for the <br />development of certain real property as a senior citizen rental <br />housing project and related improvements, the Redevelopment <br />Agency for the City of Colton (the "Agency") proposes to acquire <br />and resell certain property (hereinafter referred to as the <br />"Site") within the City of Colton to Colton Nonprofit Senior <br />Housing, Inc., a California nonprofit corporation pursuant to a <br />Disposition and Development Agreement between the Redevelopment <br />Agency for the City of Colton,/Colton Nonprofit Senior Housing, <br />Inc., a California nonprofit corporation and Cooperative <br />Services, Inc., a Michigan consumer cooperative (the <br />"Agreement"); <br />WHEREAS, before the Agency can enter into the Agreement <br />the City Council of the City of Colton (the "City Council") must <br />make certain findings and approve the Agreement in accordance <br />with Section 33433 of the Health and Safety Code; <br />WHEREAS, The City Council has reviewed and considered <br />the Agreement and has determined that the acquisition and sale of <br />