Community Redevelopment Agency (43)

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J�bk, Executive Directc)r, d,,,,y Redevelopment & Housin DATE' 10-11-79 P _1 U 11J, 1, 4228 �� W3i'JEC1" EXCHANGE OF PROPERTY IN KEISER DEVELOPMENT PROJECT A P 01" 9 '1 IE 'm C' PAE(,0111111L J'��I)EU PC I I UN i I Authorize the execution of an' agreement entitled "AGREEMENT BETWEEM. 'I'l-M COMMU- N I'l " 7Y REDEVE.T..,OPMZ1qT AGENCY OF THE CITY OF SANTA ANA AND THE CITY OF SANTA ANA FOR FXCHANGE OF PROPERTY". BACKGROUND: ,i,he Redevelopment Agency and City Council, at their meetings of January 15, 1979, approved an Owner Participation Agreement with Steven J. and Paula B, Keiser for the development of property fronting on Fourth Street for a dis- tance of 275 feet easterly from Ross Street and for a parking area fronting Third Street for a distance of 150 feet easterly from Ross Street. In order to provide the parking portion of the sales parcel, which is cur- rently owned by the City and utilized for senior citizen parking, the Agency agreed to acquire privately owned property at the northwest corner of Third and Birch and improve it to City parking lot standards for exchange with the City,, I7-1he Redevelopment Agency and City Council., at their meetings of September 17, 1979 amended the Owner Participation Agreement with Dr. Keiser to provide [or the sale of approximately 6,000 additional square feet for parking purposes. The Agency has acquired the necessary exchange property, and will iTT-1prove it to City parking lot standards prior to August 31, 1980. In addition, as part of this project, the Agency will improve an additional 8,925 square feet owned by the City which will complete the improvement of tile entire parking area between Ross and Birch Streets. An agreement covering this exact terms and conditions of the exchange has been prepared by the City Attorney and is brought to you for approval. The agree- ment will also be presented to the Redevelopment Agency at its meeting of October 15, 1979 for a similar action. VIM