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Agreement for Acquisition of <br />Real Property and Escrow Instructions <br />for 720 E. Sixth Street <br />July 3, 2006 <br />Page 2 <br />The property located at 720 E. Sixth, shown on Exhibit 1, encompasses <br />6,250 square feet of land and contains a 1,050 square foot single - family <br />residence. Development of this property will be in compliance with the <br />Agency's replacement and inclusionary housing obligations and will be <br />designed in a manner that will enhance the surrounding neighborhood. The <br />ultimate affordability and development of this property has not yet been <br />fully determined. <br />FISCAL IMPACT <br />Funds are available in the Housing Set -Aside Fund, Santa Ana Boulevard <br />Development Plan account (account no. 507- 936 -6611, project no.7095). <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />6AStephen G arding Francisco Gutierrez <br />Executive 'Director Executive Director <br />Community Redevelopment Agency Finance & Management Services Agency <br />SGH /SLB /mlr <br />H: \ACTIONS \2006 CRA \AgreeAcq 720ESixthStreet 7- 3- 06.doc <br />4 -2 <br />