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FULL PACKET_09-06-2016
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FULL PACKET_09-06-2016
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redevelopment plan, then the Authority shall provide as part of the summary an explanation of <br />the reasons for the difference. <br />This report outlines the salient parts of the Purchase and Sale Agreement (Agreement) to be entered <br />into by and between the Housing Authority of the City of Santa Ana (Authority) and Our Lady of <br />Guadalupe Church (Delhi). This report is being prepared due to the fact that tax increment monies from <br />the former Redevelopment Agency of the City of Santa Ana (RDA) were used to acquire the real <br />property which is the subject of the Agreement. <br />II. SUMMARY OF THE PROPOSED AGREEMENT <br />Pursuant to California Health and Safety Code Section 33433(a)(2)(B), the Housing Authority of the City <br />of Santa Ana, acting as the Successor Agency to the former Redevelopment Agency of the City of Santa <br />Ana makes available the summary of the proposed sale of 542 E. Central Ave, Santa Ana, CA to Our Lady <br />of Guadalupe Church (Delhi). <br />(i) The proposed sale of 542 E. Central Ave will cost the Agency the normal and typical escrow <br />costs associated with a sale of a property. The proceeds from the sale will be used solely for <br />affordable housing development within the City of Santa Ana. <br />(ii) Fee Simple Market Value Conclusion "As Is": $270,000 (Overland, Pacific & Cutler, Inc, <br />Appraisal dated August 17, 2016) <br />(iv) <br />Estimated Value of Interest to be conveyed or leased, determined at the highest and best <br />uses permitted under the plan: $270,000 (Fee Simple Market Value Conclusion at its <br />Highest and Best Use; Overland, Pacific & Cutler, Inc Appraisal dated August 17, 2016) <br />Estimated Value of the interest to be conveyed determined at the use and with the <br />conditions, covenants, and development costs required by the sale: $270,000 (Fee Simple <br />Market Value Conclusion with Deed Restriction; Overland, Pacific & Cutler, Inc Appraisal <br />dated August 17, 2016) <br />i. Sale to Our Lady of Guadalupe Church (Delhi) is required that the parcel does <br />not remain vacant or used for parking. <br />(v) Elimination of Blight: The proposed sale of the 542 E. Central Avenue consists of one vacant <br />parcel, which was purchased by the Agency in April 2006. The proposed parcel is located <br />directly across the street from Our Lady of Guadalupe Church (Delhi) with the surrounding <br />land uses include residential uses and community facilities. The proposed sale will assist in <br />the elimination of blight by assisting a local neighborhood church to accommodate its <br />growing population and will assist in the development and reconstruction of community <br />facility improvements. The sale will help meet two of the Agency's original Redevelopment <br />Plan goals: (1) Eliminate physical blight, and (2) Encourage uniform and consistent land use <br />patterns. <br />
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