HomeMy WebLinkAbout07/15/1986
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MINUTES
JOINT REGULAR MEETING
COMMUNITY REDEVELOPMENT AGENCY/CITY COUNCIL
JULY 15, 1986
The Joint Regular Meeting of the Community Redevelopment Agency and
the City Council was called to order by Chairman Griset at 5:45
P.M. in the Council Chambers, 22 Civic Center Drive, Santa Ana,
California. Following the Pledge of Allegiance to the Flag, the
roll was called:
PRESENT
ABSENT
John Acosta
John Coil
Daniel E. Griset
P. Lee Johnson
R. E. Luxembourger
Patricia McGuigan
Dan Young
Others in attendance:
David N. Ream, City Manager
Edward J. Cooper, City Attorney
Jan Perkins, Deputy City Manager/Operations
Rex Swanson, Deputy City Manager/Development Services
Cynthia Nelson, Acting Executive Manager/Economic Development
Robert Hoffman, Real Estate Manager
Richard Dominguez, Manager/Operations and Finance
Mellmary McNeely, Agency Secretary
EXECUTIVE SESSION
The Redevelopment Agency adjourned to Executive Session at 5:48
P.M. and returned at 5:53 P.M. with all members present.
The Agency Secretary read the following statement: "THE
COUNSEL REQUESTS THAT THE REDEVELOPMENT AGENCY RECESS TO
SESSION PURSUANT TO GOVERNMENT CODE SECTION 54956.8 TO
INSTRUCTION TO THE CITY'S NEGOTIATOR REGARDING NEGOTIATIONS
CLARA CLEM CONCERNING THE PURCHASE OF THE PROPERTY LOCATED AT
SOUTHWEST CORNER OF 5TH AND MAIN STREETS.
MINUTES
LEGAL
CLOSED
GIVE
WITH
THE
Agency Member Luxembourger pointed out that there was a
typographical error in the Minutes of May 5, 1986 in that he was
listed as R. ~ Luxembourger instead of R. ~ Luxembourger.
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It was then moved by Agency Member McGuigan, seconded by Agency
Member Luxembourger and carried unanimously (7:0) that the Minutes
for the Meetings of the Community Redevelopment Agency, held May 5,
1986 and June 17, 1986, be approved as received.
JOINT PUBLIC HEARING REGARDING AN AGREEMENT
PROPERTY WITH ALLAN FAINBARG AND SARA FAINBARG
REAL
FOR
SALE
OF
The Chairman announced that it was the time and place for the Joint
Public Hearing of the Community Redevelopment Agency and the City
Council of the City of Santa Ana for the proposed sale of property
by the Community Redevelopment Agency of the City of Santa Ana to
Allan and Sara Fainbarg. He stated that the property is located on
the northeast corner of 17th and Bush Streets. He then asked that
staff identify the property or issues and give the staff
recommendation.
The Real Estate Manager pointed out that, during the assemblage of
the Auto Mall site, it had been necessary for the Agency to acquire
several right-of-ways from the Santa Fe Railway Company, one of
which was a railroad spur line which served an industrial parcel
which was owned by Allan and Sara Fainbarg. He added that the
parcel was located on the southwest corner of Ritchey and Wilshire
Streets. He stated that Mr. Fainbarg had expressed an interest in
exchanging the value of the severance damages to his Ritchey Street
property for a piece of real property owned by the City of Santa
Ana, located at the northeast corner of 17th and Bush Streets,
which is adjacent to a property which he owns on the north and
east. The Real Estate Manager stated that staff has determined
that the value of the severance damages for the Fainbarg property
and the fair market value of the City-owned parcel have an equal
value of $54,000. He added that Allan and Sara Fainbarg have
agreed to accept the City-owned parcel, in lieu of severance
damages, and to hold the parcel at 17th and Bush as one parcel in
connection with their adjacent property.
In response to a query from the Chairman, the Agency Secretary
stated that there were no written communications.
The Chairman then stated that the Agency would like to hear from
the public, adding that anyone wishing to speak should step to the
podium, give their name and address and limit their remarks to five
minutes. There being no one present who wished to speak for or
against the proposed sale, the Chairman declared the public hearing
closed and called for questions from the Agency Members.
In response to a question from Agency Member McGuigan, the Real
Estate Manager stated that there would not be any City-owned
property acquired in this transaction since the Agency is using
this method of paying the Fainbargs for the loss of a railway
access.
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In response to a request from the Chairman for a motion, it was
moved by Vice Chairperson Johnson, seconded by Agency Member
Luxembourger and carried unanimously (7:0) that the Agency adopt
Resolution No. 86-40: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA APPROVING AN AGREEMENT FOR SALE OF
REAL PROPERTY BETWEEN THE AGENCY, THE CITY OF SANTA ANA, AND ALLAN
AND SARA FAINBARG.
JOINT PUBLIC HEARING REGARDING DEVELOPMENT AGREEMENTS
McKEE, WILLIAM VAN DEN HURK AND SANTA ANA DATSUN, INC.
WITH
JOHN
The Chairman announced that it was the time and place for the Joint
Public Hearing of the Community Redevelopment Agency and the City
Council of the City of Santa Ana for the proposed amendment to the
Lease, Option and Development Agreement between the Community
Redevelopment Agency of the City of Santa Ana and John McKee and
the proposed Disposition and Development Agreements between the
Community Redevelopment Agency and William Van Den Hurk and Santa
Ana Datsun, Inc. He stated that the project is bounded on the
north by Santa Fe Railroad, on the south by Edinger Avenue, on the
east by the Costa Mesa Freeway, and on the west by Ritchey Street.
He then asked that staff identify the property or issues and give
the staff recommendation.
The Acting Executive Director/Economic Development stated that
agreements were being presented for the Agency's consideration:
four
1)
An amendment to the Agreement with John McKee (Subaru) which
provides for the assignment by Thomas P. Lando1f, the original
signator, of his interest to John McKee who is the actual
dealer. The Parcel number and location have been revised from
a 2.5 acre site (Parcel 3) to a 3.2 acre site (Parcel 6), which
results in an increase in the purchase price for the site.
Disposition and Development Agreement with William Van Den Hurk
(Parcel 7) for the construction of a new Mazda facility. The
terms of the agreement reflect an installment purchase with a
downpayment of $200,000 and the remaining balance to be paid
within 10 years at 10% interest.
2)
3)
Disposition and Development Agreement with William Van Den Hurk
(Parcel 3) for the construction of a new Suzuki dealership.
The purchase price will be paid on an installment basis with a
$200,000 downpayment and the remaining balance to be paid
within 10 years at 10% interest.
4)
Disposition and Development Agreement with Santa Ana Datsun
which provides for a change in parcel location, which will
result in an increased purchase price. The purchase terms
include a $20,000 downpayment with quarterly installment
payments until the balance is due at the opening of business or
July 1, 1987, whichever is earliest.
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The Acting Executive Director/Economic Development stated that the
Mazda dealer would be the first to break ground, adding the other
dealerships: Suzuki, Chrysler, Volkswagen and Isuzu would follow
with Datsun breaking ground later in the year.
Chairman Griset stated that, since Santa Ana Datsun was a part of
this public hearing, he had a conflict of interest. He then asked
Vice Chairman Johnson to assume the Chair and left the Council
Chambers at 6:03 P.M. and returned at 6:15 P.M.
In response to questions from Agency Member Luxembourger, the City
Manager stated that the dealers were contractually bound to perform
and, should they not be able to fulfill their commitments, the
Agency would negotiate with their lenders to resolve the situation.
He added that he felt there would not be a problem since the Agency
had been working with these dealers for two years and all of them
now were obligated to move from their present locations to the Auto
Mall.
In response to further questions from Agency Member Luxembourger,
the City Manager stated that the configuration of the Auto Mall had
been worked out as a cooperative effort between the Agency's
consultant and architect and the dealers and their architects. He
added that, in his opinion, within a year or two, the Auto Mall
would have to be expanded.
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After further discussion, it was moved by
seconded by Agency Member Acosta and carried
Chairman Griset abstaining) that the Agency:
Agency Member Young,
unanimously (6:0
Adopt Resolution No. 86-42: A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING THE
ASSIGNMENT OF A LEASE OPTION AND DEVELOPMENT AGREEMENT FROM THOMAS
M. LANDOLF TO JOHN McKEE AND APPROVING AN AMENDMENT OF SAID
AGREEMENT (PARCEL 6).
Adopt Resolution No. 86-43: A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING A
DISPOSITION AND DEVELOPMENT AGREEMENT (PARCEL 3) BETWEEN THE AGENCY
AND WILLIAM VAN DEN HURK.
Adopt Resolution No. 86-44: A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING A
DISPOSITION AND DEVELOPMENT AGREEMENT (PARCEL 7) BETWEEN THE AGENCY
AND WILLIAM VAN DEN HURK.
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Adopt Resolution No. 86-45: A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING A
DISPOSITION AND DEVELOPMENT AGREEMENT (PARCELS 1 AND 2) BETWEEN THE
AGENCY AND SANTA ANA DATSUN, INC.
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JOINT PUBLIC HEARING - DOCUMENTATION AND CONTRACTS FOR CERTIFICATES
OF PARTICIPATION TO FINANCE DOWNTOWN PARKING FACILITIES
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Chairman Griset announced that it was the time and place for the
Joint Public Hearing of the Community Redevelopment Agency and the
City Council of the City of Santa Ana for the proposed lease of
properties by the Community Redevelopment Agency of the City of
Santa Ana to the City of Santa Ana, adding that the properties are
located at:
1) Southeast and southwest corners of 5th and Spurgeon
2) Southwest corner of 5th and Main
3) Northwest corner of 3rd and Spurgeon
4) Northwest corner of 3rd and Birch
The Chairman then asked that staff identify
issues and give the staff recommendations.
the properties and
The Manager of Operations and Finance pointed out that the Agency
Members had been given maps showing the locations of the sites and
the footprints of the four parking facilities. He added that the
size and locations of the proposed parking facilities were:
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750 space parking structure at 5th and French
479 space parking structure at 5th and Main
370 space parking structure at 3rd and Birch
150 space surface parking lot at Cor day Hotel Site
The Manager of Operations and Finance added that the financing
vehicle selected to fund the facilities is Certificates of
Participation which involves a lease-purchase arrangement between
the Redevelopment Agency and the City of Santa Ana and that the
City, as Lessee, must approve by resolution all of the same
documents that are approved by the Agency. He added that the
financing for these parking facilities would be a bond issue in the
$13 to $13.5 million range at a fixed-rate of interest with a
30-year term. He stated that if the bonds were marketed today they
would bear a 7 3/4% interest rate and, since it was hoped that they
could be marketed by July 22, 1986, they would probably bear an
interest rate in that range.
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In response to a query from the Chairman, the Agency Secretary
affirmed that there were no written communications.
The Chairman then asked any member of the public wishing to be
heard on this issue to step forward and give their name and address
and limit their comments to five minutes.
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Joe Gilmaker, of 307 West Third Street, addressed the Agency and
stated that, as a downtown businessman, he had been a part of the
assessment district that had been formed for the construction of
the Downtown Parking Garage in 1980. He added that he was not
opposed to the building of additional parking facilities in the
downtown but that he felt it would only be fair to relieve those
businessmen indebted to the assessment district if these proposed
new structures were to be built at no cost to the business
community.
Phil Charlton, of 225 North Broadway, addressed the Agency and
stated that he agreed completely with Mr. Gilmaker and asked that
the downtown business community be given relief from the existing
assessment district.
respond
the
The Chairman requested that the City Manager
questions raised by Mr. Gilmaker and Mr. Charlton.
The City Manager stated that staff agreed with Mr. Gilmaker and Mr.
Charlton that the situation must be equitable and added that a
staff report was being developed to try to ensure an equitable
solution to the downtown parking problem. He stated that there is
a possibility that the downtown parking structure, built in 1980,
could be refinanced and the assessment district abandoned, adding
that he expected to be able to make a full report to the Agency
within sixty days. He stated that he would be happy to meet with
Mr. Gilmaker and Mr. Charlton to review the progress staff is
making on this problem.
to
called
for
The Chairman then declared the public hearing closed and
questions from the Agency Members.
In response to questions by Agency Member McGuigan regarding the'
possibility of the Cor day Hotel being razed, the City Manager
stated that staff had discussed the possibility of the Cor day Hotel
being used as the Orange County Children's Museum or as a part of
the Fiesta Marketplace. He added that staff would certainly
recommend reuse of the hotel if it were feasible but, in the event
that nothing could be negotiated, it would be demolished.
In response to further questions from Agency Member McGuigan, the
City Manager affirmed that this bond issue would be confined to
those locations indicated and that there was no transferability.
He added that, if it were determined that a structure instead of
surface parking was to be placed at 3rd and Spurgeon Streets, it
would be necessary to structure another bond issue to cover this
cost.
In response to the Chairman's call for a motion, it was moved by
Agency Member Acosta, seconded by Agency Member Luxembourger and
carried unanimously (7:0) that the Redevelopment Agency:
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1)
Adopt Resolution No. 86-46: A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING
LEASE-PURCHASE, TRUST, ASSIGNMENT AND LOAN AGREEMENTS,
PRELIMINARY AND FINAL OFFICIAL STATEMENTS AND CONTRACT OF
PURCHASE PERTAINING TO THE SANTA ANA DOWNTOWN PARKING
FACILITIES PROJECT, AND AUTHORIZING EXECUTION THEREOF.
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2)
Approve an agreement with Rutan & Tucker as Bond Counsel
Rausher Pierce Refsnes, Inc. as Financial Advisor on
subject issue and authorize the execution thereof.
and
the
PUBLIC HEARING TO ADOPT RESOLUTION NO. 86-39 DIRECTING CONDEMNATION
OF PROPERTY WITHIN THE A-2 DEVELOPMENT SITE (307-309 WEST FOURTH
STREET)
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The Chairman announced that it was the time and place for the
Public Hearing on the issue of the Public Necessity to acquire by
condemnation a property identified as Assessor Parcel Number, as
Book 398, Page and Block 255, Parcel 21, for redevelopment
purposes. He asked that staff identify the property and the
project and comment on the factors and evidence necessitating the
condemnation action. He asked that staff set forth why the public
interest and necessity require the project; why the project is
planned or located in the manner that will be most compatible with
the greatest public good and the least private injury; why the
property sought to be acquired is necessary for the project; and,
whether or not the offer as required by Section 7267.2 of the
Government Code has been made to the owner of record, or any offer
has not been made because the owner cannot be located with
reasonable diligence.
The Real Estate Manager stated that he wished to incorporate the
staff memorandum on pages 54 and 55 as a part of his report. He
stated that this property is one of the last sites to be acquired
for the development of the A-2 site and that it is owned by Judy M.
Roelofs and is occupied by the Arrow Tux Rental Corporation. He
pointed out that, for the business to continue in this building, it
would be necessary to rehabilitate the building so that it would
conform to the requirements of the seismic ordinance, adding that,
in his opinion, this would be an imprudent investment since the
building is to be condemned as a part of the A-2 site. The Real
Estate Manager stated that staff was negotiating with the owner of
the property and felt that a settlement could be reached as soon as
the appraisal of their trade fixtures is complete.
In response to a query from the Chairman, the Agency Secretary
affirmed that there were no written communications.
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There was no response when the Chairman called for those members of
the public who wished to agree or disagree with this action to
address the Agency.
He then declared the public hearing closed and called for a motion.
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It was moved by Vice Chairman Johnson, seconded by Chairman Griset
and carried unanimously (7:0) that the Agency adopt Resolution No.
86-39: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF SANTA ANA AUTHORIZING AND DIRECTING THE CONDEMNATION OF
CERTAIN REAL PROPERTY FOR REDEVELOPMENT PURPOSES IN THE A-2
DEVELOPMENT SITE IN THE CITY OF SANTA ANA, STATE OF CALIFORNIA,
AND DECLARING THE PUBLIC NECESSITY THEREFOR. (307-309 WEST FOURTH
STREET)
PUBLIC HEARING TO ADOPT RESOLUTION NO. 86-41 DIRECTING CONDEMNATION
OF PROPERTY WITHIN THE FIFTH AND MAIN PARKING STRUCTURE SITE (A.P.
NO. 398-258-12)
The Chairman announced that it was the time and place for the
public hearing on the issue of the public necessity to acquire by
condemnation a property identified by Assessor Parcel Number, as
book 398, Page and Block 258, Parcel 12, for redevelopment
purposes. He asked staff to identify the property and the project
and to comment on the factors and evidence necessitating the
condemnation action. He requested that staff set forth why the
public interest and necessity require the project; why the project
is planned or located in the manner that will be most compatible
with greatest public good and the least private injury; why the
property sought to be acquired is necessary for the project; and,
whether or not the offer as required by Section 7267.2 of the
Government Code has been made to the owner of record, or any offer
has not been made because the owner cannot be located with
reasonable diligence.
The Real Estate Manager stated that he wished to incorporate the
staff memorandum on pages 67 and 68 as a part of his report. He
pointed out that the subject property is owned by Mrs. Clara E.
Clem and that a settlement at the appraised value of the property
had been reached but that staff wished to proceed with the
Resolution of Necessity in the event that any difficulty is
encountered in closing the escrow for the property.
In response a query from the Chairman, the Agency
responded that there were no written communications.
Secretary
The Chairman then stated that the Agency would like to hear from
those people who desired to speak in agreement or disagreement with
the subject condemnation action.
There being no one who wished to address the Agency, the Chairman
declared the public hearing closed. When he asked if the Agency
Members had any further questions or comments, there was no
response. He then called for a motion.
It was moved by Agency Member Acosta, seconded by Agency Member
McGuigan and carried unanimously (7:0) that the Agency adopt
Resolution No. 86-41: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
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AGENCY OF THE CITY OF SANTA ANA AUTHORIZING AND DIRECTING THE
CONDEMNATION OF CERTAIN REAL PROPERTY FOR REDEVELOPMENT PURPOSES IN
THE FIFTH AND MAIN PARKING STRUCTURE SITE IN THE CITY OF SANTA ANA,
STATE OF CALIFORNIA, AND DECLARING THE PUBLIC NECESSITY THEREFOR.
(A.P. NO. 398-258-12)
It was moved by Agency Member Luxembourger, seconded by Agency
Member Acosta and carried unanimously (7:0) that the Agency
authorize the Chairman to execute all necessary documents for
purchase of real property at the southwest corner of Fifth and Main
Streets, Santa Ana, Assessor Parcel No. 398-258-23, from Clara E.
Clem for the appraised value of $372,200, with the purchase price
to be due and payable upon demand of seller for a period of ten
years, and to accrue interest at the rate of 10% per year simple
interest, said interest due and payable in monthly installments.
TERMINATION OF CONTRACT FOR SALE FOR PRIVATE REDEVELOPMENT
OWNER PARTICIPATION; ASSESSOR PARCEL NUMBER 398-267-03
BUILDING)
AND FOR
(SANTORA
In response to a question from Agency Member McGuigan, the City
Manager stated that the Santora Building was foreclosed upon by the
beneficiary, Consolidated Capital Special Trust, under a Deed of
Trust. He added that the present owner is now in escrow to sell
the property and has requested that the terms and conditions of the
existing contract between the Agency and Henry Stotsenberg be
removed. He stated that staff was recommending this action to
facilitate the eventual rehabilitation of the Santora Building.
It was moved by Agency Member Acosta, seconded by Agency Member
Luxembourger and carried unanimously (7:0) that the Agency
authorize the Chairman of the Community Redevelopment Agency of the
City of Santa Ana to execute a Quitclaim Deed from the Community
Redevelopment Agency of the City of Santa Ana to Consolidated
Capital Special Trust relinquishing all rights, title and interest
in and to Assessor Parcel No. 398-267-03.
SALE OF CITY-OWNED LAND TO THE COMMUNITY REDEVELOPMENT AGENCY
It was moved by Agency Member McGuigan, seconded by Agency Member
Acosta and carried unanimously (7:0) that the Agency authorize the
Chairman of the Redevelopment Agency to execute all necessary
documents for purchase of certain real property identified as A. P.
Nos. 398-327-01, 07 and 08 and A.P. Nos 398-261-20 and 24, from the
City of Santa Ana.
LEASE AGREEMENT FOR OFFICE SPACE FOR WORLD TRADE
OF ORANGE COUNTY
CENTER
ASSOCIATION
In response to questions from Agency Member McGuigan, the City
Manager stated that the World Trade Center had been headquartered
in the Hutton Centre since its inception and had been an asset in
establishing the City of Santa Ana as the international trade
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center of the County and assisting with the formation of the
Foreign Trade Zone. He added that staff would like to see the
World Trade Center headquartered in the City of Santa Ana to afford
them the opportunity to get their program going in the next year.
He stated that, if they did not receive assistance, they would have
to go out of business or approach the Irvine Company.
After further discussion, it was moved by Agency Member Hart,
seconded by Agency Member Luxembourger and carried by a vote of 6:1
(Agency Member Acosta voting "No") that the Redevelopment Agency:
1 )
Authorize the Chairman of the Community Redevelopment Agency of
the City of Santa Ana to execute a lease agreement for office
space at 600 West Santa Ana Boulevard; and
Authorize the sublease of said office space to the World Trade
Center Association of Orange County for a period of one year on
a rent-free basis, and for a second year, based upon the
Association's financial ability to pay rent.
2)
ACQUISITION OF PROPERTY
NORTH OWENS DRIVE)
WITHIN THE REDEVELOPMENT PROJECT AREA (203
It was moved by Agency Member McGuigan, seconded by Agency Member
Acosta and carried unanimously (7:0) that the Agency authorize the
Chairman of the Community Redevelopment Agency of the City of Santa
Ana to execute all appropriate documents and deeds for acquisition
of the real property at 203 East Owens Drive from Marjorie F.
Struck.
PUBLIC IMPROVEMENT
DEVELOPMENT
REIMBURSEMENT
AGREEMENT
FOR
A-3
PARK
TOWER
After a brief discussion regarding the necessity for such a
reimbursement to a developer, it was moved by Agency Member
Luxembourger, seconded by Agency Member Hart and carried
unanimously (7:0) that the Agency approve and authorize the
Chairman to execute a Reimbursement Agreement between C.M. Plaza
American Diversified Capital Corporation and the Community
Redevelopment Agency for an amount not to exceed $50,000 for the
cost of higher standards of public improvements required by the
Agency.
AGREEMENTS FOR ARCHITECTURAL DESIGN SERVICES FOR PARKING STRUCTURES
AT THE NORTHWEST CORNER OF THIRD AND BIRCH STREETS AND THE
SOUTHWEST CORNER OF FIFTH AND MAIN STREETS
It was moved by Vice Chairman Johnson,
Luxembourger and carried unanimously
Agency:
seconded by Agency Member
(7:0) that the Redevelopment
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1)
Authorize staff to prepare an agreement for the
signature for architectural design services for
structure at the northwest corner of Third Street
Street with the firm of Parsons, Brinkerhoff,
Douglas, Incorporated in the amount of $75,000.
Chairman's
a parking
and Birch
Quade, and
2)
Authorize staff to prepare an agreement for the Chairman's
signature for architectural design services for a parking
structure at the southwest corner of Fifth Street and Main
Street with the firm of International Parking Design,
Incorporated in the amount of $62,700.
AGENCY AGENDA ITEMS - APPROVAL OF SECURITY ASSIGNMENT
HOUSING PROJECT
RIVERVIEW
FOR
The City Manager pointed out that that Riverview Community
Partnership was requesting that the Agency approve the proposed
assignment of their Owner Participation Agreement to California
First Bank for security purposes. He added that Riverview
Community Partnership would still be responsible for carrying out
the obligations of their agreement but that the lender felt that,
in the event of default by Riverview, they should have the ability
to complete the project.
It was then moved by Vice Chairman Johnson, seconded by Agency
Member McGuigan and carried unanimously (7:0) that the Agency adopt
Resolution No. 86-48: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA CONSENTING TO THE ASSIGNMENT, FOR
SECURITY PURPOSES, OF AN OWNER PARTICIPATION AGREEMENT FROM
RIVERVIEW COMMUNITY PARTNERSHIP TO CALIFORNIA FIRST BANK.
ADJOURNMENT
There being no further business to come before the Agency, the
meeting was adjourned at 6:53 P.M.
D.n~ .,he< .~
Chairman Executive Director
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