HomeMy WebLinkAbout1981-122 CRA
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10/20/81
RESOLUTION NO. 81-122
A RESOLUTION OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF SANTA ANA AUTHORIZING
A BOND ISSUE FOR THE FUNDING œ A PERMANENT
LOAN FOR REHABILITATION OF PROPERTY LOCATED
AT 209-213 WEST FOURTH STREET AND MAKING
CERTAIN FINDINGS IN CONNECTION THEREWITH
WHEREAS, by Resolution No. 79-61, adopted November
5,1979, the Community Redevelopment Agency of the City of
Santa Ana adopted a Major Commercial Rehabilitation Program
and declared its intention to issue of bond or notes
pursuant to the Community Redevelopment Law or the Marks
Historical Rehabilitation Act of 1976 for the purpose of
providing financial assistance to developers and owners of
properties by funding permanent loans for rehabilitation of
said properties within a Designated Rehabilitation Area,
therein described; and
WHEREAS, in order to induce developers and owners
of property within the described Designated Rehabilitation
Area, the Community Redevelopment Agency of the City of
Santa Ana desires to take official action authorizing the
issuance of specified bonds to fund loans made for
rehabilitation of specified properties by developers and
owners.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS:
1. In accordance with the general requirements
set forth in Resolution Number 79-61, this Agency hereby
authorizes the issuance of a bond issue in an amount not to
exceed $1,000,000 for the purpose of providing financial
assistance to Joseph G. Elias and Ruth Elias by funding
permanent loans made for rehabilitation of the property to
be acquired by them at 209-213 West Fourth Street.
2. The proceeds of such issue bonds shall
include related and necessary issuance expenses,
administrative costs, reasonably required reserves and
interest payments.
3. Such issue of bonds shall be issued subject
to completion of issuance, sale and delivery proceedings and
other matters relating thereto to the full satisfaction of
the Agency.
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RESOLUTION NO. 81-122
PAGE TWO
4. It is hereby found and dete~ined that the
providing of financial assistance, as more particularly
described herein and in Resolution No. 79-61, is a
substantial inducement to the aforesaid developer or owner
to rehabilitate the aforedescribed properties, that said
rehabilitation will further the public purpose and goals of
this Agency and is for the public interest and benefit, and
that the aforesaid developer or owner has requested this
Agency to issue and sell its bonds for the purpose of
providing rehabilitation financial assistance to said
developer or owner by funding permanent loans made for
rehabilitation of the described properties.
ADOPTED this 2nd day of
1981, by the following vote:
November
AYES:
MEMBERS: Acosta, Bricken, Griset, Luxembourger,
McGuigan, Serrato
MEMBERS: Markel
NOES:
ABSENT:
N~
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CHAIRMAN
MEMBER:
ATTEST:
APPROVED AS TO FORM:
tJu-.:I ;J eøøp..
EDWARD J. COOPER
AGENCY LEGAL COUNSEL
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EXHIBIT A
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PARCELl:
The real property in the City of Santa Ana, County of Orange,
State of California, described as follows:
The East 20 feet of Lots 2, 3 and 6 in Block 13 of the Town
of Santa Ana, as shown on a map recorded in Book 2, Page 51
of Miscellaneous Records of Los Angeles County, California.
PARCEL 2:
The Westerly 35 feet of Lots 1 and 4 in Block 13 of the
Town of Santa Ana, as shown on a map recorded in Book 2,
Page 51 of Miscellaneous Records of Los Angeles County,
California.
PARCEL 3:
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A non-exclusive easement for private alley and incidental
purposes over a 15.00 foot wide strip of land more particularly
described as the East 7.5 feet of Lots 6,7 and 10 and the
West 7.5 feet of Lots 5, Band 9 of Block 13 in the Town of
Santa Ana, as shown on a map recorded in Book 2, Page 51 of
Miscellaneous Records of Los Angeles County, California.
Commonly known as 209 W. Fourth Street, Santa Ana, California.
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