HomeMy WebLinkAbout081604 AA Real Prop Escrow Inst 809 811 Brown StREQUEST FOR N
AGENCY ACTION Ed°"°°°'s°
AGENCY BOARD MEETING DATE:
AUGUST 16, 2004
TITLE
AGREEMENT FOR ACQUISITION OF REAL
PROPERTY AND ESCROW INSTRUCTIONS
FOR 809 and 811 BROWN STREET
RECOMMENDED ACTION
AGENCY SECRETARY USE ONLY:
APPROVED
❑
As Recommended
❑
As Amended
❑
Ordinance on 1" Reading
❑
Ordinance on 2 "d Reading
❑
Implementing Resolution
❑
Set Public Hearing For_
CONTINUED TO
Ia14:8► IN] AIMA:
The Community Redevelopment and Housing Commission submits without
recommendation the staff recommendation to direct the Agency General
Counsel to prepare and authorize the Executive Director to execute an
agreement for the acquisition of real property and escrow instructions
acquiring the real property located at 809 and 811 Brown Street, Santa
Ana, and identified as Assessor Parcel Number 398 - 312 -10 from Grand
Rapids LLC for the amount of $475,000 plus normal escrow and closing
costs.
AGENCY MOTION REQUIRED
COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION ACTION
At its Regular Meeting of August 3, 2004, the motion to adopt staff's
recommendation ended with a 3:3 tie vote (Rodriguez, Sarmiento, Turner
noes; Betancourt and Bustamante absent).
DISCUSSION
The Community Redevelopment Agency has an obligation to replenish the
City's supply of affordable housing in order to mitigate inclusionary
housing obligations and the displacement of affordable housing as a
result of the Bristol and McFadden Streets widening projects. The
housing must be provided within the next three -to -four years; however,
there are very few vacant residential sites available within the City on
Agreement for Acquisition of Real
Property and Escrow Instructions
for 809 and 811 Brown Street
August 16, 2004
Page 2
which to develop housing. In addition, the City must meet its
inclusionary housing obligations that are arising from development
occurring throughout the City in other project areas. Therefore, it is
essential to purchase infill residential properties as they become
available in order to produce additional housing. The purchase price of
$475,000 for this property represents the current fair market value for
properties within this area of the City.
The subject property, shown on Exhibit 1, encompasses 4,200 square feet
of land and contains a duplex residence totaling 1,665 square feet in
size. Development of this property will be in compliance with the
Agency's replacement and inclusionary housing obligations and will be
designed in a manner that will enhance the surrounding neighborhood. The
subject property is within the boundaries of the specific plan currently
being prepared for development of a new residential neighborhood in the
area bounded by French Street, Civic Center Drive, Santiago Street and
Third Street. Attached as Exhibit 2 is a map of the area depicting this
and other Agency -owned properties.
FISCAL IMPACT
Funds are available in the Housing Set -Aside fund, Santa Ana Boulevard
Development Plan account (account no. 504 - 936 -6611, project no. 7095).
Executive Director
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APPROVED AS TO FUNDS AND ACCOUNTS
J ist"
Rod R. Coloma
Executive Direc or i J
Finance & Management Services Agency
6TH ST.
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809 & 811 BROWN STREET
Exhibit 1
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SANTA ANA BOULEVARD
SPECIFIC PLAN
® Agency Owned Properties
Subject Site
Exhibit 2
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