60A - PROPERTY DISPOSITION POLICY

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assets to be employed for other purposes, the City and its residents can benefit from private and public improvements which provide property tax revenue and economic development opportunities, support non -City public uses such as schools, or support uses that provide substantial community benefits, and positively impact the health, wellbeing, and livelihoods of City residents, or opportunities for neighborhood beautification improvements. It is important to note that this Real Property Disposition Policy covers real property assets and interests of the City of Santa Ana and the Successor Agency to the Santa Ana Community Redevelopment Agency, but does not cover the real property assets and interests of the City of Santa Ana Successor Housing Agency, nor those of the City of Santa Ana held for affordable housing development purposes ("Housing Properties"). Disposition of Housing Properties is instead covered by the Affordable Housing Funds Policies and Procedures, published by the Housing Division of the Community Development Agency of the City, approved by the Santa Ana City Council on March 20, 2018. The City's basic guiding policy is twofold: First, it is to optimize the sale price or lease rental income from disposition of City -owned real estate assets and interests. Optimized sales price or lease/rental income shall be based upon a current appraisal with a date of valuation not more than one (1) year prior to the date of City Council approval of any agreement to dispose of the real property. Subject to any limitationswhich may derive from the source of funds used to acquire a property, the following factors potentially influence a disposition decision and will be considered by the City in addition to the basic guiding policy: 1.) the effect of prevailing economic conditions and market trends on the appraisal conclusion of value, and: 2.) the estimated value of any special benefits that may accrue from a sale, lease, or other agreement for use. Second, the City recognizes that it plays an important role in stewarding publicly -owned real estate assets and interests in a way that serves the City's Vulnerable Residents, meaning those who are at -risk of or experiencing homelessness, displacement, unemployment or underemployment, low-wage jobs, poor health, and harmful environmental impacts. The City shall prioritize land disposition or leasing that provides substantial Community Benefits to City residents, especially its Vulnerable Residents. Community Benefits means the following: 1.) Affordable housing, with a focus on community -controlled, permanently affordable housing, for example a community land trust, 2.) Affordable, healthy food retail, 3.) Community health clinics, 4.) Renewable energy infrastructure, 5.) Public transportation, 6.) Green space, parks, and recreation centers, 7.) Affordable childcare, and 8.) Youth and senior facilities and services, and 60A-24