Item 03 - Joint Public Hearing – Resolution and Purchase and Sale Agreement for Acquisition of Real Property for Park Space

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Joint Public Hearing – Resolution and Purchase and Sale Agreement for Acquisition of Real Property for Park Space September 6, 2022 Page 2 2 9 3 3 The Successor Agency properties are located in a “park gap” area. In June 2022, the City acquired three properties adjacent to the three Successor Agency properties for park space. The newly acquired City properties (0.38 acres), combined with the Successor Agency properties (0.27 acres), would provide a new walkable 0.65-acre neighborhood park to serve four adjacent neighborhoods. (Exhibit 4) The City may purchase the three Successor Agency properties upon Countywide Oversight Board and the Department of Finance approval of the sale. The purchase price of $598,000 was established by an appraisal conducted on April 29, 2022. Successor Agency The City of Santa Ana adopted an ordinance in 1973 to create a Redevelopment Agency. Throughout the years, the Community Redevelopment Agency (RDA) of the City of Santa Ana completed numerous projects to eliminate blight, spur economic growth, funded construction of affordable housing projects, and provided infrastructure and community facility improvements within the defined project areas and through this process acquired real property for future development. On February 1, 2012, in accordance with the Dissolution Act and the California Supreme Court’s decision in California Redevelopment Association v. Matosantos, Case No. S194861, the RDA was dissolved and the City began to serve as the “Successor Agency.” The City Council serves as the governing body of the Successor Agency under the Dissolution Act as amended by Assembly Bill (AB) 1484, to administer the enforceable obligations of the Agency and otherwise unwind the Agency’s affairs. The Oversight Board to the Successor Agency has oversight with respect to the Dissolution process, including final review and approval of the Long Range Property Management Plan (LRPMP). The Oversight Board has fiduciary responsibilities to holders of enforceable obligations and to the taxing entities that benefit from distribution of property tax and other revenue. As of June 30, 2018, the Orange County Auditor Controller is overseeing this function. The three properties identified by the City for park space are identified in the LRPMP for disposition. The Successor Agency may dispose of these properties after authorization from the Oversight Board and the Department of Finance. Approval of the resolution will allow staff to present the sale of the properties to the Oversight Board and the Department of Finance for Authorization. Once authorized, the Successor Agency may proceed with the sale of the properties to the City and remit the proceeds to the Orange County Auditor Controller for distribution amongst taxing entities. Notice of the time and place for the public hearing was published in the OC Register on August 23, 2022 and August 30, 2022, once a week for two weeks in newspaper of general circulation, pursuant to Health and Safety Code Section 33431.