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<br />REQUEST FOR <br />COUNCIUAGENCY <br />ACTION <br />MEETING DATE: <br /> <br />~ <br />~ <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />JANUARY 18, 2005 <br /> <br />TITLE: <br /> <br />APPROVED <br />D As Recommended <br />D As Amended <br />D Ordinance on 1 st Reading <br />D Ordinance on 2nd Reading <br />D Implementing Resolution <br />D Set Public Hearing For <br /> <br />LOAN AGREEMENT WITH ORANGE <br />HOUSING DEVELOPMENT CORPORATION <br />AND AUTHORIZATION OF RELOCATION <br />PLAN <br /> <br />; OJÐ{k Y2LeMLiL <br /> <br />CITY MANAGER EXECUTIVE DIRECTOR <br /> <br />CONTINUED TO <br /> <br />FILE NUMBER <br /> <br />RECOMMENDED ACTION <br /> <br />CITY COUNCIL ACTION <br /> <br />1. <br /> <br />Recommend that the City Council: <br /> <br />a) <br /> <br />Direct the City Attorney to prepare a loan agreement with <br />Orange Housing Development Corporation for the acquisition of a <br />24 unit multi-family property located at 901 E. Sixth Street in <br />an amount not to exceed $1,300,000 and authorize the Executive <br />Director of the Community Development Agency or designee to <br />execute all required documents. <br /> <br />b) <br /> <br />Adopt a resolution approving the Relocation <br />residential property located at 901 E. Sixth Street. <br /> <br />Plan <br /> <br />for <br /> <br />COMMUNITY REDEVELOPMENT AGENCY ACTION <br /> <br />Direct the Agency General Counsel to prepare a loan agreement with Orange <br />Housing Development Corporation for the acquisition of a 24 unit multi- <br />family property located at 901 E. Sixth Street in an amount not to exceed <br />$2,607,500 and authorize the Executive Director of the Community <br />Development Agency or designee to execute all documents as necessary. <br /> <br />JT25K-1 <br />