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<br />" <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />5. <br /> <br />Commission Recommendation: Recommend to the Redevelop- <br />ment Agency that staff pursue developing a special <br />financing package for the Spurgeon Building subject <br />to the following conditions: <br /> <br />1. <br /> <br />That the aggregate of all private and Agency <br />generated loans or grants not exceed 80% of <br />after rehab value as determined by an appraiser <br />satisfactory to the Agency. <br /> <br />2. <br /> <br />That the property owner deposit, in an escrow <br />or trustee account, funds sufficient to increase <br />his equity position to at least 20% of the <br />after rehab appraised value. <br /> <br />3. <br /> <br />That the property owner terminate all legal <br />actions, in which he is the plaintiff, relating <br />to the Spurgeon Building and that the City and <br />Redevelopment Agency be held harmless from any <br />and all legal actions related to the rehabilitation <br />of the Spurgeon Building. <br /> <br />4. <br /> <br />That the property owner provide full disclosure <br />of all income derived from and expenses related <br />to the operation of the Spurgeon Building since <br />becoming owner of record. <br /> <br />5. <br /> <br />That the property owner agree to employ Lee <br />Saylor, Inc. as cost consultant engineer on the <br />project, and that all plans and specifications <br />be submitted to Lee Saylor, Inc. and to the <br />Redevelopment Agency for approval prior to <br />initiating construction contracts or rehabili- <br />tation of the subject building. <br /> <br />F. <br /> <br />REVOLVING LOAN PROGRAM - THE JACKMAN BUILDING <br /> <br />Recommendation: Adopt Resolution 80-83: A RESOLUTION <br />OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF <br />SANTA ANA AUTHORIZING THE CHAIRMAN OF THE AGENCY TO <br />EXECUTE AN AMENDMENT TO THE REVOLVING LOAN AGREEMENT <br />BETWEEN THE AGENCY AND SYLVIA JACKMAN, ET AL. <br /> <br />Commission Recommendation: <br /> <br />Not applicable. <br /> <br />EXECUTIVE SESSION - to discuss legal matters. <br /> <br />PUBLIC HEARINGS <br /> <br />6. <br /> <br />A. <br /> <br />PUBLIC HEARING TO ADOPT RESOLUTION DIRECTING CONDEMNATION <br />OF PROPERTY WITHIN THE SANTORA PARTNERS DEVELOPMENT SITE <br /> <br />Recommendation: Adopt Resolution 80-87: A RESOLU- <br />TION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br />CITY OF SANTA ANA AUTHORIZING AND DIRECTING THE <br />CONDEMNATION OF CERTAIN REAL PROPERTY FOR REDEVELOPMENT <br />PURPOSES IN THE SANTORA PARTNERS DEVELOPMENT SITE IN <br />THE CITY OF SANTA ANA, STATE OF CALIFORNIA, AND <br />DECLARING THE PUBLIC NECESSITY THEREFOR. <br /> <br />Commission Recommendation: <br />condemnatlon. <br /> <br />Adopt Resolution for <br /> <br />4. <br />