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<br />. <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />4. <br /> <br />2. <br /> <br />That the Executive Director be authorized to <br />attempt, in good faith, to negotiate an Owner <br />Participation Agreement pursuant to said <br />negotiation agreement; and <br /> <br />3. <br /> <br />Recommend to the Agency that the Exclusive <br />Negotiation Agreement between the Agency and <br />Federated be for a period not to exceed 90 <br />days. At the end of that 90 days, staff is <br />to bring back to the Commission and Agency a <br />proposed Owner Participation Agreement between <br />the Agency and Federated. <br /> <br />D. <br /> <br />ENVIRONMENTAL FINDINGS RELATED TO THE PROPOSED SANTA <br />ANA DOWNTOWN PUBLIC PARKING FACILITY <br /> <br />Recommendation: Adopt Resolution 80-29: A RESOLU- <br />TION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE <br />CITY OF SANTA ANA MAKING ENVIRONMENTAL FINDINGS <br />NECESSARY FOR THE PROPOSED SANTA ANA DOWNTOWN <br />PUBLIC PARKING FACILITY PROJECT IN THE SANTA ANA <br />REDEVELOPMENT PROJECT. <br /> <br />Commission Recommendation: <br /> <br />Not applicable. <br /> <br />REPORTS <br /> <br />A. <br /> <br />SB-99 FINANCING FOR COMMERCIAL MORTGAGES <br /> <br />Recommendation: Authorize staff to proceed with <br />the implementation of an SB-99 financing program <br />for commercial development and solicit necessary <br />proposals from bond writers, bond attorneys and <br />financial consultants. <br /> <br />Commission Recommendation: Recommend that Agency <br />author~ze staff to proceed with the implementation <br />of an SB-99 financing program for commercial devel- <br />opment. <br /> <br />B. <br /> <br />DEVELOPMENT OF A REVOLVING LOAN FUND TO OFFSET COSTS <br />RELATED TO COMMERCIAL REHABILITATION <br /> <br />Recommenda t ion: <br /> <br />1. <br /> <br />Approve the proposed Revolving Loan Program <br />and authorize its implementation by the Commu- <br />nity Redevelopment Commission. <br /> <br />2. <br /> <br />Authorize use of $100,000 in Agency funds to <br />seed the Program. <br /> <br />commission Recommendation: Recommend to Agency <br />that staff be authorized to proceed with the devel- <br />opment of a revolving fund to offset costs related <br />to Major Commercial Rehabilitation. <br /> <br />-5- <br />