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<br />. <br /> <br />I. <br /> <br />INTRODUCTION <br /> <br />The community Redevelopment Agency of the city of Santa Ana <br />(the "Agency") has prepared this report pursuant to sections 33445 <br />and 33679 of the California Community Redevelopment Law (Health and <br />Safety Code sections 33000 et seq.). <br /> <br />This report sets forth certain information regarding the <br />proposed expenditure of tax increment revenues or other funds from <br />the Santa Ana South Main Street Redevelopment project Area (the <br />"South Main Project Area") for the purpose of acquiring and <br />rehabilitating two properties located in the city of Santa Ana <br />Redevelopment project Area (the "Central city project Area"). <br /> <br />The two properties (collectively, the "properties") are: <br /> <br />(1) <br /> <br />~. <br /> <br />207 West Second Street, also known as the Southern <br />Counties Gas Company building (the "Gas company <br />Property"). The Gas company Property is currently <br />owned by the Resolution Trust company. It has been <br />vacant for over three years. The Gas company <br />Property is blighted because it has no on-site or <br />off-site parking, is not accessible directly by <br />car, and is not easily visible from nearby streets. <br />These conditions have contributed to the difficulty <br />in keeping tenants in the building. <br /> <br />(2) <br /> <br />200 West Second street, also known as the Grand <br />Central Building (the "Grand central property"). <br />The Grand Central Property has a mixture of resi- <br />dential and commercial spaces, many or which are <br />vacant. Like the Gas company property, the Grand <br />Central property has no nearby parking, is diffi- <br />cult to access by car and is not easily visible <br />from nearby streets. <br /> <br />The Agency desires to develop an "Artists' village" in the <br />Central city Project Area, comprised 9f the properties and other <br />facilities adjacent to the Properties. After rehabilitation, the <br />Agency will retain ownership of the Properties and lease them to <br />various users. In particular, the Agency intends to lease the <br />Grand Central Property to California State University at Fullerton <br />at a nominal rent for use as an extension campus for its Art <br />Department. <br /> <br />The Village is an artists' community with studio and live/ <br />work space in renovated and newly constructed buildings. Studio <br />space is shell space from 800 square feet to 1200 square feet which <br />will be in basements, first, second or third floors of buildings. <br />Live/work space is an area comprised of one or more rooms which <br />include cooking space, sanitary facilities and working space. <br />Retail space will provide services to the artists' community and <br /> <br />. <br /> <br />3 <br /> <br />2 <br /> <br />26 <br />