11/18/1986 - Laserfiche WebLink

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After Agency Member Young's arrival at 6:45 P.M., the Chairman declared the Joint Public Hearing of the Community Redevelopment Agency and the City Council of the City of Santa Ana for the proposed sale of property known as the La Bonita site by the Community Redevelopment Agency of tlÞthe City of Santa Ana to Kirk S. Evans, Inc., adding that the site is 4.81 acres of land located at 1421 La Bonita Street, just south of Westminster Avenue. He then asked staff to identify the property or issues and give the Commission's recommendation as well as the staff's comments. Project Manager Patti Nunn stated that Kirk S. Evans, Inc. was awarded an Exclusive Right to Negotiate for the La Bonita site on August 19, 1986 and that a Disposition and Development Agreement had been negotiated for the development of the 4.81 acre site located south of Westminster Avenue between Euclid and Newhope Streets. She pointed out that the La Bonita site was originally purchased from the Garden Grove Unified School District by the City to be used as a park but that, after passage of Proposition 13, funds were not available to develop the site and the decision was made to sell the land to the Agency for the appraised value, with the understanding that the Agency would market the site for housing development and that the proceeds of the sale would go toward the improvement of Rosita Park. She stated staff had worked diligently with Mr. Evans to finalize the proposal now being submitted for approval, adding that this proposal called for the development of 48 single-family detached homes on individual lots averaging 3,000 square feet, that the development is situated on a tlÞprivate street with a loop configuration that measures 36 feet wide except at the southerly tip where it measures 32 feet wide, and that all the units are two stories and feature three bedrooms. She stated that the purchase price of the land to be paid by the developer is $18,000 a unit for a total of $864,000 and that construction on the project will begin within 90 days of conveyance of the site which is expected to occur in January, 1987. She pointed out that the developer has secured financing from Charter Savings Bank, who has provided an Offering Letter, dated July 21, 1986, confirming a loan commitment through 12:00 noon December 31, 1986. The Project Manager stated that Mr. Evan's proposal was presented to the Community Redevelopment Commission at their Meeting of November 4, 1986 and that the Commission recommended that the Redevelopment Agency: 1) Approve a Disposition and Development Agreement with Kirk S. Evans, Inc. for the La Bonita site and authorize the Chairman to execute the necessary documents; and 2) approve the conceptual development plans proposed by Kirk S. Evans, Inc. for the site. She then introduced Mr. Kirk Evans for further comment on his proposed development. The Chairman and Members of the Agency agreed that they did not feel it was necessary for them to look at a slide presentation which Mr. Evans ~ad available in Council Chambers. Mr. Evans stated that he wished to thank the Agency staff who had given him great support and enabled him to bring back a proposal which is, in his opinion, superior to the one first presented to the Agency. He pointed out that the square footage of the project had been increased by eliminating the two-bedroom model 4