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<br />. <br /> <br />. <br /> <br />. <br /> <br />It was then moved by Agency Member McGuigan, seconded by Agency <br />Member Luxembourger and carried unanimously (7:0) that the Minutes <br />for the Meetings of the Community Redevelopment Agency, held May 5, <br />1986 and June 17, 1986, be approved as received. <br /> <br />JOINT PUBLIC HEARING REGARDING AN AGREEMENT <br />PROPERTY WITH ALLAN FAINBARG AND SARA FAINBARG <br /> <br />REAL <br /> <br />FOR <br /> <br />SALE <br /> <br />OF <br /> <br />The Chairman announced that it was the time and place for the Joint <br />Public Hearing of the Community Redevelopment Agency and the City <br />Council of the City of Santa Ana for the proposed sale of property <br />by the Community Redevelopment Agency of the City of Santa Ana to <br />Allan and Sara Fainbarg. He stated that the property is located on <br />the northeast corner of 17th and Bush Streets. He then asked that <br />staff identify the property or issues and give the staff <br />recommendation. <br /> <br />The Real Estate Manager pointed out that, during the assemblage of <br />the Auto Mall site, it had been necessary for the Agency to acquire <br />several right-of-ways from the Santa Fe Railway Company, one of <br />which was a railroad spur line which served an industrial parcel <br />which was owned by Allan and Sara Fainbarg. He added that the <br />parcel was located on the southwest corner of Ritchey and Wilshire <br />Streets. He stated that Mr. Fainbarg had expressed an interest in <br />exchanging the value of the severance damages to his Ritchey Street <br />property for a piece of real property owned by the City of Santa <br />Ana, located at the northeast corner of 17th and Bush Streets, <br />which is adjacent to a property which he owns on the north and <br />east. The Real Estate Manager stated that staff has determined <br />that the value of the severance damages for the Fainbarg property <br />and the fair market value of the City-owned parcel have an equal <br />value of $54,000. He added that Allan and Sara Fainbarg have <br />agreed to accept the City-owned parcel, in lieu of severance <br />damages, and to hold the parcel at 17th and Bush as one parcel in <br />connection with their adjacent property. <br /> <br />In response to a query from the Chairman, the Agency Secretary <br />stated that there were no written communications. <br /> <br />The Chairman then stated that the Agency would like to hear from <br />the public, adding that anyone wishing to speak should step to the <br />podium, give their name and address and limit their remarks to five <br />minutes. There being no one present who wished to speak for or <br />against the proposed sale, the Chairman declared the public hearing <br />closed and called for questions from the Agency Members. <br /> <br />In response to a question from Agency Member McGuigan, the Real <br />Estate Manager stated that there would not be any City-owned <br />property acquired in this transaction since the Agency is using <br />this method of paying the Fainbargs for the loss of a railway <br />access. <br /> <br />2 <br />