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<br />. <br /> <br />JOINT PUBLIC HEARING REGARDING THE OWNER PARTICIPATION AGREEMENT <br />WITH SYCAMORE RETIREMENT APARTMENTS, LTD. AND MERCURY SAVINGS AND <br />LOAN ASSOCIATION <br /> <br />Chairman Young announced that it was the time and place for the <br />Joint Public Hearing of the Community Redevelopment Agency and the <br />City Council of the City of Santa Ana for the proposed sale of <br />property located at 220 & 222 S. Sycamore Street by the Community <br />Redevelopment Agency of the City of Santa Ana to Sycamore <br />Retirement Apartments, Ltd., and Mercury Savings and Loan <br />Association. He then asked that staff identify the property or <br />issues and give the staff recommendation. <br /> <br />j../' <br /> <br />The City Manager <br />presentation. <br /> <br />asked <br /> <br />the <br /> <br />Housing <br /> <br />Manager <br /> <br />to <br /> <br />make <br /> <br />the staff <br /> <br />. <br /> <br />The Housing Manager, Pat Whitaker, gave a brief summary of the <br />facts in this case. She stated that construction of this new <br />senior housing project, located on a site between Walnut and Pine <br />streets and Broadway and Sycamore, will provide accommodation for <br />senior citizens comprising 1 and 2-bedroom units, with 25% of the <br />units for low income seniors. The Owner Participation Agreement <br />provides for Agency acquisition of two adjoining parcels, which <br />will expand the development. It also provides for an Agency loan <br />to the developer in the amount of $425,000.00. <br /> <br />When the Chairman asked for written communications, <br />responded that there were none. <br /> <br />the <br /> <br />City <br /> <br />Clerk <br /> <br />The Chairman then advised that the Agency would like to hear from <br />those people who desired to address the Agency on the issue, adding <br />that they should step to the podium and limit their remarks to five <br />minutes. <br /> <br />Mr. Bob Moore of 214 South Broadway, Santa Ana, addressed the <br />Agency concerning this issue. He stated he had mixed feelings <br />regarding the project, and that during the last three years, he had <br />documented 35 infractions against the existing structure. He <br />reported he had great difficulty in selling his ll-unit apartment <br />building located further down the street, as every lender in town <br />refused him a loan because of that unsitely dwelling. He said it <br />was very embarrassing trying to explain that monstrosity to his <br />customers. He added that he fervently hoped this would not happen <br />again, and affirmed his support to the City Council members. <br /> <br />. <br /> <br />Chairman Young reiterated he hoped <br />and thanked Mr. Moore for his support. <br /> <br />this would never happen again <br /> <br />-2- <br />