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<br />MEETING DATE: <br /> <br />~ <br />~ <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />REQUEST FOR AGENCYI <br />COUNCIL ACTION <br /> <br />DECEMBER 19, 2005 <br />TITLE: <br /> <br />JOINT PUBLIC HEARING FIRST <br />AMENDMENT TO DISPOSITION AND <br />DEVELOPMENT AGREEMENT FOR THE <br />SANTIAGO STREET LOFTS DEVELOPMENT <br /> <br />APPROVED <br />o As I~ecommended <br />o As i~mended <br />o Ordinance on 1 st Reading <br />o Ordinance on 2nd Reading <br />o Implementing Resolution <br />o Set Public Hearing For <br /> <br />. () /l CONTINUED TO <br /> <br />(jd,"h~2._7;:k;C~ FILE NUMBER <br /> <br />CITY MANAGER EXECUTIVE DIRECTOR <br /> <br />RECOMMENDED ACTION <br /> <br />CITY COUNCIL ACTION <br /> <br />1. Adopt a resolution making certain findings with respect to the <br />consideration to be received by the Community Redevelopment Agency <br />pursuant to the First Amendment to a Disposition and Development <br />Agreement between the Agency and Santa Ana Transit Village, LLC for <br />the sale of certain property in the Merged Redevelopment Project Area <br />and approving the sale of said real property upon the terms and <br />condi tions contained in the First Amendment to the Disposition and <br />Development Agreement. <br /> <br />2. Approve transfer of property from the City of Santa Ana to the <br />Community Redevelopment Agency for $2,050,000. <br /> <br />REDEVELOPMENT AGENCY ACTION <br /> <br />1. Adopt a resolution approving a First Amendment to the Disposition <br />and Development Agreement between the Community Redevelopment Agency <br />and Santa Ana Transit Village, LLC. <br /> <br />2. Approve acceptance of property from the City of Santa Ana. <br /> <br />DISCUSSION <br /> <br />In April of 2004, the City and Redevelopment Agency approved a Disposition <br />and Development Agreement (DDA) for the development of the Santiago Street <br />Loft proj ect. The development will consist of 10 8 live/work units with <br />sizes ranging from 1,500 to approximately 2,300 sq. ft. Each unit will <br />also have a designated "commercial" space on the ground floor to encourage <br />the development of small entrepreneurial businesses and provide an active <br />pedestrian scene immediately adjacent to The Depot. <br /> <br />808-1 <br />