25L - 415-423 SOUTH RAITT ST - Laserfiche WebLink

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CITY COUNCIL MEETING DATE: REQUEST FOR COUNCIL ACTION CLERK OF COUNCIL USE ONLY: FEBRUARY 5, 2007 TITLE: APPROVED o As Recommended o As Amended o Ordinance on 1'1 Reading o Ordinance on 2'd Reading o Implementing Resoiution o Set Public Hearing For AGREEMENT WITH CIVIC CENTER BARRIO HOUSING CORPORATION a~A712, . CITY MANAGER CONTINUED TO d - FILE NUMBER RECOMMENDED ACTION Direct the City Attorney to prepare and authorize the Executive Director of the Community Development Agency to execute an Agreement for the development of 415-423 South Raitt Street by Civic Center Barrio Housing Corporation in the amount not to exceed $77,500. DISCUSSION The property located at 415 - 423 South Raitt Street, shown on Exhibit 1, was acquired by the City of Santa Ana for the development of affordable housing units. Civic Center Barrio Housing Corporation (CCBHC), a Community Housing Development Organization under the federal HOME Program, has expressed an interest in building rental housing on the si te. Staff supports this concept and the development of the rental units, which will assist in meeting Santa Ana's affordable production and replacement housing obligations. CCBHC has completed its conceptual discussions with the Planning and Building Agency staff and is prepared to begin work with a proj ect architect. The proposed Agreement will provide funding to CCBHC to pay for architecture, planning, survey work, landscape design, cost estimating, legal, insurance and title work. Once this work is completed, CCBHC will have the required information to develop a project budget. It is anticipated that, once the project budget is finalized, the City will enter into a Disposition and Development Agreement with CCBHC. This loan will be repaid at the time of the construction financing. 25L-1