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<br />Public Hearing ~ Sale <br />of Agency Owned Property <br />May 7, 2007 <br />Page 2 <br /> <br />DISCUSSION <br /> <br />The Community Redevelopment Agency has purchased a number of properties <br />over the years for the development of very low-, low- and moderate- <br />income housing. California Community Redevelopment Law restricts the <br />length of time an Agency may hold land for future development to ten <br />years. Currently, the Agency owns five parcels that will soon exceed <br />this time limit. In order to comply with State law, the Community <br />Redevelopment Agency will sell the properties located at 612, 614, 622, <br />and 714 E. Santa Ana Blvd. (Exhibit 1), and 217,219 S. Birch Street <br />(Exhibit 2) to the City of Santa Ana for their total appraised value of <br />$1,570,000. The intent is to ultimately develop these sites in a manner <br />consistent with the surrounding neighborhoods. <br /> <br />ENVIRONMENTAL COMPLIANCE <br /> <br />In accordance with the California Environmental Quality Act, this <br />proj ect is exempt from further review. Categorical Exemption Nos. ER <br />2007-61, 62 will be filed for this project. <br /> <br />FISCAL IMPACT <br /> <br />Funds for the acquisition of these properties are available in the <br />Capi tal Outlay Fund Non-Departmental Land account (account no. 051-012- <br />6611). Proceeds from the sale of the property to the City of Santa Ana <br />will be deposited in the Agency's Housing Set-Aside Sale of Land account <br />(account no. 507-01-5821). <br /> <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br />~~ <br />elly andry- yle <br />Housing Manager <br />Community Development Agency <br /> <br />'t~~~)~...,> \~~. ... <br />Francisco Gutierrez ~~ <br />Executive Director <br />Finance and Management Services Agency <br /> <br />SGH/JP-H/mlr <br /> <br />H:\ACTIONS\2007 CC\P. H. JT CC-CRA - SaleAgenProp SABlvdBirch 5-7-07.doc <br /> <br />80A-2 <br />