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Loan Agreements with <br />Townsend & Raitt, LLC and <br />Authorization of Relocation Plans <br />December 3, 2007 <br />Page 5 <br />possible for the project to generate the income necessary to meet this <br />additional obligation. <br />When a Redevelopment Agency enters into an agreement for the acquisition <br />or disposition and development of property, which agreement would lead <br />to the displacement of people from their homes, the legislative body <br />must adopt, by resolution, a relocation plan. The draft Relocation <br />Plans for 701 S. Townsend Street and 709 S. (Exhibit 3) and for 817 S. <br />Townsend, 821 S. Townsend and 834 S. Raitt (Exhibit 4) have been <br />prepared in conformance with applicable provisions of California <br />Relocation Assistance Law and Relocation Guidelines as well as United <br />States Department of Housing and Urban Development (HUD) guidelines. <br />These plans are required due to the potential for temporary relocation <br />of households. The plan for 701 and 709 S. Townsend does not foresee a <br />need for any permanent relocation of households, and estimates the cost <br />of temporary relocation at $22,500. The draft plan for 817 S. Townsend, <br />821 S. Townsend and 834 S. Raitt does not foresee a need for any <br />permanent relocation of households, and estimates the cost of temporary <br />relocation at $45,000. <br />ENVIRONMENTAL IMPACT <br />In accordance with the California Environmental Quality Act and the <br />National Environmental Policy Act, the proposed project is exempt from <br />further review. Categorical Exemption No. ER 2007-201 will be filed for <br />this project. <br />FISCAL IMPACT <br />Funds for the acquisition and rehabilitation loans are available in the <br />HOME Program in the amount of $2,592,132 (account no. 130-148-6951) and <br />Tax Increment Housing Set -Aside Fund in the amount of $6,399,290 <br />(account no. 507-936-6951). <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />r <br />Shell Landry- ayle 0 Francisco Gutierrez <br />Housing Manager Executive Director <br />Community Development Agency Finance & Management Services Agency <br />SGH/SLB/mlr <br />H:\ACTION ITEMS\COUNCIL\2007 CC\JT CC-CRA LoanAgreeTownsendRaitt&AuthorofRelocPlans 12-3-07.doc <br />�L:l1 <br />