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1. Direct the City Attorney to prepare a loan agreement with Townsend <br />& Raitt, LLC for the acquisition and rehabilitation of residential <br />property located at 701 S. Townsend Street in an amount not to <br />exceed $545,712 and authorize the Deputy City Manager for <br />Development Services or designee to execute all required <br />documents. <br /> <br />2. Direct the City Attorney to prepare a loan agreement with Townsend <br />& Raitt, LLC for the acquisition and rehabilitation of residential <br />property located at 709 S. Townsend Street in an amount not to <br />exceed $682,140 and authorize the Deputy City Manager for <br />Development Services or designee to execute all required <br />documents. <br /> <br />3. Adopt a resolution. <br /> <br />RESOLUTION - A resolution of the City Council of the City of Santa Ana <br />approving the relocation plan for residential property located at 701 and <br />709 South Townsend Street <br /> <br />COMMUNITY REDEVELOPMENT AGENCY ACTION <br /> <br />1. Direct the Agency General Counsel to prepare a loan agreement <br />with Townsend & Raitt, LLC for the acquisition and rehabilitation of <br />residential property located at 701 S. Townsend Street in an amount <br />not to exceed $1,200,326 and authorize the Executive Director or <br />designee to execute all required documents. <br /> <br />2. Direct the Agency General Counsel to prepare a loan agreement <br />with Townsend & Raitt, LLC for the acquisition and rehabilitation of <br />residential property located at 709 S. Townsend Street in an amount <br />not to exceed $1,063,898 and authorize the Executive Director or <br />designee to execute all required documents. <br /> <br /> <br />80.B. LOAN AGREEMENTS WITH TOWNSEND & RAITT, LLC AND <br />AUTHORIZATION OF RELOCATION PLANS, 817 AND 821 S. TOWNSEND <br />STREET AND 834 S. RAITT STREET <br /> <br />At its Regular Meeting of November 20, 2007, the Community <br />Redevelopment and Housing Commission voted against recommending the <br />actions for City Council and Community Redevelopment Agency <br />consideration listed below by a vote of 2-3 (Pedroza, Rodriguez, Vasquez: <br />No; Turner: absent), respectively. <br /> Continued from the December 3, 2007 City Council Meeting by a vote of 7-0 <br /> <br />Recommended Action: <br /> <br /> <br />CITY COUNCIL AGENDA 17 JANUARY 7, 2008 <br /> <br />