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<br />JOINT SESSION BElWEEN COMMUNITY REDEVELOPMENT <br />AGENCY AND THE CITY COUNCIL <br /> <br />The Community Redevelopment Agency recessed to a joint session with City <br />Council at 7:55 p.m. <br /> <br />4. <br /> <br />LOAN AGREEMENTS WITH TOWNSEND & RAITT, LLC AND <br />AUTHORIZATION OF RELOCATION PLAN, 701 and 709 S. TOWNSEND <br /> <br />At its Regular Meeting of November 20, 2007, the Community <br />Redevelopment and Housing Commission voted against recommending <br />the 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 /> <br />Continued from the December 3,2007, Agency meeting by a vote of 7:0. <br /> <br />Councilmember Benavides abstained from participating in the discussion <br />and consideration of this item due to the proximity of his residence <br />address to the two locations listed above, and left the dais for this item <br />only. <br /> <br />Thomas Gordon expressed concern about the cost of the project and <br />Lisann Martinez spoke in opposition to the project. <br /> <br />Barry Cottle and Eunice Bobert, representing Orange Housing <br />Development Corporation spoke in support of the project and answered <br />questions by council members related to the project. <br /> <br />Motion: <br /> <br />1. Direct the Agency General Counsel to prepare a loan <br />agreement with Townsend & Raitt, LLC for the acquisition and <br />rehabilitation of residential property located at 701 S. <br />Townsend Street in an amount not to exceed $1,200,326 and <br />authorize the Executive Director or designee to execute all <br />required documents. <br /> <br />2. Direct the Agency General Counsel to prepare a loan <br />agreement with Townsend & Raitt, LLC for the acquisition and <br />rehabilitation of residential property located at 709 S. <br />Townsend Street in an amount not to exceed $1,063,898 and <br />authorize the Executive Director or designee to execute all <br />required documents. <br /> <br />eRA MINUTES <br /> <br />3 <br /> <br />JANUARY 7, 2008 <br />