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<br />5. <br /> <br />MOTION: Alvarez <br /> <br />SECOND: Pulido <br /> <br />VOTE: <br /> <br />AYES: <br /> <br />Alvarez, Bustamante, Sarmiento, Tinajero, <br />Pulido (5) <br /> <br />NOES: Martinez (1) <br />ABSTAIN: Benavides (1) <br />ABSENT: None (0) <br /> <br />LOAN AGREEMENTS WITH TOWNSEND & RAITT, LLC AND <br />AUTHORIZATION OF RELOCATION PLAN, 817 AND 821 S. <br />TOWNSEND 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 <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 />Thomas Gordon spoke in opposition to the project; Barry Cottle, <br />representing Orange Housing Development Corporation addressed the <br />Council in support of 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 817 S. <br />Townsend Street in an amount not to exceed $1,333,201 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 821 S. <br />Townsend Street in an amount not to exceed $1,436,203 and <br />authorize the Executive Director or designee to execute all <br />required documents. <br /> <br />eRA MINUTES <br /> <br />JANUARY 7, 2008 <br /> <br />4 <br />