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REQUEST FOR COUNCIL/ <br />AGENCY ACTION <br />MEETING DATE: <br />MARCH 3, 2008 <br />TITLE: <br />JOINT PUBLIC HEARING - SALE OF <br />AGENCY-OWNED PROPERTY LOCATED AT <br />809 E. SANTA ANA BLVD <br />~~ <br />C~` --- <br />CITY MANAGER E ECUTIVE DI ECTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />^ As Recommended <br />^ As Amended <br />^ Ordinance on 1st Reading <br />^ Ordinance on 2nd Reading <br />^ Implementing Resolution <br />^ Set Public He~-ring For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution making certain findings with respect to the <br />consideration to be received by the Community Redevelopment Agency <br />pursuant to a Purchase and Sale Agreement between the Agency and the <br />City for the sale of property located at 809 E. Santa Ana Blvd. and <br />authorizing the Deputy City Manager for Development Services to execute <br />all required documents. <br />COMMUNITY REDEVELOPMENT AGENCY <br />Adopt a resolution authorizing the sale of Agency-owned property located <br />at 809 E. Santa Ana Blvd. and authorizing the Executive Director to <br />execute all required documents. <br />DISCUSSION <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 one parcel that will soon exceed this <br />time limit. In order to comply with State law, the Community <br />Redevelopment Agency will sell the property located at 809 E. Santa Ana <br />Blvd. (Exhibit 1) to the City of Santa Ana for its appraised value of <br />80A-1 <br />