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Agreement, Mutual Release and Joint Escrow Instructions and related <br />Right of Entry and License Agreement with DWWRBB, Inc. (Honda Santa <br />Ana) and Vinci Investment Co., Inc. <br />*** END OF CONSENT CALENDAR *** <br />JOINT SESSION <br />CITY COUNCIL /COMMUNITY REDEVELOPMENT AGENCY <br />4. LOAN AGREEMENTS WITH TOWNSEND & RAITT, LLC AND <br />AUTHORIZATION OF RELOCATION PLAN, 701 and 709 S. TOWNSEND <br />At its Regular Meeting of November 20, 2007, the Community Redevelopment <br />and Housing Commission voted against recommending the actions for City <br />Council and Community Redevelopment Agency consideration listed below by a <br />vote of 2:3 (Pedroza, Rodriguez, Vasquez: No; Turner: absent), respectively. <br />Continued from the December 3, 2007, Agency meeting by a vote of 7:0. <br />Recommended Action: <br />Deny. If the City Council wishes to approve this project, the following <br />actions are necessary. <br />CITY COUNCIL ACTION: <br />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 />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 />3. Adopt a resolution approving the Relocation Plan for residential <br />properties located at 701 and 709 S. Townsend Street. <br />COMMUNITY REDEVELOPMENT AGENCY ACTION <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 />CRA AGENDA 4 JANUARY 7, 2008 <br />