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Tax Exempt Bond Financing and Loan <br />Agreements with Lacy and Raitt, LP <br />(703 N. Lacy/702 S. Raitt) <br />January 5, 2009 <br />Page 2 <br />6. Adopt a resolution approving the Relocation Plan for the property <br />located at 702 S. Raitt. <br />CONIlKiJNITY REDEVELOPMENT AGENCY ACTION <br />1. Direct the Agency General Counsel to prepare and authorize the <br />Executive Director to execute a loan agreement with Lacy and Raitt, <br />LP for the acquisition and rehabilitation of 703 N. Lacy in a total <br />amount not to exceed $1,556,217. <br />2. Direct the Agency General Counsel to prepare and authorize the <br />Executive Director to execute a loan agreement with Lacy and Raitt, <br />LP for the acquisition and rehabilitation of 702 S. Raitt in a total <br />amount not to exceed $806,265. <br />3. Adopt a resolution approving the Relocation Plan for the property <br />located at 703 N. Lacy. <br />4. Adopt a resolution approving the Relocation Plan for the property <br />located at 702 S. Raitt. <br />5. Adopt a resolution approving the Replacement Housing Plan for the <br />property located at 702 S. Raitt. <br />HOUSING AUTHORITY ACTION <br />Adopt a resolution relating to the issuance of bonds for the purpose of <br />financing the acquisition and rehabilitation of the properties located <br />at 703 N. Lacy and 702 S. Raitt. <br />CONIlKUNITY REDEVELOPMENT AND HOUSING CONIl~IISSION RECOI~~NDATION <br />At its Regular Meeting of December 16, 2008, by a vote of 5:0, the <br />Community Redevelopment and Housing Commission recommended the <br />following: <br />Recommended that the City Council: <br />1. Conduct a Tax Equity and Financial Responsibility Act (TEFRA) Hearing <br />in consideration of the issuance of multi-family housing revenue <br />bonds by the Housing Authority of the City of Santa Ana for the <br />80B-2 <br />