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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 3 <br />purpose of financing the acquisition and rehabilitation of 703 N. <br />Lacy and 702 S. Raitt. <br />2. Adopt a resolution approving the issuance of tax exempt bonds for the <br />projects. <br />3. Direct the City Attorney to prepare and authorize the City Manager to <br />execute a loan agreement with Lacy and Raitt, LP for the acquisition <br />and rehabilitation of 703 N. Lacy in a total amount not to exceed <br />$1,330,643. <br />4. Direct the City Attorney to prepare and authorize the City Manager to <br />execute a loan agreement with Lacy and Raitt, LP for the acquisition <br />and rehabilitation of 702 S. Raitt in a total amount not to exceed <br />$689,397. <br />5. Adopt a resolution approving the Relocation Plan for the property <br />located at 703 N. Lacy. <br />6. Adopt a resolution approving the Relocation Plan for the property <br />located at 702 S. Raitt. <br />Recommended that the Community Redevelopment Agency: <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 />80B-3 <br />