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JOINT SESSION BETWEEN CITY COUNCIL / <br />THE COMMUNITY REDEVELOPMENT AGENCY / <br />AND HOUSING AUTHORITY <br />PUBLIC HEARINGS <br />4. JOINT PUBLIC HEARING -TAX EXEMPT BOND FINANCING AND LOAN <br />AGREEMENTS WITH LACY AND RAITT, LP (703 N. LACY/702 S. RAITT) <br />Legal notice was published in the Orange County Register on December 15, <br />2008. <br />Legal notice was published in the O. C. Reporter on December 15, 2008, <br />(Notice of Consideration and Action on the Proposed Replacement Housing <br />Plan for property at 702 S. Raitt, Santa Ana) <br />At its Regular Meeting of December 16, 2008, by a vote of 5:0, the Community <br />Redevelopment and Housing Commission recommended the following: <br />Recommended that the City Council: <br />1. Conduct a Tax Equity and Financial Responsibility Act (TEFRA) Hearing in <br />consideration of the issuance of multi-family housing revenue bonds by the <br />Housing Authority of the City of Santa Ana for the purpose of financing the <br />acquisition and rehabilitation of 703 N. 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 and <br />rehabilitation of 703 N. Lacy in a total amount not to exceed $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 and <br />rehabilitation of 702 S. Raitt in a total amount not to exceed $689,397. <br />5. Adopt a resolution approving the Relocation Plan for the property located at <br />703 N. Lacy. <br />6. Adopt a resolution approving the Relocation Plan for the property located at <br />702 S. Raitt. <br />Recommended that the Community Redevelopment Agency: <br />CRA AGENDA 5 JANUARY 5, 2009 <br />