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1. Conduct a Tax Equity and Financial Responsibility Act (TEFRA) Hearing in <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 />1. Direct the Agency General Counsel to prepare and authorize the Executive <br />Director to execute a loan agreement with Lacy and Raitt, LP for the <br />acquisition and rehabilitation of 703 N. Lacy in a total amount not to exceed <br />$1, 556,217. <br />2. Direct the Agency General Counsel to prepare and authorize the Executive <br />Director to execute a loan agreement with Lacy and Raitt, LP for the <br />acquisition and rehabilitation of 702 S. Raitt in a total amount not to exceed <br />$806,265. <br />3. Adopt a resolution approving the Relocation Plan for the property located at <br />703 N. Lacy. <br />4. Adopt a resolution approving the Relocation Plan for the propeRy located at <br />702 S. Raitt. <br />5. Adopt a resolution approving the Replacement Housing Plan for the property <br />located at 702 S. Raitt. <br />Recommended that the Housing Authority: <br />Adopt a resolution relating to the issuance of bonds for the purpose of financing <br />the acquisition and rehabilitation of the properties located at 703 N. Lacy and <br />702 S. Raitt. <br />HOUSING AUTHORITY AGENDA 5 JANUARY 5, 2009 <br />