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SUMMARY REPORT PURSUANT TO <br />SECTION 33433 <br />OF THE <br />CALIFORNIA HEALTH AND SAFETY CODE <br />N A <br />DISPOSITION AND DEVELOPMENT AGREEMENT <br />EEMENT <br />Y AND BETWEEN <br />THE COMMUNITY NITY REDEVELOPMENT AGENCY of THE CITY of SANTA ANA <br />AND <br />SANTA ANA STATION DISTRICT, LLC <br />The following Summary report has been prepared pursuant to California Health and Safety <br />Code Section 33433 (Section 33433). The report sets forth certain details of the proposed <br />Disposition and Development Agreement (Agreement) between the redevelopment Agency of <br />the City of Santa Ana (Agency) and Santa Ana Station District, LLC (Developer). <br />The purpose of the Agreement is to effectuate the redevelopment Plan for the Merged Project <br />(redevelopment Plan) by developing several Agency -owned scattered parcels (Site) within the <br />Station District area with affordable rental and for -sale housing (Project).' Certain additional <br />third -party properties (Additional Properties) may be acquired subsequently the Agency for <br />inclusion in the development site. The Agency will convey the Site and any Additional Properties <br />to the Developer to allow for the development of the Project. <br />The Project will be developed in multiple phases that may be financed and constructed <br />separately, with separate closings for each Phase. The Project will include the following mix of <br />residential units: <br />1. Phase R -1 will contain seventy-three 3 ) multi-family rental knits restricted to very low <br />and extremely low income households plus one 1 manager unit for a total of seventy - <br />four 7 units; <br />2, Phase I--2 will contain thirty-seven 37 multi -- family rental units restricted to very row <br />and extremely low income households plus one 1 manager unit for a total of thirty -eight <br />(38) units; and <br />3. Phase FS will contain thirty-two 2 for -sale townhome units, of which six will be <br />restricted to moderate income households. <br />1 The site includes three parcels that are currently under contract, but will not have been conveyed to the <br />Agency prier to the execution of the Agreement (Segura Properties). <br />100 1 .SA :KHH: W <br />Exhibit K 1 909.00 1.067 <br />