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The following Summary Report is based upon information contained within the Agreement, and <br /> is organized into the following seven sections: <br /> I~ Salient Points of the~4greement: This section summarizes the major responsibilities <br /> imposed an the Agency and Developer by the Agreement. <br /> I1. Cost of the Agreementto the Agency; This section details the total cast to the <br /> Agency associated with implementing the Agreemen#. <br /> Ill. Estimated Value of the Interests to be Conveyed or Leased Determined at the <br /> Highest and Best Uses Permitted urrde~ the Redevetoprrrent Plan: This section <br /> estimates the value of the interests to be conveyed determined t the highest and best <br /> use permitted under the Site's zoning and the requirements imposed by the <br /> Redevelopment Plan, <br /> lV, Bstimated Reuse Value of the Interests to be Conveyed or Leased: This section <br /> summarizes the valuation estimate for the Site based an the required scope of <br /> development, and the other conditions and covenants required by the Agreement, <br /> V, Consideration Received and Domparison with the Established Value: This section <br /> describes the carnpensatian to be received by the Agency, and explains any difference <br /> between the compensation to be received and the established value of the Site <br /> 111. Blight Elimination; This sectian describes the existing blighting conditions on the Site, <br /> and explains how the Agreement will assist in alleviating the blighting influence <br /> 1111. Conformance with the A6~90 irnplernentation Plan: This sectian describes how the <br /> Agreement is in oonformance with the Agency's adopted ABA Aga Implementation Klan, <br /> This report and the Agreement are to be made available for public inspection prior to the <br /> approval of the Agreement <br /> I. SALIENT P~If~TS ~F THB AGREEMENT <br /> Project Description <br /> <br /> The Agreement requires the Developer to complete the fallowing Scope of Development; <br /> Phase R~~ gill be developed an approximately acres on the black bounded by <br /> Santa Ana Boulevard, Lacy Street, Sixth Street, and Minter Street, and will contain the <br /> fallowing elements: <br /> a, A total of seventy~four ~74~ multi-family residential units, alloca#ed to the following <br /> unit mix: <br /> 3D04~.SA~~L~iH:gbd <br /> 4°~94.~Oi.~S7 <br /> <br />