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REQUEST FOR COMMUNITY <br />REDEVELOPMENT AND <br />HOUSING COMMISSION ACTION <br />MEETING DATE: <br />RECORDING SECRETARY USE ONLY: <br />AUGUST 17, 2010 <br />TITLE: <br />DISPOSITION AND DEVELOPMENT <br />AGREEMENT AND LOAN <br />AGREEMENTS - BUSH AND BIRCH <br />STREET PROPERTIES <br />DEPUTY CIT ANAGER FOR <br />DEVELOPMENT SERVICES <br />RECOMMENDED ACTION <br />Recommend that the City Council: <br />APPROVED <br />? As Recommended <br />? As Amended <br />CONTINUED TO <br />1. Authorize the Deputy City Manager and Clerk of the Council to execute a loan agreement with <br />Santa Ana WBBB, LP in an amount not to exceed $500,000, subject to non-substantive <br />changes approved by the Deputy City Manager and City Attorney for 215-217 South Birch <br />Street. <br />2. Authorize the Deputy City Manager and Clerk of the Council to execute a loan agreement with <br />Santa Ana WBBB, LP in an amount not to exceed $500,000, subject to non-substantive <br />changes approved by the Deputy City Manager and City Attorney for 435-437 South Birch <br />Street. <br />3. Authorize the Deputy City Manager and Clerk of the Council to execute a loan agreement with <br />Santa Ana WBBB, LP in an amount not to exceed $500,000, subject to non-substantive <br />changes approved by the Deputy City Manager and City Attorney for 2034-2038 Bush Street. <br />Recommend that the Community Redevelopment Agency: <br />1. Adopt a resolution approving a Disposition and Development Agreement between the <br />Community Redevelopment Agency and Orange Housing Development Corporation and C&C <br />Development for the development of affordable, multi-family units at 215-217 South Birch, 435- <br />437 South Birch and 2034-2038 Bush Streets. <br />2. Authorize the Executive Director and Agency Secretary to execute a loan agreement with Santa <br />Ana WBBB, LP in an amount not to exceed $530,000, subject to non-substantive changes <br />approved by the Executive Director and Agency General Counsel for 215-217 South Birch <br />Street. EXHIBIT 6 <br />8OA-17