Laserfiche WebLink
The Agency currently o?rns certain real property ?"Agency Parcels"} <br />located v?rithin the City of Santa Ana ?"City"?, v?rhich property is also <br />partially located Within the geographic boundaries the "Project Area"'? of <br />the Merged Praject ?`terged Project"}, and is attempting to acgu?re other <br />real property that ?s?,?currently o?rned by third parties ?"Additional <br />Properties"? the Agency Parcels and Additional Properties are collectively <br />referred to as the "Site"}; and <br />F. Santa Ana Station District, LLC, a California limited liability corpany <br />?"Developer"}, has proposed to acquire the Site from the Agency, to <br />construct on the Site affordable rental hauling that ?ri11 be available to and <br />occupied by persons and families ofvery lava income and e?trernely love <br />incan?e, affordable far-sale housing th?tvuill be available to anal occupied <br />}? persons anal families of moderate income, and market rtefor?sale <br />housing that vuill be available to al[ buyers collectively, the "Developer <br />Project"}; and <br />In ardertoparry out and implement the Redevelopment P[an far the <br />Merged Praject and the affordable housing requirements thereof, the <br />Agency prapases to enter into a Disposition and Development Agreement <br />?"Agreerr?ent"} vtirith the Developer, pursuant to v?rhich the Agency ?rauld <br />k convey the Site to the Developer and the Developer ?rauld agree to <br />com?struct the Project in accordance vuith the requirements of the <br />Agreement, restrict occupancy of the rental hauling to persons and <br />families of very low income and extremely lair income, and restrict <br />occupancy of a portion of the far-sale housing to persons ar?d farr?ilies of <br />moderate income, al[ a more particularly set forth in thoAgreemont; and <br />H. Pursuant and subjectta the terms of the Agreement, the Agencyvuill <br />provide the following f financial assistance to the Developer Praject: {i} <br />[awns to the Developer in the amount of Ten 1111illian fight Hundred <br />Thousand Dollars ?g,?gg,g00}for Phase ?-1 {as defined in the <br />Agreements of the Develaper Praject and Four Million Seven Hundred <br />Seventy Thousand Dollars ?4,77a,0aa}for Phase R-? has defined [n the <br />Agreement} of the Developer Praject ?callectively, the "Agency Loan- <br />Rental Component"?; iii} a lawn to the Developer in the an?aunt of one <br />ll?iilion Five Hundred Thousand ??,Dg,gOD} far Phase F has defined in <br />the Areer?ent} of the Develaper Praject Agency Loan -Phase FS}and <br />viii} a lawn to each qualified Moderate lncon?e Hon?ebuyer of an <br />Affordable Far-Sale Unit has defined in the Agreernent? in the amount of <br />up to Thirty Thousand Dalfars ?0,Ogg? to be deposited by the <br />Agency Into the applicable escrovu far each Hon?ebuyer of an Affordable <br />Far-Sale Unit and disbursed by the escro agent to the Develaper upon <br />each Hon?ebuyer closing and purchase of ???n Affordable Far-Sal e Unit <br />beach, a {`HomebuyerAssistance Lawn"?; and, <br />R?aiut?on No. ???? ???? <br />Page 2 of ?