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C~ER~ ®F C®19NC1~ llSE ®P~L.Y: <br />JAN[1ARY 5, 2 0 0 9 <br />T~'1"L.E: <br />JOINT PUBLIC HEARING - TAX EXEMPT BOND <br />FINANCING AND LOAN AGREEMENTS WITH LACY <br />AND RAITT, LP {703 N. LACY/702 S. RAITT) <br />APPROVE^ <br />^ As Recommended <br />^ As Amended <br />© Ordinance on 1st Reading <br />© Ordinance an 2nd Reading <br />© Implementing Resolution <br />© Set Public Hearing For <br />1. Conduct a Tax Equity and Financial Responsibility Act (TEFRA) Hearing <br />in consideration of the issuance of multi-family housing revenue <br />bonds by the Houszng Authority of the City of Santa Ana for the <br />purpose of financing the acquisition and rehabilitation of 703 N. <br />Lacy and 702 S. Raitt. <br />2. Adopt a resolution approving the issuance of tax exempt bands far the <br />projects. <br />3. Direct the City Attorney tc prepare and authorize the City Manager to <br />execute a loan agreement with Lacy and Raitt, LP for the acquisition <br />and rehabilitation of 703 N. Lacy in a total amount not to exceed <br />$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 <br />and rehabilitation of 702 S. Raitt in a total amount not to exceed <br />$689,397. <br />5. Adopt a resolution approving the Relocation Plan for the property <br />located at 703 N. Lacy. <br />5 <br />