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REQUEST FOR COUNCIL/ <br />AGENCY ACTION <br />MEETING DATE: <br />MARCH 21, 2011 <br />TITLE: <br />JOINT PUBLIC HEARING - RESOLUTION AND <br />THIRD AMENDMENT TO THE DISPOSITION AND <br />DEVELOPMENT AGREEMENT WITH VISTA DEL RIO <br />HOUSING PARTNERS, L.P. <br />CITY MANAGER EXECUTIVE ECTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />? As Recommended <br />? As Amended <br />? Ordinance on 1st Reading <br />? Ordinance on 2nd Reading <br />? Implementing Resolution <br />? Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution making certain findings with respect to the consideration to be received by the <br />Community Redevelopment Agency pursuant to a Disposition and Development Agreement <br />between the Community Redevelopment Agency and Vista Del Rio Housing Partners, L.P., for the <br />sale of certain real property in the City of Santa Ana and approving the sale of said real property <br />upon the terms and conditions contained in that Agreement. <br />COMMUNITY REDEVELOPMENT AGENCY <br />Authorize the Executive Director of the Community Redevelopment Agency and Agency <br />Secretary to execute the attached Loan Agreement with Vista Del Rio Housing Partners, L.P. <br />in the amount of $469,000, subject to non-substantive changes approved by the Executive <br />Director and Agency General Counsel. <br />2. Authorize the Executive Director of the Community Redevelopment Agency and Agency <br />Secretary to execute the attached Third Amendment to the Disposition and Development <br />Agreement with Vista Del Rio Housing Partners, L.P., subject to non-substantive changes <br />approved by the Executive Director and Agency General Counsel. <br />COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION ACTION <br />At its regular meeting on March 15, 2011, by a vote of 6:0, the Community Redevelopment and <br />Housing Commission recommended that City Council adopt a resolution and that the Agency <br />8OB-1