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Settlement Agreement With Friends of <br />the Lacy Historic Neighborhood and First <br />Amendment to the DDA with Santa Ana <br />Station District, LLC <br />April 18, 2011 <br />Page 3 <br />• 611 North Minter will be demolished unless a buyer can relocate the structure by May <br />15, 2011. <br />• The City will prepare an historic survey for residential structures 50 years old or older in <br />the Lacy Neighborhood. The cost of this survey is expected to be approximately <br />$30,000. <br />The Agency will establish a $200,000 Lacy Neighborhood Housing Fund to encourage <br />home owners in the Lacy Neighborhood to make exterior home improvements. This <br />program would replace the $100,000 targeted residential loan program for the Lacy <br />Neighborhood approved by the Agency on June 7, 2010. This new program would also <br />provide grants for eligible property owners who want to propose their homes for listing on <br />the state or local historic register or apply for the Mills Act Property Tax Abatement <br />Program. The program would be funded up to $200,000 annually for a period of five <br />years (Exhibit 4). <br />• Santa Ana Historic Preservation Society (SAHPS) will be given the opportunity to inspect <br />homes for salvageable items, which the demolition contractor will remove identified items <br />prior to demolition. SAHPS will be responsible for the removal of the items from the site <br />and storage. <br />For eighteen (18) months from the effective date of the Settlement Agreement, prior to <br />future acquisition and/or demolition of homes in the Lacy Neighborhood, the Agency will <br />provide special notice to FOL and an opportunity for consultation. <br />The developer will pay Petitioners' attorneys' fees in an amount not to exceed <br />$72,000.00. <br />The terms of the Settlement Agreement, necessitate that the Scope of Development and related <br />sections of the DDA as applicable, be amended to allow for such changes. The following are the <br />changes that are incorporated into the First Amendment to the DDA (Exhibit 3): <br />• Change in Scope of Development to include the rehabilitation of single-family and multi- <br />family properties. A portion of Phase 2 multi-family rental will be replaced with For Sale <br />units. In total, this will result in one additional rental unit and eight fewer For Sale units <br />than the previously approved project. <br />• New site map <br />8OA-3