Laserfiche WebLink
Joint Public Hearing -Sale of Agency-Owned Property <br />June 20, 2011 <br />Page 2 <br />2. Authorize the Executive Director, or designee, to execute the attached agreement for the sale <br />of real property to the City of Santa Ana located at 335 East McFadden Avenue (APN 011- <br />065-19) in the amount of $272,860, plus normal closing costs and escrow fees, subject to <br />non-substantive changes approved by the Executive Director and Agency General Counsel. <br />DISCUSSION <br />During the course of its regular activities, the Community Redevelopment Agency (Agency) <br />acquired a number of properties for residential development through freeway widening and/or <br />street realignment activities, including the subject property. The subject property is located at 335 <br />East McFadden (Exhibit 1) and lies within the Eastside Neighborhood. It is zoned R1 and was <br />initially to be developed as affordable for-sale single family homes. During the developer selection <br />process for the Infill Scattered Sites Project, this property and the five adjacent City-owned <br />properties were removed to allow staff and the community time for the consideration of alternative <br />uses. This approval would consolidate ownership of all the lots and allow further explorations of <br />options as well as funding sources. <br />Under the proposed purchase agreement, the Agency-owned property at 335 East McFadden <br />Avenue will be purchased by the City using District 3 Acquisition and Development funds. The <br />property is currently vacant, and its proposed purchase price of $272,860 is based on its current <br />appraised fair market value. A public notice was published on June 6 and June 13, 2011, in the <br />Orange County Reporter. <br />ENVIRONMENTAL COMPLIANCE <br />In accordance with the California Environmental Quality Act, this sale is exempt from further <br />review. Categorical Exemption number ER-2011-47 will be filed for this project finding that it is <br />exempt pursuant to California Code of Regulations, Title 14, Division 6, Chapter 3, Section <br />15332(d) and (3). This action results in a transfer of title only and will not result in any significant <br />effects relating to traffic, noise, air quality, or water quality. Any future development will be limited <br />to construction of small structures or facilities such as public parking and recreation/playground <br />improvements. <br />FISCAL IMPACT <br />Funds to purchase the property are available in the District 3 Acquisition and Development account <br />(no. 31313260-66100). Proceeds from the sale of the property to the City of Santa Ana will be <br />deposited in the Agency's Merged Low and Moderate Income Housing Fund account (no. <br />50718002-58500). <br />5-2 <br />