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Public Hearing - Condemnation of <br />Tang Property Located at <br />114 -120 West First Street <br />February 2, 2004 <br />Page 2 <br />rehabilitation of the nine existing residential units on the second <br />floor. Along with Caribou's plans, the City's Planning Division is also <br />processing a zone change and General Plan amendment for the entire block <br />to encourage future development consistent with the vision for the area, <br />which includes a residential loft component. <br />Inclusion of the Tang property would assist in achieving this vision for <br />the cohesive development of the block. Negotiations, therefore, have <br />been pursued with the Tang family regarding purchase of the subject <br />properties for redevelopment purposes; however, an impasse has been <br />reached in the process. Thus, staff is requesting adoption of this <br />resolution of necessity and initiation of condemnation proceedings. <br />ENVIRONMENTAL IMPACT <br />The lead agency, the City of Santa Ana, has previously approved Mitigated <br />Negative Declaration ER No. 2003 -100 covering this project. <br />FISCAL IMPACT <br />Funds are available in the South Main Tax Allocation Bond Series 2003A <br />Capital Project Fund account (account no. 552- 936 - 6611). <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Jo P. Reekstin o R.. <br />Executive Director Executi <br />Finance <br />JPR /SDG /kla <br />H: Actions\2004CRA\PH- Conde=ationTangProp -1 stSt- 2- 2- 04(Cont.) <br />2 <br />oma <br />Director fJ <br />Management Services Agency <br />