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Public Hearing - Sale of <br />Agency -Owned Property Located <br />at 807 E. Santa Ana Boulevard <br />March 15, 2004 <br />Page 2 <br />COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECOMMENDATION <br />1. Recommended that the Community Redevelopment Agency adopt a <br />resolution authorizing the sale of Agency -owned property located at <br />807 E. Santa Ana Boulevard, and authorize the Executive Director to <br />execute all required documents. <br />2. Recommended that the Housing Authority adopt a resolution <br />authorizing the acquisition of Agency -owned property located at 807 <br />E. Santa Ana Boulevard, and authorize the Executive Director to <br />execute all required documents. <br />By a vote of 6:0 (Rodriguez absent) at its Regular Meeting of March 2, <br />2004. <br />DISCUSSION <br />The Community Redevelopment Agency has purchased a number of properties <br />over the years for the development of low and moderate - income housing. <br />California Community Redevelopment Law restricts the length of time an <br />Agency may hold land for future development to ten years. Currently, <br />the Agency owns a parcel that will soon exceed this time limit. In <br />order to comply with State law, the Community Redevelopment Agency will <br />sell the property at 807 E. Santa Ana Boulevard (Exhibit 1) to the <br />Housing Authority at its current appraised value of $122,500. The <br />intent is to ultimately develop this site in a manner consistent with <br />the surrounding neighborhood. <br />ENVIRONMENTAL IMPACT <br />In accordance with the California Environmental Quality Act, the <br />proposed project is exempt from further review. Categorical Exemption <br />ER No. 2004 -47 will be filed for the project. <br />120 <br />