071904 AA 501 505 E 5th St-611 N Lacy

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REQUEST FOR �!� AGENCY ACTION QduUonie, AGENCY BOARD MEETING DATE: JULY 19, 2004 TITLE: AGREEMENTS FOR ACQUISITION OF REAL PROPERTY AND ESCROW INSTRUCTIONS FOR 501 EAST FIFTH, 505 EAST FIFTH, AND 611 NORTH LACY EXECUTIVE DIRECTOR RECOMMENDED ACTION AGENCY SECRETARY USE ONLY: APPROVED ❑ As Recommended ❑ As Amended ❑ Ordinance on ts` Reading ❑ Ordinance on 2nd Reading ❑ Implementing Resolution ❑ Set Public Hearing For CONTINUED TO FILE NUMBER 1. Direct the Agency General Counsel to prepare and authorize the Executive Director to execute an agreement for the acquisition of real property and escrow instructions acquiring the real property located at 501 E. Fifth Street, Santa Ana, and identified as Assessor Parcel Number 398 - 332 -09 from Caboraca Investments, Inc. and Carlos Velazquez and Associates for the amount of $625,000 plus normal escrow and closing costs. 2. Direct the Agency General Counsel to prepare and authorize the Executive Director to execute an agreement for the acquisition of real property and escrow instructions acquiring the real property located at 505 E. Fifth Street, Santa Ana, and identified as Assessor Parcel Number 398 - 332 -08 from Caboraca Investments, Inc. and Carlos Velazquez and Associates for the amount of $450,000 plus normal escrow and closing costs. 3. Direct the Agency General Counsel to prepare and authorize the Executive Director to execute an agreement for the acquisition of real property and escrow instructions acquiring the real property located at 611 N. Lacy Street, Santa Ana, and identified as Assessor Parcel Number 398 - 312 -04 from Caboraca Investments, Inc. and Carlos Velazquez and Associates for the amount of $420,000 plus normal escrow and closing costs. 1