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REQUESTFOR <br />COUNCIL/AGENCY <br />ACTION <br />MEETING DATE: <br />JANUARY 18, 2005 <br />G11 LE: <br />LOAN AGREEMENT WITH ORANGE <br />HOUSING DEVELOPMENT CORPORATION <br />AND AUTHORIZATION OF RELOCATION <br />PLAN <br />"'!ta <br />�pucadon Zy., <br />CITY MANAGER EXECUTIVE DIRECTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL ACTION <br />1. Recommend that the City Council: <br />CLERK OF COUNCIL USE ONLY: <br />rno-hcn,: G}l�ra�rt.� <br />APPROVED <br />As Recommended T'0 <br />❑ <br />As Amended <br />❑ <br />Ordinance on 1st Reading <br />❑ <br />Ordinance on 2nd Reading <br />❑ <br />Implementing Resolution <br />❑ <br />Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />a) Direct the City Attorney to prepare a loan agreement with <br />Orange Housing Development Corporation for the acquisition of a <br />24 unit multi - family property located at 901 E. Sixth Street in <br />an amount not to exceed $1,300,000 and authorize the Executive <br />Director of the Community Development Agency or designee to <br />execute all required documents. <br />b) Adopt a resolution approving the Relocation Plan for <br />residential property located at 901 E. Sixth Street. fiLSd tt- <br />a 0-x'7 <br />COMMUNITY REDEVELOPMENT AGENCY ACTION <br />Direct the Agency General Counsel to prepare a loan agreement with Orange <br />Housing Development Corporation for the acquisition of a 24 unit multi- <br />family property located at 901 E. Sixth Street in an amount not to exceed <br />$2,607,500 and authorize the Executive Director of the Community <br />Development Agency or designee to execute all documents as necessary. <br />4 -1 <br />