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REQUEST FOR �I� <br />AGENCY ACTION Ed ° <br />AGENCY BOARD MEETING DATE: <br />FEBRUARY 22, 2005 <br />TITLE: <br />AGREEMENT FOR ACQUISITION OF REAL <br />PROPERTY AND ESCROW INSTRUCTIONS <br />FOR 712 E. FIFTH STREET <br />EXECUTIVE DIRECTOR <br />RECOMMENDED ACTION <br />AGENCY SECRETARY USE ONLY: <br />'s o %n <br />APPROVED CI�GhQ o�Lt� <br />V As Recommended <br />❑ <br />As Amended <br />❑ <br />Ordinance on 1"Reading <br />❑ <br />Ordinance on 2n° Reading <br />❑ <br />Implementing Resolution <br />❑ <br />Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Direct the Agency General Counsel to prepare and authorize the Executive <br />Director to execute an agreement for the acquisition of real property and <br />escrow instructions acquiring the real property located at 712 East Fifth <br />Street, Santa Ana, and identified as Assessor Parcel Number 398 - 337 -03, <br />from David Mirrafati for the amount of $525,000 plus normal escrow and <br />closing costs. <br />COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECOMMENDATION: <br />Recommended that the Community Redevelopment Agency direct the Agency <br />General Counsel to prepare and authorize the Executive Director to <br />execute an agreement for the acquisition of real property and escrow <br />instructions acquiring the real property located at 712 East Fifth <br />Street, Santa Ana, and identified as Assessor Parcel Number 398 - 337 -03, <br />from David Mirrafati for the amount of $525,000 plus normal escrow and <br />closing costs. <br />By a vote of 6:1 (Turner opposed) at its Regular Meeting of February 15, <br />2005. <br />DISCUSSION <br />The subject property is within the boundaries of the specific plan <br />currently being prepared for development of a new residential <br />neighborhood in the area bounded by French Street, Civic Center Drive, <br />Santiago Street and Third Street. The owner of the subject property <br />