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Agreement for Acquisition <br />Real Property and Escrow <br />Instructions for 511 East <br />February 6, 2006 <br />Page 2 <br />of <br />5th Street <br />The subject property, shown on Exhibit 2, encompasses 6,250 square feet <br />of vacant land. There are no building improvements on the property. <br />Development of this property will be in compliance with the Agency's <br />replacement and inclusionary housing obligations and will be designed in <br />a manner that will enhance the surrounding neighborhood. The ultimate <br />affordability and development of this property has not yet been fully <br />determined. <br />FISCAL IMPACT <br />Funds are available in the Housing Set -Aside Fund, Santa Ana Boulevard <br />Development Plan account (account no. 507 - 936 -6611, project no. 7095). <br />c, <br />Patricia C. Whitaker <br />Executive Director <br />PCW /JL /mlr <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />, v <br />Francisco Gutierrez <br />Executive Director `4✓ <br />Finance & Management Services Agency <br />H: \ACTIONS \2006 CRA\ AgreeAcgRealPropandEscrowInstruc 511 E 5th St 2- 6- 06.doc <br />4 -2 <br />