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REQUEST FOR <br />AGENCY ACTION <br />AGENCY BOARD MEETING DATE: <br />JUNE 19, 2006 <br />TITLE: <br />AGREEMENT FOR ACQUISITION OF REAL <br />PROPERTY AND ESCROW INSTRUCTIONS <br />FOR 601 E. FIFTH, 505 -507 MINTER <br />AND 607 E. FIFTH STREET <br />AGENCY SECRETARY USE ONLY: <br />nwhoy+: 1251 St <br />?add : chy► <br />APPROVED 10;p (Slam a,bserf) <br />[� <br />As Recommended <br />❑ <br />As Amended <br />❑ <br />Ordinance on 1" Reading <br />❑ <br />Ordinance on 2nd Reading <br />❑ <br />Implementing Resolution <br />❑ <br />Set Public Hearing For <br />CONTINUED TO <br />/ 1(�{�1LLf� K&�G�/ FILE NUMBER <br />� EXEC VE DIRECTOR <br />r— <br />RECOMMENDED ACTION <br />1. Direct the Agency General Counsel to prepare and authorize the <br />Executive Director to execute an agreement for the acquisition of <br />real property and escrow instructions acquiring the real property <br />located at 601 E. Fifth and 505 -507 Minter Street, Santa Ana, and <br />identified as Assessor Parcel Number 398 - 333 -09, from Loy C. and <br />Verna R. Corum, as Co- Trustees of the Loy C. Corum and Verna R. <br />Corum Revocable Living Trust, for the amount of $1,040,000 plus <br />normal escrow and closing costs. <br />2. Direct the Agency General Counsel to prepare and authorize the <br />Executive Director to execute an agreement for the acquisition of <br />real property and escrow instructions acquiring the real property <br />located at 607 E. Fifth, Santa Ana, and identified as Assessor <br />Parcel Number 398 - 333 -08, from Loy C. and Verna R. Corum, as Co- <br />Trustees of the Loy C. Corum and Verna R. Corum Revocable Living <br />Trust, for the amount of $250,000 plus normal escrow and closing <br />costs. <br />COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECODMhENDATION <br />Recommended that the Community Redevelopment Agency: <br />1. Direct the Agency General Counsel to prepare and authorize the <br />Executive Director to execute an agreement for the acquisition of <br />real property and escrow instructions acquiring the real property <br />located at 601 E. Fifth and 505 -507 Minter Street, Santa Ana, and <br />identified as Assessor Parcel Number 398 - 333 -09, from Loy C. and <br />Verna R. Corum, as Co- Trustees of the Loy C. Corum and Verna R. <br />Corum Revocable Living Trust, for the amount of $1,040,000 plus <br />normal escrow and closing costs. <br />33. — 5 <br />