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Approval of Relocation and Replacement
<br />Housing Plans for Wilshire /Minnie Apartments
<br />February 5, 2007
<br />Page 2
<br />1213, 1221, 1225, 1229, and 1233 East Wilshire, and 1401, 1403, 1409,
<br />1413, 1421, 1425, 1429, 1433, 1437, and 1439 South Minnie.
<br />COMMUNITY REDEVELOPMENT AGENCY
<br />Recommended that the Community Redevelopment Agency adopt a resolution
<br />approving the Replacement Housing Plan for the residential property
<br />located at 1201, 1209, 1213, 1221, 1225, 1229, and 1233 East Wilshire,
<br />and 1401, 1403, 1409, 1413, 1421, 1425, 1429, 1433, 1437, and 1439 South
<br />Minnie.
<br />DISCUSSION
<br />On December 18, 2006, the City Council and the Community Redevelopment
<br />Agency authorized the preparation and execution of loan agreements with
<br />Wilshire /Minnie, L.P. for the acquisition and rehabilitation of
<br />seventeen properties located at 1201, 1209, 1213, 1221, 1225, 1229, and
<br />1233 East Wilshire and 1401, 1403, 1409, 1413, 1421, 1425, 1429, 1433,
<br />1437, and 1439 South Minnie (Exhibit 1). The project currently has 164
<br />one - bedroom units. After the reconfiguration, there will be 144 units
<br />with a mix of one, two, three, and four bedroom sizes. Permanent
<br />relocation of approximately 55 households will be necessary because of
<br />the reduction in units due to the reconfiguration and income
<br />restrictions required by the Low Income Housing Tax Credit Program.
<br />The California Health and Safety Code (Code) requires that when a
<br />Redevelopment Agency enters into an agreement for the acquisition or
<br />disposition and development of property that would lead to displacement
<br />of people from their homes, the legislative body must adopt, by
<br />resolution, a relocation plan. The attached Relocation Plan (Exhibit 2)
<br />addresses this displacement and has been prepared in accordance with the
<br />Code.
<br />Additionally, the Code requires the Agency to adopt, by resolution, a
<br />replacement housing plan whenever it destroys or removes dwelling units
<br />from the low- and moderate - income housing stock. Among other things,
<br />this replacement housing plan shall specify how and where the Agency
<br />shall provide replacement housing units. The attached Replacement
<br />Housing Plan (Exhibit 3) has been prepared for the property in
<br />accordance with the Code.
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