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Public Hearing - Sale <br />of Agency Owned Property <br />May 7, 2007 <br />Page 2 <br />DISCUSSION <br />The Community Redevelopment Agency has purchased a number of properties <br />over the years for the development of very low -, low- and moderate - <br />income housing. California Community Redevelopment Law restricts the <br />length of time an Agency may hold land for future development to ten <br />years. Currently, the Agency owns five parcels that will soon exceed <br />this time limit. In order to comply with State law, the Community <br />Redevelopment Agency will sell the properties located at 612, 614, 622, <br />and 714 E. Santa Ana Blvd. (Exhibit 1) , and 217, 219 S. Birch Street <br />(Exhibit 2) to the City of Santa Ana for their total appraised value of <br />$1,570,000. The intent is to ultimately develop these sites in a manner <br />consistent with the surrounding neighborhoods. <br />ENVIRONMENTAL COMPLIANCE <br />In accordance with the California Environmental Quality Act, this <br />project is exempt from further review. Categorical Exemption Nos. ER <br />2007 -61, 62 will be filed for this project. <br />FISCAL IMPACT <br />Funds for the acquisition of these properties are available in the <br />Capital Outlay Fund Non - Departmental Land account (account no. 051 -012- <br />6611). Proceeds from the sale of the property to the City of Santa Ana <br />will be deposited in the Agency's Housing Set -Aside Sale of Land account <br />(account no. 507 -01- 5821). <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />g&Aa* <br />Shelly L dry -Bayl Francisco Gutierrez �uf <br />Housing Manager Executive Director <br />Community Development Agency Finance and Management Services Agency <br />SGH /JP -H /mlr <br />H: \ACTIONS \2007 CC \P. H. JT CC -CRA - SaleAgenProp SAB1vdBirch 5- 7- 07.doc <br />4 -2 <br />