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REQUEST FOR COUNCIL/ <br />AGENCY ACTION <br />MEETING DATE: <br />SEPTEMBER 4, 2007 <br />APPROPRIATION ADJUSTMENT - AGREEMENT FOR <br />ACQUISITION OF REAL PROPERTY AND ESCROW <br />INSTRUCTIONS FOR 4809 W. EDINGER, 1029 <br />MCLEAN, and 4010, 4018, 4106, 4110 W. <br />MCFADDEN <br />CITY MANAGER 4EECUTIVE DI CTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL <br />COUNCIL CLERK OF ONLY: <br />rrnohar : f}Iva(ez <br />7rfd; Pr�na,;�c�s <br />APPROVED <br />h:6 <br />IR <br />As Recommended (,guSfarmk F- <br />❑ <br />As Amended zrlQr 1) <br />❑ <br />Ordinance on 1st Reading <br />❑ <br />Ordinance on 2nd Reading <br />❑ <br />Implementing Resolution <br />❑ <br />Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />1. Approve an appropriation adjustment recognizing $2,175,000 in Sale <br />of Land proceeds and prior year unanticipated revenues of <br />$3,250,000 in the Low and Moderate Income Housing Fund. <br />2. Direct the City Attorney to prepare and authorize the City Manager <br />and the Clerk of the Council to execute a purchase agreement and <br />escrow instructions for the real property located at 4809 W. <br />Edinger, 1029 McLean, and 4010, 4018, 4106, and 4110 W. McFadden. <br />COMMUNITY REDEVELOPMENT AGENCY <br />Authorize the Executive Director of the Community Redevelopment Agency <br />to execute a purchase agreement and escrow instructions from the City of <br />Santa Ana for the real property located at 4809 W. Edinger, 1029 McLean, <br />and 4010, 4018, 4106, and 4110 W. McFadden for $2,175,000 plus normal <br />closing costs and escrow fees. <br />DISCUSSION <br />During the course of its regular activities, the City of Santa Ana <br />Public Works Agency has purchased a number of properties throughout the <br />City. Some of these properties are no longer required by the Public <br />Works Agency and are suitable for residential development. Under the <br />5 -7 <br />