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REQUEST FOR COUNCIL/ <br />AGENCY ACTION <br />MEETING DATE: <br />DECEMBER 3, 2007 <br />LOAN AGREEMENTS WITH TOWNSEND & RAITT, LLC <br />AND AUTHORIZATION OF RELOCATION PLANS <br />CITY MANAGER XECUTIVE IRECTOR <br />CLERK OF COUNCIL USE ONLY: <br />M0 -ho14; q /Jarez <br />Z4d : mac, rrii <br />APPROVED <br />As Recommended - <br />❑ <br />As Amended <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 %z '71 Zoo? <br />pef -:5O� NCSa�oo . <br />FILE NUMBER u U <br />COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION ACTT <br />At its Regular Meeting of November 20, 2007, the Community Redevelopment <br />and Housing Commission voted against recommending the actions for City <br />Council and Community Redevelopment Agency consideration listed below by <br />a vote of 2:3 (Pedroza, Rodriguez, Vasquez: No; Turner: absent), <br />respectively. <br />The questions and concerns raised by the Community Redevelopment and <br />Housing Commission members included the following: Need for <br />Recommendation at Meeting; Alternative Funding Sources; Timing of <br />Acquisition; Identification of Location; Neighborhoods with Similar <br />Need; Availability of Social Services; Temporary Relocation; and <br />Remaining Tax Increment Funds. <br />Staff had recommended approval because the proV4) activity would <br />continue to expand the City's historic efforts and commitment to <br />stabilize neighborhoods and provide quality affordable housing <br />opportunities. The amount of per unit subsidy is consistent with prior <br />approved projects. This was an opportunity to begin stabilization of <br />this neighborhood utilizing funding which is designated for the <br />expansion and preservation of affordable housing. <br />RECOMMENDED ACTION <br />Deny. If the City Council wishes to approve this project, the following <br />actions are necessary. <br />3 -1 <br />