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REQUEST FOR COUNCIL/ <br />AGENCY ACTION <br />MEETING DATE: <br />APRIL 7, 2008 <br />JOINT PUBLIC HEARING — SALE OF <br />AGENCY —OWNED PROPERTY LOCATED AT <br />715 -719 NORTH CONCORD STREET <br />CLLQ <br />CITY M NAGER �sIEXECUTI DIRECTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL <br />CLERK OF COUNCIL USE ONLY: <br />Mahan : t9l La ea <br />dW4. &_rawtde.o <br />APPROVED <br />As Recommended 7'6 <br />❑ As Amended <br />❑ Ordinance on 1st Reading <br />❑ Ordinance on 2nd Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution making certain findings with respect to the <br />consideration to be received by the Community Redevelopment Agency <br />pursuant to a Purchase and Sale Agreement between the Agency and the <br />City for the sale of property located at 715 -719 North Concord Street <br />and authorizing the Deputy City Manager for Development Services to <br />execute all required documents. <br />COMMUNITY REDEVELOPMENT AGENCY <br />pl:A . 00a` <br />Adopt a resolution authorizing the sale of Agency -owned property located <br />at 715 -719 North Concord Street and authorizing the Executive Director <br />to execute all required documents. <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 two lots that will soon exceed this <br />time limit. In order to comply with State law, the Community <br />Redevelopment Agency will sell the property located at 715 -719 North <br />Concord Street (Exhibit 1) to the City of Santa Ana for its appraised <br />4 -13 <br />