Laserfiche WebLink
Agreement for Acquisition of Real Property <br />and Escrow Instructions for 610 -612 E. Fifth Street <br />and 621 E. Fifth, 508 & 510 N. Porter <br />July 18, 2005 <br />Page 2 <br />encompasses 6,250 square feet of land and contains three residential <br />units. Development of this property will be in compliance with the <br />Agency's replacement and inclusionary housing obligations and will be <br />designed in a manner that will enhance the surrounding neighborhood. The <br />ultimate affordability and development of this property has not yet been <br />fully determined. If applicable and as required by State Redevelopment <br />Law for the affordable units, the ultimate affordability will not exceed <br />120 percent of the area median income. <br />FISCAL IMPACT <br />Funds are available in the Housing Set -Aside Fund, Santa Ana Boulevard <br />Development Plan account (account no. 507- 936 -6611, project no. 7095). <br />V' <br />Patricia C. Whitaker <br />Executive Director <br />PCW /JLQ /mlr <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />A- <br />`1 \�`1h! <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br />H: \ACTIONS \2005 CRA\ AgreeACgRealPropandESCrowInstruc - De Groot Properties 7- 18- 05.doc <br />4 -2 <br />