HomeMy WebLinkAbout031504 AA Real Prop Escrow Inst 901 Brown StREQUEST FOR I�S
AGENCY ACTION E °° 1„ 1
AGENCY BOARD MEETING DATE:
MARCH 15, 2004
TITLE:
AGREEMENT FOR ACQUISITION OF REAL
PROPERTY AND ESCROW INSTRUCTIONS
FOR 901 BROWN STREET
jh?444 -
EXECUTIVE DIRECTOR
RECOMMENDED ACTION
AGENCY SECRETARY USE ONLY:
APPROVED
❑
As Recommended
❑
As Amended
❑
Ordinance on 1" Reading
❑
Ordinance on 2n0 Reading
❑
Implementing Resolution
❑
Set Public Hearing For
CONTINUED TO
FILE NUMBER
Direct the Agency General Counsel to prepare and authorize the Executive
Director to execute an agreement for the acquisition of real property and
escrow instructions acquiring the real property located at 901 Brown
Street, Santa Ana, and identified as Assessor Parcel Number 398 - 313 -08
from Lucila Bernardino for the amount of $300,000 plus normal escrow and
closing costs.
DISCUSSION
The Community Redevelopment Agency has an obligation to replenish the
City's supply of affordable housing in order to mitigate the displacement
of affordable housing as a result of the Bristol Street widening and
McFadden Street realignment projects. The housing must be provided
within the next three -to -four years; however, there are very few vacant
residential sites available within the City on which to develop housing.
In addition, the City must meet its inclusionary housing obligations that
are arising from development occurring throughout the City in other
project areas. Therefore, it is essential to purchase infill residential
properties as they become available in order to produce additional
housing. The purchase price of $300,000 for this property represents the
current fair market value for properties within this section of the City.
The subject property, shown on Exhibit 1, encompasses 3,750 square feet
of land and contains one single- family residence of 925 square feet in
size. Development of this property will be in compliance with the
Agency's replacement and inclusionary housing obligations and will be
147
1
Agreement for Acquisition of Real
Property and Escrow Instructions
for 901 Brown Street
March 15, 2004
Page 2
designed in a manner that will enhance the surrounding neighborhood. The
subject property is within the boundaries of the specific plan currently
being prepared for development of a new residential neighborhood in the
area bounded by French Street, Civic Center Drive, Santiago Street and
Third Street. Attached as Exhibit 2 is a map of the area depicting this
and other Agency -owned properties.
FISCAL IMPACT
Funds are available in the Housing Set -Aside fund, Santa Ana Boulevard
Development Plan account (account no. 504 - 936 -6611, project no. 7095).
ZA,
Jo P. Reekstin
Executive Director
JPR /JL /kla
H: Actions \2004CRA\AgeeAcquiBscro901 BrownSt- 3 -15 -04
APPROVED AS TO FUNDS AND ACCOUNTS:
12a el.
Rod R. Coloma
Executive Director
Finance & Management Services Agency
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SIXTH STREET
901 Brown Street
EXHIBIT 1
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SANTA ANA BLVD. SIXTH STREET
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EXHIBIT 2
Min
AGENCY -OWNED PROPERTIES
0
612 -614
E. Santa Ana
Blvd.
(D
619
N. Garfield St. 12) 901 Brown St.
0
626 & 628
E. Santa Ana
Blvd.
C)
609
N. Garfield St.
0
714
E. Santa Ana
Blvd.
®
601 -603
E. 6th St. &
0
807
E. Santa Ana
Blvd.
609
N. Minter St.
0
809
E. Santa Ana
Blvd.
611
N. Minter
0
8091/2
E. Santa Ana
Blvd
620
N. Lacy St.
0
630
N. Garfield St.
804
E. Santa Ana Blvd.
0
604
N. Lacy St.
®
609
N. Lacy St.
0
622
N. Lacy St.
®
622
N. Garfield St.
('
625
N. Garfield St.
®
628
N. Garfield St.
®
602
N. Garfield St.
905
Brown St.
®
606
N. Lacy St.
®
709
E. Sixth St.
®
614
N. Lacy St.
801
E. Santa Ana Blvd.
605 -607
N. Lacy St.
®
618
N. Garfield St.
'10
EXHIBIT 2
Min