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REDEVELOPMENT AGENCY FOR THE CITY OF COLTON For the Meeting of December 6, 2005 TO: Honorable Chairperson and Boardmembers C FROM: Candace E. Cassel, Economic Development Director / SUBJECT: Consideration and Approval of Agency Resolution No. 84/8 Approving a Purchase and Sale Agreement Between Ma Wang Nien Hwa, John Lu and the Redevelopment Agency for the City of Colton for the Acquisition of a Tenant In Common Interest in Approximately .57 Acres of Land. DATE: BACKGROUND November 15, 2005 ITEM #22 In 2000, the Agency began acquiring property at the Northwest corner of. Mt. Vernon and Colton Avenues to construct an affordable housing project. (The chart below depicts the parcel number, current ownership information for each parcel, acreage and how title is held.) The property will be used to either (1) replace units that may become unavailable at the Colton Palms housing project or (2) as part of the Agency's housing production requirements. Earlier this year, the Agency began discussions with Housing Partners, I, (a non-profit arm of the San Bernardino County Housing Authority) to cooperate in the development of an affordable housing project. Coincidentally, the Housing Authority owns the senior housing complex located immediately to the west of the parcels the Agency is assembling. The existing senior housing project is one of the Housing Authority's high priority projects in need of major rehabilitation. Preliminary discussions have included several alternatives to address the needs of the existing senior housing project and development of the proposed project. Plans for the Bike Path have also been modified to complement the proposed housing project and to provide pedestrian linkages to the Hutton Center. Exhibit"A" to this report is a map of the Northwest corner of Mt. Vernon and Colton Avenues that identifies the parcels and related uses. Property Assemblage On July 7, 2004, the Agency acquired 1.47 acres, parcel 0161-221-03, through San Bernardino County's Chapter 8 Tax Sale process. The property is solely owned by the Agency; title is held in Fee. On August 21, 2003, the City acquired parcels 0161-221-04, 05, 06 and 37 at a San Bernardino County Sheriff's Sale. The Sheriff's Sale was held as part of a judicial foreclosure to recover delinquent special taxes owed to the City of Colton under CFD 90-1. During the judicial foreclosure process, the properties were acquired by private individuals through the County's Tax Sale -process, making the City and the private owners Tenants in Common. Collectively, the parcels make up 1.07 acres. • Parcel 0161-221-67 is owned in fee by Kathy Pham. Ms. Pham also has Tenant in Common ownership with the Agency on parcel 0161-221-37. R:\Administration\Meetings\2005 MEETINGS\December 6, 2005\Wang Property Purchase Staff Report.doc