1 12/26/2023
NOTICE OF A PUBLIC HEARING OF THE CITY COUNCIL OF THE
CITY OF MERCED, REGARDING THE TRANSFER OF CERTAIN
REAL PROPERTIES ACQUIRED BY THE FORMER MERCED
REDEVELOPMENT AGENCY AS REQUIRED BY HEALTH AND
SAFETY CODE SECTION 33433
NOTICE IS HEREBY GIVEN that a public hearing will be held by the City Council of the City of Merced (“Council”) at the Council Chambers, 678 West 18th Street Merced, California, on January 2, 2024, at 6:00 p.m., or as soon as possible thereafter. The purpose of this hearing is to give the public the opportunity to express their views about the sale of City -owned properties located at the following locations (the “Properties”) to Linc Housing Corporation (“Developer”) for the purpose of developing affordable housing:
1823 “I” Street (Assessor’s Parcel No. or “APN” 031-074-009), 1815 “I” Street (APN 031-074-010),
205 West 18th Street (APN 031-074-011),
211 W. 18th Street (APN 031-074-012), and
202 W. 19th Street (APN 031-074-008).
A proposed Disposition and Development Agreement between the City of Merced (“City”) and Developer will sell the Properties to the Developer at less than fair market value for $1.00 per property, or $5.00 total, in exchange for developing 54 units of rental housing, of which 53 will be affordable and 1 will be reserved as a manger unit for a 55-year term.
The Properties were purchased by the former Merced Redevelopment Agency (“Former Agency”) with Low and Moderate Income Housing Funds and is required to be developed with affordable housing by California Health and Safety Code Section 34176.
A Summary Report of the proposed acquisition has been prepared pursuant to California Health and Safety Code Section 33433. The Summary Report describes Former Agency costs to acquire the Properties, presents the appraised value of the Properties, and outlines all contributions, financial and otherwise, the City will make. Copies of the Summary Report are available for review in the City Clerk's Office located at the address referenced above.
Anyone wishing to appear at the hearing and speak on these items may do so. Written comments may be submitted prior to the time of the hearing.
Questions or comments on this matter may be directed to Leah Brown at [email protected]
Dated the 18th day of December 2023.
Published in the 21st day of December 2023.
This notice is to be published at least once per week for two successive weeks prior to the hearing as specified in Government Code Section 6066.