Agenda Item
City Council
Item #: 3.10. 6/13/2023 File #: 23-0328
TO: Honorable Mayor and Members of the City Council
THRU: Tom Kisela, City Manager
FROM: Christopher Cash, Public Works Director
1. SUBJECT
Termination of Reciprocal Easement Agreement between 1201 and 1249 E. Katella Avenue.
2. SUMMARY
The termination of the reciprocal access agreement between Citizens Business Bank (1201 E Katella Ave), and City of Orange (1249 E Katella Ave) is a requirement of the tax credit financing for the Katella Terrace senior affordable housing project.
3. RECOMMENDED ACTION
Approve the Termination of Reciprocal Easement Agreement between Citizens Business Bank and the City of Orange; and authorize the Mayor to execute on behalf of the City.
4. FISCAL IMPACT
None.
5. STRATEGIC PLAN GOALS
Goal 3: Enhance and promote quality of life in the community c: Support and enhance attractive, diverse living environments.
6. DISCUSSION AND BACKGROUND
On February 8, 2022, the Orange City Council approved an agreement with OSH Katella Terrace LLC to accept land donation of the property located at 1249 E Katella Ave. The land donation from OSH Katella, LLC, is for the development of the Katella Terrace Apartments senior affordable housing project.
The transfer of land ownership to the City of Orange inherently came with a reciprocal access easement with the adjacent property at 1201 E Katella Ave, currently owned by Citizens Business Bank. Both owners agree the reciprocal access is no longer needed and wish to terminate the easement. Furthermore, the termination of the reciprocal access easement is a requirement for the tax credit financing of the senior affordable housing project.
7. ATTACHMENTS
· Termination of Reciprocal Easement Agreement
City of Orange Printed on 6/7/2023Page 1 of 1
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