RSG

Intelligent Community Development

Case Studies Real Estate & Development

NEWHALL ENTRY BLOCK HSC 33433 SUMMARY REPORT

The Santa Clarita Redevelopment Agency recently had the opportunity to purchase an entire city block in a strategic location within Old Town Newhall. The Agency plans to redevelop this block with mixed uses, including housing affordable to low and moderate income households. The City received federal Neighborhood Stabilization Program grant funds, and was able to purchase a portion of this block with these funds for affordable housing development. RSG reviewed the various documents associated with the transactions, including the appraisal and sales agreements, and prepared the Health and Safety Code Section 33433 summary report that is necessary before an agency can convey any property that was acquired with tax increment funds.