CITY OF LAKE FOREST
RESIDENTIAL PROPERTY ACQUISITION AND TENANT RELOCATION
In the fall of 2010, RSG was assigned by the Agency to assist with property acquisition and relocation of a multifamily project. With RSG’s assistance the Agency acquired a four-plex for affordable housing purposes. The property was occupied by primarily Spanish-speaking families with very-low incomes. RSG acted as the acquisition consultant; managing negotiations with the seller, coordination with the appraisal consultant, and coordinating the day-to-day activities with the escrow company. RSG also conducted and prepared the property inspection report, which was performed by our construction management team.
RSG relocated all four tenants, including one tenant that used its relocation assistance toward the down payment on a new home as a first-time homebuyer. The project was funded with former redevelopment housing set-aside funds; therefore, State Relocation and Acquisition Guidelines were followed.