City Council

15. ARTIST LIVE WORK UNITS; AUTHORIZATION TO EXECUTE ASSIGNMENT OF PURCHASE AND\nSALE AGREEMENTS AND LOAN AGREEMENT WITH THE LAGUNA BEACH COMMUNITY LAND\nTRUST FOR 2307 AND 2535 LAGUNA CANYON ROAD\nRecommendations:\n1. Authorize the City Manager to execute the Assignment Agreement assigning the City’s Purchase and\nSale Agreements for 2307 and 2535 Laguna Canyon Road to the Laguna Beach Community Land\nTrust;\n2. Authorize the City Manager to execute a Loan Agreement in the principal amount of eight million\ndollars with the Laguna Beach Community Land Trust, secured by deeds of trust on both properties, on\nsubstantially the terms presented;\n3. Authorize the City Manager to execute all related escrow, security, and implementing documents\nnecessary to consummate the transaction;\n4. Approve a one-time grant to the Laguna Beach Community Land Trust in an amount not to exceed\nseventy five thousand dollars to cover closing costs associated with the acquisition of 2307 and 2535\nLaguna Canyon Road;\n5. Appropriate funds in an amount not to exceed seventy-five thousand dollars from the Housing Fund for\nthe purpose of providing the grant; and\n6. Find that the recommended action is not a project under the California Environmental Quality Act\npursuant to Section 15378 because the actions will not result in a direct or reasonably foreseeable\nindirect physical change in the environment.\nJ. PUBLIC HEARINGS - NON APPEALS.  This section is for matters (other than appeals) that are structured as Public Hearings.\nPublic hearings are different from regular business items in that there is a specific time period where a formal hearing is opened\nby the presiding officer, public comment is accepted from any member of the public, and the hearing is closed by the presiding\nofficer.   Generally each public speaker has one opportunity to speak.   The City Council conducts all Public Hearings in\naccordance with the provisions of applicable Laguna Beach procedure and State law. The presiding officer shall have discretion\nto establish the time allocated for public comment.