NEWS RELEASE CONTACT: Angela Jones, Public Information Officer (916) 440-1355, or (916) 919-3090 www.shra.org SHRA (www.shra.org) is a Joint Powers Agency created by the City and County of Sacramento to represent both jurisdictions for affordable housing and community redevelopment needs. The Agency serves as the Housing Authority for the City and County of Sacramento and is the leading public developer of affordable housing and oversees residential and commercial revitalization activities in 15 redevelopment areas throughout the City and County. SHRA has a FY 2008 budget of $276.7 million and approximately 291 employees. The Agency owns and manages 3,144 units of public housing and is one of the largest landlords in Sacramento. SHRA also administers approximately 11,000 rental assisted vouchers per month. “One Community, One Vision” 630 I Street, Sacramento, California 95814 (916) 444-9210 phone (916) 441-1197 fax FOR IMMEDIATE RELEASE July 1, 2008 REDEVELOPMENT AGENCY ACQUIRES BUILDING FOR NEW HEADQUARTERS Sacramento, California – Sacramento Housing and Redevelopment Agency (www.shra.org) has acquired 801 - 12th Street, a 51,000 square-foot office building in downtown Sacramento for $9.1 million as the site for its administration offices. Dan Chamberlain of Grubb & Ellis, and former Grubb & Ellis broker Heath Charamuga, now with Colliers International, represented SHRA as the buyer. Mark Hefner, owner/broker of Hefner Realty, represented nonprofit Regional Council of Rural Counties (RCRC) as seller of the property. The purchase closed escrow on June 30. The Agency will consolidate approximately 130 administration staff from five locations into the six-story office building. The relocation is planned for late 2009 after tenant improvements are completed. The purchase agreement allows RCRC to continue occupying two floors of the building until October. The Agency has not determined disposition of the sites vacated by the relocation, including its administration offices at 630 I Street and an adjacent building that provides housing for seniors. # # #