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HOUSING AUTHORITY MINUTES 2 OCTOBER 2, 2018 <br />1. REGULAR MEETING MINUTES OF OCTOBER 2, 2018 {STRATEGIC PLAN <br />NO. 5, 1} <br /> <br />MOTION: Approve Minutes. <br /> <br /> <br />2. EXCUSED ABSENCES – None. <br /> <br /> <br />3. QUARTERLY REPORT FOR HOUSING CHOICE VOUCHER PROGRAM <br />JULY 2018 – SEPTEMBER 2018 {STRATEGIC PLAN NO. 5} <br /> <br />MOTION: Receive and file the Quarterly Report for the Housing Choice <br />Voucher Program for the period of July 2018 – September 2018. <br /> <br /> <br />*** END OF CONSENT CALENDAR *** <br /> <br /> <br />BUSINESS CALENDAR <br /> <br /> <br />Joint item matter considered earlier as part of the City Council meeting. <br /> <br />JOINT SESSION OF THE CITY COUNCIL AND THE HOUSING AUTHORITY AGENCY <br /> <br />4. APPROVE COMMITMENT TO RESUBORDINATE THE EXISTING <br />AFFORDABLE HOUSING LOANS FOR THE CORNERSTONE <br />APARTMENTS TO $8,700,000 IN DEBT TO FUND REHABILITATION <br />COSTS {STRATEGIC PLAN NO. 4, 5} <br /> <br />MOTION: Authorize the City Manager and Executive Director of the <br />Housing Authority to execute a commitment letter to: <br /> <br />1. Resubordinate the current affordable housing loans for the <br />Cornerstone Apartments at 805 - 904 South Minnie Street, Santa Ana, <br />California to tax-exempt multifamily bonds (Bonds) in an amount not <br />to exceed $8,700,000. The Bond funds will be used to substantially <br />rehabilitate the Project. <br /> <br />2. Authorize the City Manager and Executive Director of the Housing <br />Authority to execute the necessary documents to level all rents onsite <br />at the 50% TCAC rents instead of the existing Health and Safety Code <br />rents. <br /> <br /> <br /> <br /> <br />1-2