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REQUEST FOR COUNCIL/ <br />HOUSING AUTHORITY <br />ACTION <br />CITY COUNCIL MEETING DATE: <br />FEBRUARY 5, 2019 <br />TITLE: <br />APPROVE A PRE -LOAN COMMITMENT OF <br />$231,494 OF AFFORDABLE HOUSING <br />FUNDS AND A COMMITMENT FOR A 99 - <br />YEAR GROUND -LEASE TO HABITAT FOR <br />HUMANITY OF ORANGE COUNTY FOR THE <br />DEVELOPMENT OF THE LACY STREET <br />PROJECT <br />{STRATEGIC PLAN NO. 5, 3C} <br />CITY MANAGER EXECUTIVE DIRECTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1b' Reading <br />❑ Ordinance on 2nd Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Authorize the City Manager and the Clerk of the Council to execute a pre -loan commitment letter <br />with Habitat for Humanity of Orange County ("Habitat for Humanity") for $231,494 in Inclusionary <br />Housing Funds for the development of the Lacy Street affordable housing project located at 826 <br />N Lacy Street and 830 N. Lacy Street, subject to non -substantive changes approved by the City <br />Manager and City Attorney. <br />HOUSING AUTHORITY <br />Authorize the Executive Director of the Housing Authority and the Recording Secretary to <br />execute a pre -commitment letter with Habitat for Humanity of Orange County ("Habitat for <br />Humanity") for a 99 -year ground -lease of 826 N Lacy Street and 830 N. Lacy Street (APN: 398- <br />041-22 / 398-041-18) for the development of the Lacy Street affordable housing project, subject <br />to non -substantive changes approved by the Executive Director of the Housing Authority and <br />Authority General Counsel. <br />COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECOMMENDATION <br />At its regular meeting on January 23, 2019, the Community Redevelopment and Housing <br />Commission (CRHC) by a vote of 5:0 (Ramos and Urzua abstained): <br />1) Recommended that the City Council authorize the City Manager and the Clerk of the <br />Council to execute a pre -loan commitment letter with Habitat for Humanity of Orange <br />County ("Habitat for Humanity") for $231,494 in Inclusionary Housing Funds for the <br />development of the Lacy Street affordable housing project located at 826 N Lacy Street <br />80A-1 <br />