Laserfiche WebLink
REQUEST FOR COUNCIL/ <br />HOUSING AUTHORITY <br />ACTION <br />CITY COUNCIL MEETING DATE: <br />MARCH 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 />Za� -!�_� �A�_ <br />CITY MANAGER EXECUTIVE DIRECTOR <br />RECOMMENDED ACTION <br />CITY COUNCIL <br />CLERK OF COUNCIL USE ONLY: <br />-:• _97 <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1s' 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 416 <br />Vance Street (APN 398-041-22) and 826 N. Lacy Street (APN 398-041-22), subject to non - <br />substantive changes approved by the City 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 416 Vance Street (APN 398-041-22) and 826 N. Lacy <br />Street (APN 398-041-22) for the development of the Lacy Street affordable housing project, <br />subject to non -substantive changes approved by the Executive Director of the Housing Authority <br />and 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 />80A-1 <br />