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INStli iAvCE N01- I' i lliRr'0 <br />MAYOR Ill Ii'My P N!JCEED <br />Miguel A. Pulido CLI-lii{ 0," C -OU OIL <br />MAYOR PRO TEM <br />COUNCILMEArJuan Villegas APR 0 4 2019 <br />IBERS <br />Cecilia Iglesias <br />David Penaloza <br />Vacant �wY1C� �a4tt4"> <br />Vicente Sarmiento <br />Jose Solorio <br />March 5, 2019 <br />Community Development Agency <br />20 Civic Center Plaza a P.O. Box 1988 <br />Santa Ana, California 92702 <br />www.santa-ana.ora <br />(714) 647-5360 <br />Troy Hendrickson <br />Vice President of Construction <br />Habitat for Humanity of Orange County <br />2200 S. Ritchey Street <br />Santa Ana, CA 92705 <br />A-2019-053 <br />ACTING CITY MANAGER <br />Steven A. Mendoza <br />CITY ATTORNEY <br />Sonia R. Carvalho <br />ACTING CLERK OF THE COUNCIL <br />Norma Mitre -Ramirez <br />Re: Lacy Street Project <br />416 Vance Street (APN 398-041-22) and 826 N. Lacy Street (APN 398-041-22), <br />Santa Ana, CA 92701 <br />Pre -Commitment Letter for Lease Agreement <br />Habitat for Humanity of Orange County ("Developer") requested financial assistance in <br />connection with the proposed development of a two (2) unit affordable housing project to be <br />located at 416 Vance Street (APN 398-041-22) and 826 N. Lacy Street (APN 398-041-22) <br />("Project"). <br />The City of Santa Ana ("City") and Housing Authority of the City of Santa Ana ("Housing <br />Authority") have reviewed the Developer's request for assistance, and at the joint City <br />Council / Housing Authority meeting on March 5, 2019, the City Council and Housing <br />Authority Board authorized and approved issuance of this pre -commitment letter evidencing <br />the preliminary award of ("Agency Assistance"): <br />A loan in the maximum amount of $231,494 in inclusionary housing in -lieu fee <br />payments made pursuant to the City's Housing Opportunity Ordinance (Article <br />XVIII.I of Chapter 41 of the Santa Ana Municipal Code) (the "Inclusionary Housing <br />Fund") held by the City of Santa Ana for the Project ("City Loan"); and, <br />A 99 -year ground lease for the property located at 416 Vance Street (APN 398- <br />041-22) and 826 N. Lacy Street (APN 398-041-22), Santa Ana, CA 92701, with <br />a combined appraised value of $578,000.00 as of October 25, 2018; to be used <br />SANTA ANA CITY COUNCIL <br />Miguel A. Pulido Juan Villegas Vicente Sarmiento David Penaloza Jose Solorio Vacant Cecilia Iglesias <br />Mayor Mayor Pro Tem, Ward 5 Ward 1 Ward 2 Want 3 Ward 4 Waid g <br />moulid9@onta-ana.ara vipergs@santa-ana.om yaxl'entoGDsanta-ana aro duenaloza/asantaanm my isolor'o(o)santasnpyy c_,gnsias(o']aant-ana.or <br />