TINY TIM LP (C/O COMMUNITY DEVELOPMENT PARTNERS) (2)

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LOAN AGREEMENT INCLUSIONARY HOUSING PROGRAM THIS LOAN AGREEMENT ("Agreement") dated, for identification purposes only, as of April 16, 2019, is made and entered into by and between the City of Santa Ana, a charter city and municipal corporation ("City"), and Tiny Tim LP, a California limited partnership ("Developer") with reference to the following: RECITALS: A. The City's Housing Opportunity Ordinance ("Ordinance") was originally adopted by the City Council on November 28, 2011 (Ordinance No. NS-2825), and is codified in Article XVIILI of the Santa Ana Municipal Code ("SAMC"). The Ordinance was amended by the City Council on September 1, 2015 (Ordinance No. NS-2881), and on October 6, 2015 (Ordinance No. NS-2885). The Ordinance established standards and procedures to encourage the development of housing that is affordable to a range of households with varying income levels. Pursuant to SAMC section 41-1904(c), developers may pay an in -lieu fee in certain instances to satisfy the inclusionary requirements. These fiords are deposited into the Inclusionary Housing Fund, as defined by SAMC section 41- 1901, and are to be used to increase and improve the supply of affordable housing per SAMC section 41-1909. B. Developer, acting by and through its representative and agent, Community Development Partners, a California corporation ("CDP") requested financial assistance in connection with the proposed development of a fifty-one (51) unit affordable housing complex ("Project") to be located at 2223 West Fifth Street, Santa Ana, California, and legally described within Exhibit A attached hereto and incorporated herein ("Property"). At least fifteen (15) of the units will be affordable to family households earning no more than 30% of the Area Median Income ("AMI"); five (5) of the units affordable to family households earning no more than 50% of the AMI; and thirty (30) of the units affordable to family households earning no more than 60% of the AMI. Office space within the development will be provided for use as a police substation which at a minimum will have room for a desk, phone, and computer that could be set up by the Santa Ana Police Department ("SAPD"), dependent upon their available staffing and resources. The unit mix consists of: Bedroom Size 30% AMI 50% AMI 60% AMI Manager's Unit Total Two Bedroom 6 3 10 1 20 Three Bedroom 8 2 19 29 Four Bedroom 1 1 2 Totals 15 5 30 1 51 On -site amenities will include a community plaza, an art center, urban farm, and mini park with outdoor gym and jogging track. Mercy House Living Centers ("Mercy House") will manage onsite residential services coordination for all households.