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<br /> <br />DRAFT HOUSING AUTHORITY MINUTES 3 September 17, 2019 <br /> <br />subject to non-substantive changes approved by the City Manager and City <br />Attorney(Agreement No. A-2019-169). <br /> <br />HOUSING AUTHORITY ACTION <br /> <br />1. Authorize the Executive Director of the Housing Authority to execute an <br />Amended and Restated Loan Agreement with Cornerstone Housing Partners LP <br />(c/o Jamboree Housing Corporation) for $2,054,327 in Housing Successor <br />Agency funds by consolidating and replacing thirty-three existing Housing <br />Successor Agency loans in order to rehabilitate 126 units of existing affordable <br />housing at 805, 810, 815, 816, 825, 828, 835, and 904 S. Minnie Street, Santa <br />Ana, California, subject to non-substantive changes approved by the Executive <br />Director and Authority General Counsel. <br /> <br />2. Authorize the Executive Director of the Housing Authority to execute a <br />Subordination Agreement with MUFG Union Bank, N.A., for the Housing <br />Authority’s Amended and Restated Housing Successor Agency Loan Agreement <br />with Cornerstone Housing Partners LP (c/o Jamboree Housing Corporation), <br />subject to non-substantive changes approved by the Executive Director and <br />Authority General Counsel. <br /> <br />Councilmember Solorio motioned to approve, seconded by Mayor Pulido. <br /> <br />MOTION: Councilmember <br />Solorio <br />SECOND: Mayor Pulido <br /> <br />VOTE: AYES: Mayor Pulido, Mayor Pro Tem Villegas, <br />Councilmember Iglesias, Councilmember <br />Penaloza, Councilmember Solorio, <br />Councilmember Sarmiento (6) <br /> <br /> NOES: None (0) <br /> <br /> ABSTAIN: None (0) <br /> <br /> ABSENT: None (None) <br /> <br /> <br /> <br /> <br /> <br /> <br />END OF BUSINESS CALENDAR <br /> <br />COMMENTS <br /> <br />3. HOUSING AUTHORITY MEMBER COMMENTS - None. <br /> <br />1-3