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2019-09-17 HA
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2019-09-17 HA
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3/18/2021 10:47:41 AM
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City Clerk
Doc Type
Minutes
Agency
Community Development
Date
9/17/2019
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subject to non -substantive changes approved by the City Manager and City <br />Attorney(Agreement No. A-2019-169). <br />HOUSING AUTHORITY ACTION <br />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 />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 />Councilmember Solorio motioned to approve, seconded by Mayor Pulido. <br />MOTION: Councilmember SECOND: Mayor Pulido <br />Solorio <br />VOTE: AYES: <br />Mayor Pulido, Mayor Pro Tern Villegas, <br />Councilmember Iglesias, Councilmember <br />Penaloza, Councilmember Solorio, <br />Councilmember Sarmiento (6) <br />NOES: <br />None (0) <br />ABSTAIN: <br />None (0) <br />ABSENT: <br />None (None) <br />END OF BUSINESS CALENDAR <br />COMMENTS <br />3. HOUSING AUTHORITY MEMBER COMMENTS - None. <br />HOUSING AUTHORITY MINUTES 3 September 17, 2019 <br />
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