2020-004 - Submittal of an Application for Funding Under the Affordable Housing

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Application Package, and Standard Agreement. HCD is authorized to administer the approved funding allocations of the AHSC Program. E. On December 4, 2018, the Housing and Neighborhood Development Division recommended the award of a pre -loan commitment to the Developer of Inclusionary Housing Funds not to exceed $3,170,547 and eight (8) HUD-VASH Project -Based Vouchers (PBVs). Section 2. The City of Santa Ana wishes to support National Community Renaissance of California ("Developer") application to receive an allocation not to exceed $30,000,000 in funds through the AHSC Program for the development of a multi -family new construction affordable housing development and transportation related infrastructure. The Application comprises of a request for a loan (the "AHSC Loan") not to exceed $18,000,000 for an Affordable Housing Development (AHD) and a grant (the "AHSC Grant") in an amount not to exceed $12,000,000 for Housing -Related Infrastructure (HRI), Sustainable Transportation Infrastructure (STI), Transit -Related Amenities (TRA) or Program (PGM) activities as defined in the AHSC Program Guidelines adopted by SGC on October 31, 2019. Section 3. If the application for AHSC funding is approved, and the Developers are awarded AHSC funds for Transportation Related Infrastructure, the City of Santa Ana will enter into a contract with the Developer to utilize those funds in an amount up to $2,000,000 to develop specific improvements of the Transportation Related Infrastructure component of the project, which involves bicycle, pedestrian and mobility improvements. More specifically, the proposed improvements include a bikeway installation, crosswalk enhancements, sidewalk improvements, urban greening and traffic calming within the project area. These improvements will be described in more detail in the Final Application to be submitted by February 11, 2020 (collectively, the "AHSC Application"). Section 4. The City Manager, or her designee, is authorized and empowered to execute in the name of the City of Santa Ana all necessary applications, contracts, payment requests, agreements, amendments or any other documents related to, and in furtherance of, the Developer's application for the purposes of securing funds and to carry out the purposes specified in the AHSC application and agreement. Section 5. This Resolution shall take effect immediately upon its adoption by the City Council, and the Clerk of the Council shall attest to and certify the vote adopting this Resolution. ADOPTED this 4th day of February, 2020. Resolution No. 2020-004 Page 2 of 3