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4. Approve a $1,656,947 Loan Agreement and a 99-year Ground Lease with Shelter <br />Providers of Orange County, Inc. DBA HomeAid Orange County, Inc. for the <br />Development of the FX Residences Affordable Housing Project Located at 801, 807, <br />809 and 809 1/2E. Santa Ana Blvd. (Non -General Fund) (Contingent upon approval of <br />City Council Item #16). <br />Department(s): Community Development Agency <br />Recommended Action: 1. Approve an amended award of $587,000 in additional <br />funds from the Low and Moderate Income Housing Asset Fund for the development of <br />the FX Residences affordable housing project located at 801, 807, 809 and 809 1/2E. <br />Santa Ana Blvd. to offset a portion of the additional construction costs associated with <br />the project since approval of the pre -loan commitment for the project by the Housing <br />Authority on January 15, 2019. <br />2. Authorize the Executive Director of the Housing Authority to execute a Loan <br />Agreement with Shelter Providers of Orange County, Inc. DBA HomeAid Orange <br />County, Inc. for $1,656,947 in Low and Moderate Income Housing Asset Funds for the <br />development of the FX Residences affordable housing project located at 801, 807, 809 <br />and 809'/ E. Santa Ana Blvd., subject to non -substantive changes approved by the <br />Executive Director of the Housing Authority and Authority General Counsel. <br />3. Authorize the Executive Director of the Housing Authority to execute a ninety-nine <br />(99) year Ground Lease with Shelter Providers of Orange County, Inc. DBA HomeAid <br />Orange County, Inc., for the development of the FX Residences affordable housing <br />project located at 801, 807, 809 and 809'/ E. Santa Ana Blvd, subject to non - <br />substantive changes approved by the Executive Director of the Housing Authority and <br />Authority General Counsel. <br />4. Authorize the Executive Director of the Housing Authority to execute a future <br />Subordination Agreement with a senior lender for the development of the FX <br />Residences affordable housing project, subject to non -substantive changes approved <br />by the City Manager and City Attorney. <br />0• - 0 0' •ivi I ivi 1 :11 L1 <br />ADJOURNMENT — Adjourn the Housing Authority meeting. <br />City Council 19 12/7/2021 <br />