Laserfiche WebLink
funds into the Public Services Street Safety Projects, Improvements Other Than <br />Building expenditure account. (Requires five affirmative votes) <br />2. Award a construction contract to Elecnor Belco Electric, Inc., the lowest <br />responsible bidder, in accordance with the base bid in the amount of $493,244.76, for <br />construction of the Bristol Street and Santa Clara Avenue Traffic Signal Installation <br />Project, for the term beginning March 7, 2023, and ending upon project completion, <br />subject to non -substantive changes approved by the City Manager and City Attorney. <br />3. Approve the Project Cost Analysis for a total estimated construction delivery cost <br />of $616,555.95, which includes $493,244.76 for the construction contract; $73,986.71 <br />for contract administration, inspection and testing; and a $49,324.48 project <br />contingency for unanticipated or unforeseen work. <br />4. Approve an amendment to the FY 2022-23 Capital Improvement Program to <br />include $297,100 in construction funding from Highway Safety Improvement Program <br />grant funds and $320,000 in construction funding from General Funds approved in FY <br />22-23 proposed budget for the Bristol Street and Santa Clara Avenue Traffic Signal <br />Modification. <br />13. Approve a Loan Agreement with North Broadway Housing Partners LP (C/O <br />Jamboree Housing Corporation and WISEPIace) for a total of $5,256,327 for the <br />Development of the WISEPIace Permanent Supportive Housing Project Located at <br />1411 N Broadway; Approve a Subordination Agreement with Bank of America as the <br />Senior Lender; Approve Two (2) Subordination Agreements with the County of <br />Orange and the Orange County Housing Finance Trust, Respectively, as Junior <br />Lenders (Non -General Fund) <br />Department(s): Community Development Agency <br />Recommended Action: 1. Authorize the City Manager to execute a Loan <br />Agreement with North Broadway Housing Partners LP (c/o Jamboree Housing <br />Corporation and WISEPIace) for $5,256,327 in HOME Investment Partnerships <br />Program - American Rescue Plan ("HOME -ARP") funds for the development of the <br />WISEPIace Permanent Supportive Housing project located at 1411 N. Broadway, <br />Santa Ana, CA 92701, APN 398-523-04 ("Site") subject to non -substantive changes <br />approved by the City Manager and City Attorney (Agreement No. A-2023-XXX). <br />2. Authorize the City Manager to execute a Subordination Agreement with Bank of <br />America to subordinate the City's Loan Agreement to a senior loan, subject to non - <br />substantive changes approved by the City Manager and City Attorney (Agreement No. <br />A-2023-XXX). <br />3. Authorize the City Manager to execute two (2) Subordination Agreements with the <br />County of Orange ("County") and Orange County Housing Finance Trust ("OCHFT), <br />respectively, to subordinate the County and OCHFT's junior loan agreements to the <br />City's HOME -ARP Loan Agreement, subject to non -substantive changes approved by <br />the City Manager and City Attorney (Agreement Nos. A-2023-XXX and A-2023-XXX). <br />4. Authorize the City Manager to execute a future Subordination Agreement with <br />Jamboree Housing Corporation, WISEPIace, Bank of America and/or any other <br />senior lender as needed after the WISEPIace Permanent Supportive Housing project <br />Page 10 3/7/2023 <br />