Item 03 - Pre-Commitment of Affordable Housing Funds for Jamboree Housing

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Pre-Commitment of Affordable Housing Funds for Jamboree Housing Corporation and WISEPlace; Density Bonus Agreement; Loan Forgiveness June 21, 2022 Page 11 2 8 1 6 live and/or work in the City of Santa Ana or who have an active Housing Choice Voucher. Onsite Supportive Services, Programs and Amenities. Developer shall provide residents of the Project, or cause to be provided to residents of the Project, access to discounted or no-cost onsite supportive services, programming and amenities that promote independent living and economic mobility and include but are not limited to health and wellness services, social activities, and physical or recreational amenities. Maintenance. Owner shall, at all times during the term of this Agreement, cause the Property and the Project to be maintained in a decent, safe and sanitary manner, regardless of cause of the disrepair, to the extent commercially reasonable. Onsite Parking Management Plan. Developer has agreed to provide twenty (20) onsite parking stalls for residents and visitors of the Project and actively monitor the parking demand of the Project site. Developer shall continually monitor and take commercially reasonable measures to manage the parking demand of the Project site - to mitigate the use of offsite parking spaces on private or public properties and/or right-of-way. Prior to issuance of the Certificate of Occupancy, Developer shall submit and obtain approval from the Planning and Building Agency of a Parking Management Plan ("PMP") to address the parking demands of the Project. The approved PMP shall be adhered to and be enforced by the Project at all times. The Density Bonus Agreement has been pre-signed by the developer indicating their acceptance of the terms. The agreement is not considered final until the City Council has reviewed and approved the agreement, and the agreement is executed by all parties. CDBG Loan Forgiveness In 1993, the former Community Redevelopment Agency of the City of Santa Ana (“Former Agency”) provided WISEPlace, formerly known as the YWCA of South Orange County, a $50,000 predevelopment loan of tax increment funds for the purposes of developing a Single Room Occupancy Hotel (“SRO”) project on the site. However, this project was deemed financially infeasible by the Former Agency, and in August 1999, the $50,000 predevelopment loan was forgiven by the Former Agency. In 1996, the City provided WISEPlace a $900,000 loan of Community Development Block Grant (“CDBG”) funds (“CDBG Loan”) to finance the rehabilitation of the site for the purposes of providing permanent affordable rental housing. The CDBG Loan was structured with a 55-year term and a 1% simple interest rate. The loan repayments were to be made from 50% of the project’s residual receipts. In 2001, the City amended the terms of the CDBG Loan. At that time, the outstanding principal balance of the loan was set at $916,265, which consisted of two components: