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Community Development Agency <br />https://www.santa-ana.org/cd <br />Item # 68 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br />June 21, 2022 <br />TOPIC: Crossroads at Washington Affordable Housing Project at 1126, 1136, & 1146 <br />East Washington Avenue <br />AGENDA TITLE: <br />Public Hearing - For the Crossroads at Washington affordable housing project located at <br />1126, 1136, & 1146 East Washington Avenue: Approve two Loan Agreements for a total <br />combined amount of $4,644,909 and a Development Impact Fee Deferral Agreement with <br />Washington Santa Ana Housing Partners, L.P.; Approve two Subordination Agreements <br />with U.S. Bank and the County of Orange; Approve an Additional Award of up to Eight <br />Project-Based Vouchers for a combined total of 15 Project-Based Vouchers; Approve <br />revisions to the joint sixty-five (65) year Ground Lease with Washington Santa Ana <br />Housing Partners, L.P. and the County of Orange; and Approve a draft Land Use <br />Covenant and Equitable Community Revitalization Grant Agreement with the State of <br />California Department of Toxic Substances Control (Non-General Fund) (Contingent <br />upon approval of Housing Authority Item # 5) <br />RECOMMENDED ACTION <br />CITY COUNCIL <br />1. Authorize the City Manager to execute a Loan Agreement with Washington Santa Ana <br />Housing Partners, L.P. for $3,007,489 in HOME Investment Partnerships Program <br />funds for the development of the Crossroads at Washington affordable housing project <br />located at 1126, 1136, & 1146 East Washington Avenue, Santa Ana, CA 92701, <br />(APNs 398-092-14 and 398-092-13) subject to non-substantive changes approved by <br />the City Manager and City Attorney. <br />2. Authorize the City Manager to execute a Loan Agreement with Washington Santa Ana <br />Housing Partners, L.P. for $1,637,420 in Neighborhood Stabilization Program funds <br />for the development of the Crossroads at Washington affordable housing project <br />located at 1126, 1136, & 1146 East Washington Avenue, Santa Ana, CA 92701, <br />(APNs 398-092-14 and 398-092-13) subject to non-substantive changes approved by <br />the City Manager and City Attorney. This Loan Agreement includes $339,727 in <br />additional Neighborhood Stabilization Program funds to pay for an unanticipated <br />increase in development costs.