Item 68 - Crossroads at Washington Affordable Housing Project at 1126, 1136, & 1146 East Washigton Ave.

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1 The Crossroads at Washington City HOME Loan Agreement LOAN AGREEMENT HOME PROGRAM THIS LOAN AGREEMENT (the "Agreement") dated, for identification purposes only, as of June 21, 2022, is made and entered into by and between the City of Santa Ana, a charter city and municipal corporation (referred to herein as “City”) and Washington Santa Ana Housing Partners, L.P., a California limited partnership (referred to herein as “Developer”), with reference to the following: RECITALS: A. City has received an allocation of funds from the United States Department of Housing and Urban Development ("HUD") under the HOME Investment Partnerships Program (the "HOME Program") (42 U.S.C. §12701, et seq.,) to be used in accordance with applicable statutory requirements and regulations (the "HOME Regulations") (24 CFR Part 92); B. The Housing Authority of the City of Santa Ana (“Housing Authority”) owns one parcel located at 1136 East Washington Avenue (APN 398-092-14) totaling approximately 1.43 acres of land area (“Housing Authority Parcel”). The County of Orange (“County”) owns an adjacent parcel (APN 398-092-13) totaling approximately 0.85 acres of land area (“County Parcel”). The two parcels will be merged into one parcel (“Property”) and co- owned by the Housing Authority and the County as Tenants-In-Common. C. The Housing Authority and the County will ground lease the Property to the Developer (the “Ground Lease”) for sixty-two (62) years from the Certificate of Completion, but no more than sixty-five (65) years from the date of execution of the Ground Lease. D. In furtherance of the HOME Program, Developer has applied to the City for a loan with which to: 1. provide deeper affordability for a longer term, as well as acquire and construct the Property, and 2. thereafter to maintain, operate and professionally manage the Property as decent, safe, sanitary and affordable rental housing. E. City, on certain terms and conditions, desires to make such loan to Developer in order to make possible the construction of the Property, to expand the supply of decent, safe, sanitary and affordable housing. F. If there is any discrepancy between Federal and State guidelines with regard to any of the terms and conditions contained herein, the more stringent shall apply. G. This Agreement and all of its attachments shall be enforceable by City in accordance with the terms thereof. Each of the Agreement, the Affordability Restrictions on Transfer of Property, the City/HOME Loan Note and the City/HOME Loan Deed of EXHIBIT 5