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Community Development Agency <br />santa-ana.org/cd <br />Item # 39 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br />May 17, 2022 <br />TOPIC: Affordable Housing Project at 2530 & 2534 Westminster Avenue <br />AGENDA TITLE: <br />Public Hearing - Approve three Loan Agreements with Westview House L.P. (c/o <br />Community Development Partners) for a total of $3,904,341 for the development of the <br />Westview House affordable housing project located at 2530 & 2534 Westminster Avenue; <br />Approve a Subordination Agreement with Umpqua Bank; Conduct a TEFRA Hearing and <br />Adopt a Resolution Approving the Issuance of Bonds (Non-General Fund). <br />RECOMMENDED ACTION <br />1. Authorize the City Manager to execute a Loan Agreement with Westview House <br />L.P. (c/o Community Development Partners) for $2,003,705 in HOME Investment <br />Partnerships Program funds for the development of the Westview House <br />affordable housing project located at 2530 & 2534 Westminster Avenue, Santa <br />Ana, CA 92701 (APNs 198-132-21 and 198-132-23), subject to non-substantive <br />changes approved by the City Manager and City Attorney. <br />2. Authorize the City Manager to execute a Loan Agreement with Westview House <br />L.P. (c/o Community Development Partners) for $1,514,113 in Inclusionary <br />Housing funds for the development of the Westview House affordable housing <br />project located at 2530 & 2534 Westminster Avenue, Santa Ana, CA 92701 (APNs <br />198-132-21 and 198-132-23), subject to non-substantive changes approved by the <br />City Manager and City Attorney. <br />3. Authorize the City Manager to execute a Loan Agreement with Westview House <br />L.P. (c/o Community Development Partners) for $386,523 in Rental Rehabilitation <br />Program Funds for the development of the Westview House affordable housing <br />project located at 2530 & 2534 Westminster Avenue, Santa Ana, CA 92701 (APNs <br />198-132-21 and 198-132-23), subject to non-substantive changes approved by the <br />City Manager and City Attorney. <br />4. Authorize the City Manager to execute a Subordination Agreement with Umpqua <br />Bank, to subordinate the City’s three Loan Agreements to a senior loan, subject to <br />non-substantive changes approved by the City Manager and City Attorney.