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Extensionts) of Contract far Housing <br />Assistance Payments CA16-8023-054 <br />May 3, 1999 <br />Page 2 <br />The Santa Ana Towers remains a valuable source of affordable housing for <br />Santa Ana seniors and disabled persons. The only alternative considered <br />is to execute the contract with HUD providing for the continuum of rental <br />assistance payments for the benefit of the eligible seniors and <br />handicapped persons currently residing at the Santa Ana Towers. <br />~'zSCAL IMPACT <br />Any extension to the contract will provide additional Housing Assistance <br />funds which will be available in the Section 8 New Construction Project <br />account (account no. 139-x.32-b992). <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Cynthia J. Nelson Rad R. Coloma <br />Executive Director Executive Director <br />Finance & Management Services Agency,~~ <br />H :Acti ans199haltoweracl <br />