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LES 11.28.12 <br />RESOLUTION NO. 2012-04 <br />A RESOLUTION OF THE HOUSING AUTHORITY OF THE CITY OF SANTA ANA <br />AUTHORIZING THE EXECUTION AND DELIVERY OF MULTIFAMILY HOUSING <br />REVENUE NOTES IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED <br />$30,000,000 FOR THE FINANCING OF A MULTIFAMILY RENTAL HOUSING <br />PROJECT; DETERMINING AND PRESCRIBING CERTAIN MATTERS AND <br />APPROVING AUTHORIZING THE EXECUTION OF AND DELIVERY OF VARIOUS <br />DOCUMENTS RELATED THERETO; RATIFYING ANY ACTION HERETOFORE TAKEN <br />AND APPROVING RELATED MATTERS IN CONNECTION THEREWITH <br />BE IT RESOLVED BY THE HOUSING AUTHORITY OF THE CITY OF SANTA <br />ANA AS FOLLOWS: <br />Section 1. The Housing Authority of the City of Santa Ana hereby finds, determines <br />and declares as follows: <br />A. The Housing Authority of the City of Santa Ana (the "Authority") is <br />authorized by Chapter 1 of Part 2 of Division 24 of the California Health and Safety <br />Code (the "Act") to execute and deliver revenue obligations and make loans to any <br />person, firm, partnership or corporation licensed to do business in the State of California <br />in the financing of multifamily rental housing projects for persons of low and very low <br />income. <br />B. Washington Place Partners, LP, a California limited partnership (the <br />"Borrower"), has requested the Authority execute and deliver its Housing Authority of <br />the City of Santa Ana Multifamily Housing Real Estate Note (Flower Terrace) 2012 <br />Series A-1 and its Housing Authority of the City of Santa Ana Multifamily Housing <br />Revenue Housing Revenue IRP Note (Flower Terrace) 2012 Series A-2 (collectively, <br />the "Notes"), and loan the proceeds thereof to the Borrower to finance the acquisition <br />and rehabilitation of a 200-unit multifamily rental housing development, located at 1401 <br />N. Flower Street in the City of Santa Ana, California, currently known as Wycliffe Plaza <br />and to be commonly known as the Flower Terrace or such other name as may be <br />agreed upon by the Authority and the Borrower (the "Project"). <br />C. The Authority hereby finds and declares that this resolution is being <br />adopted pursuant to the powers granted by the Act. <br />D. All conditions, things and acts required to exist, to have happened and to <br />have been performed precedent to and in connection with the execution and delivery of <br />the Notes as contemplated by this resolution and the documents referred to herein will <br />HA Resolution No. 2012-04 <br />Page 1 of 4