Laserfiche WebLink
2/14/13 LES <br />F. The amount currently owed to the LMIHF is $5,568,314. <br />G. Health & Safety Code sections 34180 (a) and 34171(d)(1)(G) provide that <br />the repayment of this loan from the LMIHF must be approved by the Successor Agency, <br />after approval of the Oversight Board, and the Oversight Board must establish and <br />approve repayment schedules or other mandatory loan terms. Additionally, funds are to <br />be repaid to the LMIHF in the manner prescribed in HSC Section 34176(e)(6)(B). <br />H. The Successor Agency and Oversight Board previously recognized and <br />approved the existing Supplemental Education Revenue Augmentation Fund (SERAF) <br />and Education Revenue Augmentation Fund (ERAF) loans as part of the Recognized <br />Obligations Payment Schedules (ROPS); and are concurrently considering the subject <br />loans as part of ROPS 13-14A. <br />Section 2. The Successor Agency hereby resolves and orders that the amount loaned <br />by the former Community Redevelopment Agency of the City of Santa Ana from the Low and <br />Moderate Income Housing Fund be repaid to the Successor Housing Agency per the attached <br />repayment schedule, attached hereto as Exhibit A and incorporated herein by this reference, <br />and be included on future Recognized Obligation Payment Schedules. <br />Section 3. The Clerk of the Council shall certify to the adoption of this Resolution. <br />2 <br />4-8