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Iss9/14/2004 RESOLUTION NO. CRA 2004 -12 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AUTHORIZING THE SUBMITTAL OF AN APPLICATION TO THE CALIFORNIA HOUSING FINANCE AGENCY FOR FUNDING UNDER THE HELP PROGRAM BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS: 1. The Community Redevelopment Agency of the City of Santa Ana hereby finds, determines and declares as follows: A. The Agency wishes to apply for and receive an allocation of funds from the California Housing Finance Agency ( "CaIHFA ") through the Housing Enabled by Local Partnerships ( "HELP ") Program; and B. CaIHFA has announced the availability of funds through the HELP Program. The HELP Program offers a three percent (3 %) loan to local government agencies for locally determined affordable housing activities and priorities C. The Agency wishes to submit an application to CaIHFA for a $2,000,000.00 HELP Program loan. 2. The Community Redevelopment Agency of the City of Santa Ana approves the submittal of an application to CaIHFA through the HELP Program to request an allocation of Two Million Dollars ($2,000,000.00) for the acquisition of 1029, 1101, 1122 and 1126 South Minnie Street. 3. The Community Redevelopment Agency of the City of Santa Ana authorizes the Executive Director of the Community Redevelopment Agency, in the name of the Agency, to execute the Application, to incur indebtedness and execute the Loan Agreement, to commit Agency resources as detailed in the proposal and to take other actions necessary to facilitate the proposed program. 4. If the application is approved, the Community Redevelopment Agency of the City of Santa Ana agrees to use the HELP Program loan for eligible activities in the manner presented in the application as approved by CaIHFA and in accordance with program guidelines. 4 -5