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940 S. MINNIE, LP - 2014
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940 S. MINNIE, LP - 2014
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Last modified
7/7/2014 3:04:49 PM
Creation date
7/7/2014 3:02:07 PM
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Contracts
Company Name
940 S. MINNIE, LP
Contract #
A-2014-077
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
3/18/2014
Insurance Exp Date
9/1/2014
Destruction Year
0
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RECORDING REQUESTED BY <br />AND WHEN RECORDED RETURN TO: <br />City of Santa Ana <br />Community Development Agency <br />Housing Department M -37 <br />20 Civic Center Plaza, 6th Floor <br />P.O. Box 1988 <br />Santa Ana, California 92702 <br />lac . ...... <br />L <br />SPACE ABOVE THIS LINE FOR RECORDING USE <br />FREE RECORDING REQUESTED <br />[Government Code Section 6103] <br />AFFORDABILITY RESTRICTIONS <br />ON TRANSFER OF PROPERTY <br />(940 S. Minnie Street, Santa Ana, CA) <br />THESE AFFORDABLE HOUSING RESTRICTIONS ON TRANSFER OF <br />PROPERTY (the "Restrictions ") are entered into as of May 19, 2014, by and among and <br />940 Minnie, L.P., (referred to herein as the "Developer ") a California limited partnership, <br />the City of Santa Ana, a charter city and municipal corporation (the "City"). <br />RECITALS: <br />A. Developer is the owner of that certain real property located at 940 South <br />Minnie Street, (the "Property ") located in the City of Santa Ana more particularly <br />described in Exhibit A, which is attached hereto and incorporated herein by this reference. <br />B. For the purpose of providing eight units of housing that will be affordable to <br />Very Low Income households ( "Assisted Units "), the Developer, the City have entered <br />into that certain Loan Agreement, dated on or about the date hereof (the "Loan <br />Agreement") to which these Restrictions are attached as Exhibit G, which, along with all <br />of its attachments, is incorporated herein by this reference (any capitalized tern that is not <br />otherwise defined in these Restrictions shall have the meaning ascribed to such term in the <br />Loan Agreement). <br />C. The Loan Agreement provides, among other things, for the use of the Property <br />for affordable housing with all Assisted Units being restricted to Very Low Income <br />households, at Affordable Rent(s). <br />D. The Loan Agreement contains certain provisions relating to the use of the <br />Property. <br />1of12 <br />
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