55A - RESO - SUPPORT DEVELOPERS AFFORDABLE HOUSING

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E. The City of Santa Ana wishes to support Orange Housing Development Corporation and C &C Development Co., LLC's ( "Developers ") application to receive an allocation of $3,925,000 in grant and loan funds through the AHSC Program as joint applicants of the Depot at Santiago project, a mixed -use, multi - family, new construction affordable housing development. F. The City of Santa Ana provided the Developer with a residual receipts loan in the amount of $3,000,000 in support of the development. Section 2. The City Manager, or his designee, is authorized and empowered to execute in the name of the City of Santa Ana all necessary applications, contracts, payment requests, agreements, amendments or any other documents related to, and in furtherance of, the Developers' application for the purposes of securing funds and to carry out the purposes specified in the AHSC application and agreement. Section 3. If the application for funding is approved, and the Developers are awarded grant funds for Transportation Related Infrastructure, the City of Santa Ana will enter into a contract with the Developers to utilize those AHSC grant funds in an amount up to $400,000 to develop the Transportation Related Infrastructure component of the project, which involves the installation of crossing treatments at the Lacy Street and Garfield Street intersections of Santa Ana Boulevard to increase the visibility of, and decrease the crossing distance for, pedestrians and to notify motorists of the presence of pedestrians crossing. Section 4. This Resolution shall take effect immediately upon its adoption by the City Council, and the Clerk of the Council shall attest to and certify the vote adopting this Resolution. ADOPTED this _ day of April, 2015. AS TO FORM: Sonia City � Ryan C Assista Miguel A. Pulido Mayor 55A -4 Resolution No. 2015 -xxx Page 2 of 3