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Loan Agreement — CDBG and Inclusionary Housing Funds Santa Ana Arts Collective, LP <br />February 2, 2016 <br />Page 4 <br />currently underutilized or vacant for mixed -use residential projects), and Strategy C (Provide that <br />Santa Ana residents, employees, artists and veterans receive priority for affordable housing <br />created under the City's Housing Opportunity Ordinance or with City funding to the extent allowed <br />under state law). <br />FISCAL IMPACT <br />The CDBG Program and Inclusionary Housing funds are projected to be spent in the following <br />fiscal year as follows: <br />Funding Source <br />Grant Year <br />Fiscal Year <br />Account No. <br />Amount <br />CDBG Program <br />2015 <br />2016 -2017 <br />13518782 -69152 <br />$500,000 <br />Inclusionary Housing <br />N/A <br />2016 -2017 <br />41718820 -69152 <br />$1,875,000 <br />Kelly Reenders <br />Executive Director <br />Community Development Agency <br />KR/JB /NV /II <br />TOTAL: $2,375,000 <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Francisco Gutierrez SA, <br />Executive Director <br />Finance and Management Services Agency <br />Exhibits: 1. Location Map <br />2. Inclusionary Housing and CDBG Loan Agreement <br />25B -4 <br />