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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JUNE 7, 2016 <br />TITLE; <br />RESOLUTION AUTHORIZING SUBMITTAL <br />OF AN APPLICATION AS A JOINT <br />APPLICANT WITH META HOUSING <br />CORPORATION FOR THE AFFORDABLE <br />HOUSING AND SUSTAINABLE <br />COMMUNITIES PROGRAM <br />(STRATEGIC PLAN NO. 5, 3 & 6) <br />CITY MANAG — <br />RECOMMENDED ACTION <br />CLERIC OF COUNCIL USE ONLY: <br />:•-• k <br />As Recommended <br />❑ As Amended <br />EJ Ordinance on 1a0 Reading <br />Ordinance on 2no Reading <br />® Implementing Resolution <br />�j Set Public Hearing For_ <br />CONTINUED TO <br />FILE NUMBER <br />Adopt a resolution authorizing submittal of a funding application as a joint applicant with Meta <br />Housing Corporation for the Affordable Housing and Sustainable Communities Program in the <br />amount not to exceed $12,028,626 of which $7,833,126 is requested as a loan for Affordable <br />Housing Development and $4,195,500 is requested for a grant for Sustainable Transportation <br />Infrastructure Project for the Santa Ana Arts Collective Project, subject to non - substantive <br />changes approved by the City Manager and City Attorney. <br />DISCUSSION <br />On January 29, 2016, the California Department of Housing and Community Development <br />(HCD) announced the availability of approximately $320 million in funding for the Affordable <br />Housing and Sustainable Communities Program (AHSC), also known as the Cap & Trade <br />Program. The AHSC Program funds are offered through a Notice of Funding Availability (NOFA) <br />application that provides funding for projects that reduce greenhouse gas emissions by <br />supporting more compact, infill development patterns, encouraging active transportation and <br />transit usage, and protecting agricultural land from sprawl development. Funding for the AHSC <br />Program is provided from the Greenhouse Gas Reduction Fund, an account established to <br />receive the California Cap- and -Trade Program auction proceeds. <br />Meta Housing Corporation (Developer) successfully submitted a concept proposal in March 2016 <br />and was invited to submit a full application by June 20, 2016. The Developer's full application for <br />AHSC funds is for $12,028,626, of which $7,833,126 is requested as a loan for an Affordable <br />Housing Development (AHD) (AHSC Loan) and $4,195,500 is requested for a grant for Housing - <br />Related Infrastructure (HRI), Sustainable Transportation Infrastructure (STI), Transit - Related <br />Amenities (TRA) or Program (PGM) activities (AHSC Grant). <br />55G -1 <br />