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Application Package, and Standard Agreement. HCD is authorized to <br />administer the approved funding allocations of the AHSC Program. <br />E. The City of Santa Ana wishes to support Meta Housing Corporation's <br />( "Developer") application to receive an allocation of $12,028,626 in grant <br />and loan funds through the AHSC Program as joint applicants of the Santa <br />Ana Arts Collective project, a mixed -use, multi - family, adaptive reuse and <br />new construction affordable housing development. The Application <br />comprised of $7,833,126.00 is requested as a loan for an Affordable <br />Housing Development (AHD) ( "AHSC Loan ") and $4,195,500.00 is <br />requested for a grant for Housing - Related (HRI), Sustainable <br />Transportation Infrastructure (STI), Transit - Related Amenities (TRA) or <br />Program (PGM) activities ( "AHSC Grant ") as defined the AHSC Program <br />Guidelines adopted by SGC on December 17, 2015, <br />F. If the application is approved, the City is hereby authorized and directed to <br />enter into, execute, and deliver a State of California Standard Agreement <br />in a total amount not to exceed $12,028,626 ($7,833,126 for the AHSC <br />Loan and $4,195,500 for the AHSC Grant), and any and all other <br />documents required or deemed necessary or appropriate to secure the <br />AHSC Program funds for the Department, and all amendments thereto <br />(collectively, the "AHSC Documents "). <br />G. The City of Santa Ana provided the Developer with a residual receipts <br />loan in an amount not to exceed $4,635,000 in support of the <br />development. <br />Section 2. The City Manager, or his designee, is authorized and empowered <br />to execute in the name of the City of Santa Ana all necessary applications, contracts, <br />payment requests, agreements, amendments or any other documents related to, and in <br />furtherance of, the Developer's application for the purposes of securing funds and to <br />carry out the purposes specified in the AHSC application and agreement. <br />Section 3. This Resolution shall take effect immediately upon its adoption by <br />the City Council, and the Clerk of the Council shall attest to and certify the vote adopting <br />this Resolution. <br />ADOPTED this 7"' day of June, 2016. <br />Resolution No 2016 -046 <br />Page 2 of 3 <br />