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<br /> <br />HOUSING AUTHORITY ACTION <br /> <br /> RECOMMENDED ACTIONS: Receive and file. <br /> <br /> <br />80B. APPROVAL OF CONDITIONAL LOAN COMMITMENT AND AWARD OF <br />$6,195,000 OF AFFORDABLE HOUSING FUNDS TO AMCAL MULTI-HOUSING, <br />INC FOR THE FIRST STREET APARTMENTS PROJECT {STRATEGIC PLAN NO. <br />5, 3C} <br /> <br />CITY COUNCIL <br /> <br /> RECOMMENDED ACTIONS: <br /> <br /> <br />1.AGMT - Authorize the City Manager to execute a conditional loan commitment <br />letter for $2,600,000 of inclusionary housing in-lieu fees anticipated from the <br />Heritage Village OC, LLC in order to reduce the $8,795,000 previously approved by <br />City Council on April 19, 2016, that will be contingent on the City’s actual receipt of <br />an in-lieu fee payment of $2,600,000 from Heritage Village OC, LLC. <br /> <br /> <br />2.Authorize the City Manager/Executive Director and the City Attorney to draft loan <br />agreements for future City Council consideration in an amount not to exceed <br />$2,600,000 for the First Street Apartments Project. <br /> <br />HOUSING AUTHORITY <br /> <br />RECOMMENDED ACTIONS: <br /> <br /> <br />1.Award $6,195,000 in Housing Successor Agency funds to AMCAL Multi-Housing, <br />Inc for the First Street Apartments Project located at 1440 East First Street in Santa <br />Ana as provided in the pre-commitment letter. <br /> <br /> <br />2.Authorize the City Manager/Executive Director and the City Attorney to draft loan <br />agreements for future Housing Authority consideration in an amount not to exceed <br />$6,195,000 for the First Street Apartments Project. <br /> <br /> <br /> <br />SPECIAL MEETING OF THE <br />HOUSING AUTHORITY (Blue Agenda) <br /> <br /> <br /> <br />COMMENTS <br /> <br /> <br />PUBLIC COMMENTS (If not considered by the Chair at an earlier time. Please refer to Basic City <br />Council Meeting Information page for details). <br />CITY COUNCIL AGENDA 20 DECEMBER 20, 2016 <br /> <br /> <br />