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80B. APPROVAL OF CONDITIONAL LOAN COMMITMENT AND AWARD OF <br />$6,195,000 OF AFFORDABLE HOUSING FUNDS TO AMCAL MULTI - <br />HOUSING, INC FOR THE FIRST STREET APARTMENTS PROJECT <br />{STRATEGIC PLAN NO. 5, 3C) <br />The following spoke on the item: <br />• Karla Lopez del Rio, supports project and disappointed that some <br />councilmembers did not approve Agenda Item 75B. <br />• Apolonio Cortes, urges support for project that will mitigate high housing <br />costs and address needs. <br />• Cesar Covarrubias, Executive Director of Kennedy Commission, supports <br />project that is companion project to 2001 E. Dyer Road project; need to <br />provide housing for all. <br />• Joese Hernandez, representing OCCORD, stated for the record that they <br />support real affordable project; against tax subsidies - favor responsible <br />development. <br />CouncilmemberTinajero, motion to approve. <br />Councilmember Solorio, supports project; remainder of housing funds need to <br />develop a Plan on how to utilize; suggested a study session. <br />Councilmember Sarmiento, echoed thoughts, thanked speakers, the community <br />land trust funds may be leveraged for future project and would instill goodwill <br />with the community. <br />Mayor Pulido, indicated that Councilmember Villegas alluded earlier that when <br />project funded in this manner, the City is more at risk; concerned with sole <br />source; asked if appropriation adjustment requires five affirmative votes. Matter <br />will be forthcoming when the loan agreements are considered by the City <br />Council. <br />MOTION: <br />1. AGMT NO.2016-380 - Authorize the City Manager to execute a conditional <br />loan commitment letter for $2,600,000 of inclusionary housing in -lieu fees <br />anticipated from the Heritage Village OC, LLC in order to reduce the <br />$8,795,000 previously approved by City Council on April 19, 2016, that <br />will be contingent on the City's actual receipt of an in -lieu fee payment of <br />$2,600,000 from Heritage Village OC, LLC. <br />2. Authorize the City Manager/Executive Director and the City Attorney to <br />draft loan agreements for future City Council consideration in an amount <br />not to exceed $2,600,000 for the First Street Apartments Project. <br />MOTION: Tinajero SECOND: Solorio <br />VOTE: AYES: Sarmiento, Solorio, Tinajero, Villegas (4) <br />CITY COUNCIL MINUTES 35 DECEMBER 20, 2016 <br />