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RECOMMENDED ACTION: Receive and File. <br />*** END OF CONSENT CALENDAR *** <br />BUSINESS CALENDAR <br />JOINT SESSION OF THE CITY COUNCIL AND THE HOUSING AUTHORITY <br />5. CITY OF SANTA ANA CONDITIONAL LOAN AGREEMENT AND HOUSING <br />SUCCESSOR AGENCY LOAN AGREEMENT WITH AMCAL MULTI -HOUSING, <br />INC. FOR TEE FIRST STREET APARTMENTS PROJECT; AND APPROPRIATION <br />ADJUSTMENTS FOR LOAN AGREEMENTS {STRATEGIC PLAN NO. 5, 3C} <br />At its regular meeting on January 25, 2017, by a vote of 6-0 the Community <br />Redevelopment and Housing Commission recommended that the City Council and <br />Housing Authority approve the recommended actions. <br />HOUSING AUTHORITY RECOMMENDED ACTION <br />1. AGMT - Authorize the City Manager/ Executive Director to execute a loan <br />agreement with AMCAL Multi -Housing, Inc. for $6,195,000 in Housing Successor <br />Agency funds, to create 69 units of affordable housing at 1440 East First Street in <br />Santa Ana, subject to non -substantive changes approved by the City <br />Manager/Executive Director and City Attorney. <br />CITY COUNCIL ACTION RECOMMENDED ACTIONS: <br />1. AGMT - Authorize the City Manager and the Clerk of the Council to execute a <br />conditional loan agreement with AMCAL Multi -Housing, Inc. for $2,600,000 in <br />inclusionary housing in -lieu fees anticipated from the Heritage Village OC, <br />LLC, that will be contingent on the City's actual receipt of an in -lieu fee <br />payment of $2,600,000 from Heritage Village OC, LLC, to create 69 units of <br />affordable housing at 1440 East First Street in Santa Ana, subject to non - <br />substantive changes approved by the City Manager and City Attorney. <br />2. Approve an appropriation adjustment. (Requires five affirmative votes) <br />APPROPRIATION ADJUSTMENT NO. 2017-085 - Recognizing $2,600,000 <br />inclusionary housing in -lieu fees from Heritage Village OC, LLC for deposit into <br />Inclusionary Housing Fund revenue account and appropriating same to the Loans and <br />Grants expenditure account for the $2,600,000 conditional loan agreement with <br />AMCAL Multi -Housing, Inc. <br />3. Approve an appropriation adjustment. (Requires five affirmative votes) <br />HOUSING AUTHORITY AGENDA 4 FEBRUARY 7, 2017 <br />