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HOUSING AUTHORITY AGENDA 4 FEBRUARY 21, 2017 <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 /> <br /> HOUSING AUTHORITY RECOMMENDED ACTION <br /> <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 /> <br />CITY COUNCIL ACTION RECOMMENDED ACTIONS: <br /> <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 /> <br />2. Approve an appropriation adjustment. (Requires five affirmative votes) <br /> <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 /> <br />3. Approve an appropriation adjustment. (Requires five affirmative votes) <br /> <br />APPROPRIATION ADJUSTMENT NO. 2017-084 - Approve an appropriation <br />adjustment recognizing the Housing Successor Agency’s fund balance in the amount of <br />$6,195,000 in revenue account and appropriating same to the Low and Moderate Income <br />Housing Asset Fund’s Loan and Grants expenditure account for the $6,195,000 loan <br />agreement with AMCAL Multi-Housing, Inc. <br /> <br />***END OF BUSINESS CALENDAR*** <br /> <br />COMMENTS <br /> <br /> 4. HOUSING AUTHORITY MEMBER COMMENTS <br /> <br /> AT THIS TIME Housing Authority members may comment on non-agenda matters and <br /> ask questions of or give directions to staff. NO action may be taken on non-agenda items <br /> unless authorized by law. <br /> <br />ADJOURNMENT