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Mitre -Ramirez, Norma <br />From: <br />Huizar, Maria <br />Sent: <br />Thursday, June 1, 2017 12:22 PM <br />To: <br />Cortez, Robert <br />Cc: <br />Kurtz, Cynthia; Mitre -Ramirez, Norma <br />Subject: <br />RE: Santa Ana Arts - Council Options <br />We will include in the packet for 6/6 meeting, which is when the item will be considered, correct? <br />From: Cortez, Robert <br />Sent: Thursday, June 1, 2017 12:09 PM <br />To: Huizar, Maria <MHuizar@santa-ana.org> <br />Cc: Kurtz, Cynthia <CKurtz@santa-ana.org> <br />Subject: FW: Santa Ana Arts - Council Options <br />Maria, <br />This correspondence came in today and was tied to the special meeting. <br />Thanks, <br />Robert Cortez, <br />Deputy City Manager <br />City of Santa Ana <br />20 Civic Center Plaza I Santa Ana, CA 92701 <br />(714) 647-5200 1 rcortez5@santa-ana.ora <br />From: Chris Maffris fmailto:cmaffris@metahousine.com] <br />Sent: Thursday, June 1, 2017 11:03 AM <br />To: Cortez, Robert <RCortezS@santa-ana.ore> <br />Cc: Kasey Burke <kburke@meta housing.com>; Michelle Coulter <MCoulter@metahousine.com>; Brian Hendricks <br /><bhendricks@maeisrealtv.com>; Brown, Judson <JBrown @santa-ana.ore> <br />Subject: Santa Ana Arts - Council Options <br />Hello Robert, <br />We appreciate the opportunity to respond to the financial assistance options for Santa Ana Arts Collective, as presented <br />in today's Agenda. <br />Per the Agenda, the following are the options for Council discussion and consideration: <br />Option #1: Amend the project's original award by an additional amount up to $2.9 million per Keyser Marston Associates <br />(KMA) gap analysis. <br />Option #2: Amend the project's original award by an additional amount up to $1,481,215, per CSG Advisors gap analysis. <br />City financial assistance to be negotiated by CSG Advisors and Meta Housing. <br />Though both reports agree that a Developer Fee of $2 million is a CTCAC limit for projects financed with competitive 9% <br />tax credits, KMA and CSG's suggestions for the means and extent to which developer fee is further limited, differ <br />greatly. <br />65AL77 <br />