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JOINT RECOMMENDED ACTIONS: <br /> <br />1. Staff recommends the approval of option A1, option B1, option C1, and option <br />D1. <br /> <br />2. Direct staff to develop a policy and criteria for the allocation of future <br />affordable housing development funds. <br /> <br />3. Approve a conditional pre-loan commitment, pending the approval of the <br />Site Plan Review by the Planning Commission and City Council for the Tiny <br />Tim Plaza project, as follow: <br /> <br />Housing City Council - <br /> <br />Development Project Successor Inclusionary <br /> <br />Agency Funds Housing Funds <br /> <br />Tiny Tim Plaza $4,700,000 $1,300,000 <br /> <br /> <br />CITY COUNCIL RECOMMENDED ACTIONS: <br /> <br />1. Staff recommends the approval of the following actions regarding loan <br />document and commitment letter: <br /> <br />a. Direct staff to amend the Inclusionary Housing loan agreement for the <br />Santa Ana Arts Collective project for an additional amount not to exceed <br />$2,900,000 in Inclusionary Housing funds and provide for City Council <br />consideration at the July 5, 2017 meeting. <br /> <br />2. Approve an appropriation adjustment. <br />(Requires five affirmative votes). <br /> <br />APPROPRIATION ADJUSTMENT - Recognizing the Inclusionary Housing <br />Fund balance in the amount of $4,200,000 in revenue account (no. <br />41718002-50001) and appropriating same to the Inclusionary Housing <br />Fund’s Loans and Grants expenditure account no. (41718820-69152) for the <br />Santa Ana Arts Collective project and conditional pre-loan commitment for <br />the Tiny Tim Plaza project. <br /> <br /> <br />HOUSING AUTHORITY RECOMMENDED ACTIONS: <br /> <br />1. Staff recommends the approval of the following actions regarding loan <br />documents and commitment letters: <br /> <br />a. Approve a pre-loan commitment in an amount not to exceed $8,522,740 <br />for the First Street Apartments project. <br /> <br />b. Approve an award of 31 additional project based vouchers to Community <br />Development Partners with Mercy Housing Living Centers as the service <br />provider for the Aqua Housing project and authorize the Executive Director <br />HOUSING AUTHORITY AGENDA 5 JUNE 20, 2017 <br /> <br />