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3. Approve a conditional pre -loan commitment, pending the approval of <br />the Site Plan Review by the Planning Commission and City Council for <br />the Tiny Tim Plaza project, as follow: <br />Housing <br />City Council - <br />Development Project Successor <br />Inclusionary <br />Agency Funds <br />Housing Funds <br />Tiny Tim Plaza $4,700,000 <br />$1,300,000 <br />CITY COUNCIL MOTION: <br />1. Staff recommends the approval of the following actions regarding loan <br />documents and commitment letters: <br />a. Direct staff to amend the Inclusionary Housing loan agreement for <br />the Santa Ana Arts Collective project for an additional amount not to <br />exceed $2,900,000 in Inclusionary Housing funds and provide for <br />City Council consideration at the July 5, 2017 meeting. <br />2. Approve an appropriation adjustment. (Requires five affirmative votes). <br />APPROPRIATION ADJUSTMENT NO. 2017-148 - Recognizing the <br />Inclusionary Housing Fund balance in the amount of $4,200,000 in <br />revenue account (no. 41718002-50001) and appropriating same to the <br />Inclusionary Housing Fund's Loans and Grants expenditure account <br />no. (41718820-69152) for the Santa Ana Arts Collective project and <br />conditional pre -loan commitment for the Tiny Tim Plaza project. <br />HOUSING AUTHORITY MOTION: <br />1. Staff recommends the approval of the following actions regarding loan <br />documents and commitment letters: <br />a. Approve a pre -loan commitment in an amount not to exceed <br />$8,522,740 for the First Street Apartments project. <br />b. Approve an award of 31 additional project based vouchers to <br />Community Development Partners with Mercy Housing Living <br />Centers as the service provider for the Aqua Housing project and <br />authorize the Executive Director of the Housing Authority to execute <br />an amendment to the Agreement to Enter into a Project -Based <br />Vouchers Housing Assistance Payments contract for an additional <br />31 vouchers for the Aqua Housing project. <br />3. Approve an appropriation adjustment. (Requires five affirmative votes). <br />APPROPRIATION ADJUSTMENT NO. 2017-149 - Recognizing the <br />Housing Successor Agency's fund balance in the amount of $8,633,785 <br />CITY COUNCIL MINUTES 26 JUNE 20, 2017 <br />1 OA -26 <br />