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55C - RESO - SA ARTS COLLECTIVE
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55C - RESO - SA ARTS COLLECTIVE
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Last modified
6/29/2017 5:23:56 PM
Creation date
6/29/2017 5:15:07 PM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
55C
Date
7/5/2017
Destruction Year
2022
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FREE RECORDING REQUESTED PURSUANT <br />TO GOVERNMENT CODE SECTION 27383 <br />When Recorded Mail to: <br />City of Santa Ana <br />Clerk of the Council <br />20 Civic Center Plaza (M-30) <br />P.O. Box 1988 <br />Santa Ana, CA 92702-1988 <br />Attention: Clerk of the Council <br />FIRST AMENDED AND RESTATED <br />AFFORDABILITY RESTRICTIONS <br />ON TRANSFER OF PROPERTY <br />{Address: 1666 N. Main Street, Santa Ana, CA) <br />THESE AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (the <br />"Restrictions") are entered into by and between Santa Ana Arts Collective, LP, a California <br />limited partnership ("Owner") and the City of Santa Ana, a charter city and municipal <br />corporation (the "City"). <br />RECITALS: <br />A. The City is the recipient of Community Development Block Grant ("CDBG") <br />funds from HUD pursuant to Tile I of the Housing and Community Development Act of 1974, as <br />amended ("Act") and 24 CFR 570 ("CDBG Regulations") , Catalog of Federal Domestic <br />Assistance (CFDA) Number 14.218, and Federal Award Identification Number (FAIN) B -15 - <br />MC -06-0508 in the amount of $5,434,375. <br />B. The City is authorized by the CDBG Regulations to expend funds to increase the <br />supply of low- and moderate -income housing available at affordable housing costs. <br />C. The Housing Opportunity Ordinance, Santa Ana Ordinance No. NS -2881, <br />established standards and procedures to encourage the development of housing that is affordable <br />to a range of households with varying income levels. Pursuant to Santa Ana Municipal Code <br />("SAMC") section 41-1904(c), developers may pay an in -lieu fee in certain instances to satisfy <br />the inclusionary requirements. These funds are deposited into the Inclusionary Housing Fund, as <br />defined by SAMC section 41-1901, and are to be used to increase and improve the supply of <br />affordable housing per SAMC section 41-1909. <br />D. In order to utilize money in the Inclusionary Housing Fund, the City issued a <br />Request for Proposals on June 1, 2015, seeking affordable housing projects. After reviewing all <br />55C-55 <br />
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