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