2017-048 - Housing and Sustainable Communities Program Grant Funding

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AHSC Program grant in an amount not to exceed $1,310,500 ("AHSC Grant") under the above described NOFA for an aggregate amount not to exceed $6,254,630 under the above described NOFA. Section 2. The City Council of the City of Santa Ana hereby authorizes and directs the City to incur an obligation for the AHSC Loan and AHSC Grant. That in connection with the AHSC Loan and AHSC Grant, the City Manager, or his/her designee(s), is authorized and directed to enter into, execute, and deliver, subject to approval by the City Attorney's Office, the AHSC Loan Standard Agreement in an amount not to exceed $4,944,130, the AHCS Grant Standard Agreement in an amount not to exceed $1,310,500, and any and all other documents required or deemed necessary or appropriate to carry into effect the full intent and purpose of the above resolution, in order to evidence the AHSC Loan and AHSC Grant, the City's obligations related thereto, and HCD's security therefore; including, but not limited to, a subordination agreement, a disbursement agreement, a covenant and certain other documents required by HCD as security for, evidence of or pertaining to the AHSC Loan and AHSC Grant, and all amendments thereto (collectively, the "AHSC Documents"). Section 3. The City shall be subject to the terms and conditions as specified in the Standard Agreements. Funds are to be used for allowable capital asset project expenditures to be identified in Exhibit A of the Standard Agreements. The application in full is incorporated as part of the Standard Agreements. Any and all activities funded, information provided, and timelines represented in the application are enforceable through the Standard Agreement. The City hereby agrees to use the funds for eligible capital asset(s) in the manner presented in the application as approved by HCD and in accordance with the NOFA, Program Guidelines and application package. Section 4. This Resolution shall take effect immediately upon its adoption by the City Council and the Clerk of the Council shall attest to and certify the vote adopting this Resolution. Resolution No. 2017-048 Page 2 of 3