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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 />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 $8,522,740 <br />for the First Street Apartments project. <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 />of the Housing Authority to execute an amendment to the Agreement to <br />Enter into a Project -Based Vouchers Housing Assistance Payments <br />contract for an additional 31 vouchers for the Aqua Housing project. <br />3. Approve an appropriation adjustment. (Requires five affirmative <br />votes). <br />APPROPRIATION ADJUSTMENT NO. 2017-149 - Recognizing the <br />Housing Successor Agency's fund balance in the amount of $8,633,785 <br />in revenue account no. (60718002-50001) and appropriating same to <br />the Low and Moderate Income Housing Asset Fund's Loans and <br />Grants expenditure account no. (60718830-69152) for the First Street <br />Apartments project's pre -loan commitment and conditional pre -loan <br />commitment for the Tiny Tim Plaza project. <br />MOTION: Sarmiento SECOND: Tinajero <br />VOTE: AYES: Benavides, Pulido, Sarmiento, Solorio, Tinajero, <br />Villegas (6) <br />NOES: Martinez (1) <br />ABSTAIN: None (0) <br />ABSENT: None (0) <br />'Mayor Pulldo dissented on option B1 part of Joint Motion item #1. <br />HOUSING AUTHORITY MINUTES 5 JUNE 20, 2017 <br />