SANTA ANA ARTS COLLECTIVE, L.P. (META HOUSING PROJECT) - 2017

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FREE RECORDING REQUESTED PURSUANT TO GOVERNMENT CODE SECTION 27383 When Recorded Mail to: City of Santa Ana Cleric of the Council 20 Civic Center Plaza (M-30) P.O. Box 1988 Santa Ana, CA 92702-1988 Attention: Clerk of the Council AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY {Address: 1666 N. Main Street, Santa Ana, CA} THESE AFFORDABILITY RESTRICTIONS ON TRANSFER OF PROPERTY (the "Restrictions") are entered into by and between Santa Ana Arts Collective, LP, a California limited partnership ("Owner") and the City of Santa Ana, a charter city and municipal corporation (the "City"). RECITALS: A. The City has received an allocation of funds from the United States Department of Housing and Urban Development ("HUD") under the HOME Investment Partnerships Program ("HOME Program") (42 U.S.C. § 12701, et seq.) to be used in accordance with applicable statutory requirements and regulations ("HOME Regulations")(24 CFR 92); B. Among the purposes of the HOME Program are (1) to expand the supply of decent, safe, sanitary, and affordable housing, with primary attention to rental housing, for very low-income and low-income Americans; and (2) to provide participating jurisdictions, on a coordinated basis, with the various forms of federal housing assistance, including capital investment, mortgage insurance, rental assistance, and other federal assistance, needed (a) to promote the development of partnerships among the federal government, states and units of general local government, private industry, and nonprofit organizations able to utilize all available resources to provide more of such housing, and (b) to expand the capacity of nonprofit community housing development organizations to develop and manage decent, safe, sanitary and affordable housing; C. The City is authorized by the HOME Regulations to expend funds to increase the supply of very low and low-income housing available at affordable housing costs.