Laserfiche WebLink
E. The City of Santa Ana wishes to support Community Development Partners' <br />("Developer') application to receive an allocation of up to $7,500,000 in grant and <br />loan funds through the AHSC Program for the Tiny Tim Apartments project, a 51 - <br />unit new construction affordable housing development at 2223 W. Fifth Street in <br />Santa Ana targeting low-income families making 30%-60% AMI, including 5 units <br />targeting at -risk homeless families ("Project"). The Application comprises of a <br />request not to exceed $5,000,000 as a loan for an Affordable Housing <br />Development (AHD) ("AHSC Loan") and request not to exceed $2,500,000 for a <br />grant for Housing -Related (HRI), Sustainable Transportation Infrastructure (STI), <br />Transit -Related Amenities (TRA) or Program (PGM) activities ("AHSC Grant") as <br />defined the AHSC Program Guidelines adopted by SGC on July 17, 2017. <br />F. The City of Santa Ana provided the Developer with a residual receipts loan in <br />an amount not to exceed $6,000,000 in support of the Project. <br />Section 2. The City Manager, or his designee, is authorized and empowered <br />to execute in the name of the City of Santa Ana all necessary applications, contracts, <br />payment requests, agreements, amendments or any other documents related to, and in <br />furtherance of, the Developer's application for the purposes of securing funds and to <br />carry out the purposes specified in the AHSC application and agreement. <br />Section 3. If the application for funding is approved, and the Developer is <br />awarded grant funds for Transportation Related Infrastructure, the City of Santa Ana will <br />enter into a contract with the Developer to utilize those AHSC grant funds in an amount <br />up to $2,500,000 to develop the Transportation Related Infrastructure component of the <br />Project, which involves a bicycle boulevard treatment along Fifth Street between the <br />Santa Ana River Trail and Raitt Street to provide improved bicycle access from the <br />Santa Ana River Trail to Downtown Santa Ana. <br />Section 4. This Resolution shall take effect immediately upon its adoption by <br />the City Council, and the Clerk of the Council shall attest to and certify the vote adopting <br />this Resolution. <br />ADOPTED this 19th day of December, 2017. <br />Resolution No. 2017-078 <br />Page 2 of 3 <br />