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Amendments to Promissory Notes with C&C Development Company and Orange Housing Development Corporation March 6, 2018 Page 2 TOWNSEND & RAITT, L.P. 709 S. TOWNSEND STREET 6.50% 8% TOWNSEND & RAITT, L.P. 817 SOUTH TOWNSEND 6.50% 8% TOWNSEND & RAITT, L.P. 821 SOUTH TOWNSEND 6.50% 8% TOWNSEND & RAITT, L.P. 834 SOUTH RAITT 6.50% 8% DURANT-1410, L.P. 1410-1412 DURANT STREET 6.50% 8% LACY & RAITT, L.P. 703 N. LACY STREET 7% 8% LACY & RAITT, L.P. 702 SOUTH RAITT 7% 8% GARNSEY, L.P. 326 SOUTH GARNSEY STREET 7% 8% HOUSING AUTHORITY ACTION Authorize the Executive Director of the Housing Authority of the City of Santa Ana and the Clerk of the Council to execute Amendments to Promissory Notes (Loan Notes) with C&C Development Company and Orange Housing Development Corporation for the following affordable housing developments, to increase the property management fee to 8% of gross rents, subject to non - substantive chances armroved by the Executive Director and Authority General Counsel: 80A-2 Current Proposed Entity Project Address Management Management Fee Fee ROSS AND DURANT, L.P. 1411 N. DURANT 6.25% 8% ROSS AND DURANT, L.P. 1501 N. ROSS STREET 6.25% 8% 1201, 1209, 1213, 1221, 1225, 1229, AND 1233 EAST WILSHIRE, AND WILSHIRE & MINNIE, L.P. 1401, 1403, 1409, 1413, 6.50% 8% 1421, 1425, 1429, 1433, 1437 AND 1439 SOUTH MINNIE STREET TOWNSEND & RAITT, L.P. 701 SOUTH TOWNSEND 6.50% 8% TOWNSEND & RAITT, L.P. 817 SOUTH TOWNSEND 6.50% 8% TOWNSEND & RAITT, L.P. 821 SOUTH TOWNSEND 6.50% 8% TOWNSEND & RAITT, L.P. 834 SOUTH RAITT 6.50% 8% TOWNSEND & RAITT, L.P. 709 SOUTH TOWNSEND 6.50% 8% LACY & RAITT, L.P. 703 N. LACY STREET 7% 8% LACY & RAITT, L.P. 702 SOUTH RAITT 7% 8% 80A-2