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JOINT SESSIONS OF THE CITY COUNCIL AND THE HOUSING AUTHORITY AGENCY <br />80A. AMENDMENTS TO PROMISSORY NOTES WITH C&C DEVELOPMENT <br />COMPANY AND ORANGE HOUSING DEVELOPMENT CORPORATION FOR <br />ROSS & DURANT, WILSHIRE & MINNIE, TOWNSEND & RAITT, 1410 N. <br />DURANT, LACY & RAITT, AND 326 S. GARNSEY AFFORDABLE HOUSING <br />DEVELOPMENTS {STRATEGIC PLAN NO. 5, 31 — Community Development Agency <br />Community Redevelopment and Housing Commission approved recommended action on <br />January 24, 2018 by a vote of 7-0 (Frazier absent). <br />CITY COUNCIL ACTION <br />RECOMMENDED ACTION. Authorize the City Manager and the Clerk of the <br />Council to execute Amendments to Promissory Notes (Loan Notes) with C&C <br />Development Company and Orange Housing Development Corporation for the <br />following affordable housing developments, to increase the property management fee <br />to 8% of gross rents, subject to non -substantive changes approved by the City <br />Manager and City Attorney: <br />HOUSING AUTHORITY ACTION <br />CITY COUNCIL AGENDA 10 MARCH 6, 2018 <br />Current <br />Proposed <br />AGMT. <br />Entity <br />Project Address <br />Management <br />Management <br />No. <br />Fee <br />Fee <br />1. <br />ROSS AND DURANT, <br />1411 N. DURANT <br />6.25% <br />8% <br />2018 -XXX <br />L.P. <br />2. <br />ROSS AND DURANT, <br />1501 N. ROSS <br />6.25% <br />8% <br />2018 -XXX <br />L.P. <br />STREET <br />3. <br />WILSHIRE & MINNIE, <br />1201, 1209, 1213, 1221, <br />6.50% <br />8% <br />2018 -XXX <br />L.P. <br />1225, 1229, AND 1233 <br />EAST WILSHIRE, <br />AND 1401, 1403, <br />1409, 1413, 1421, 1429, <br />1425, 1433, 1437 AND <br />1439 SOUTH <br />MINNIE STREET <br />4. <br />TOWNSEND & <br />701 SOUTH <br />6.50% <br />8% <br />2018 -XXX <br />RAITT, L.P. <br />TOWNSEND <br />5. <br />TOWNSEND & <br />709 S. TOWNSEND <br />6.50% <br />8% <br />2018 -XXX <br />RAITT, L.P. <br />STREET <br />6. <br />TOWNSEND & <br />817 SOUTH <br />6.50% <br />8% <br />2018 -XXX <br />RAITT, L.P. <br />TOWNSEND <br />7. <br />TOWNSEND & <br />821 SOUTH <br />6.50% <br />8% <br />2018 -XXX <br />RAITT, L.P. <br />TOWNSEND <br />8. <br />TOWNSEND & <br />834 SOUTH RAITT <br />6.50% <br />8% <br />2018 -XXX <br />RAITT, L.P. <br />9. <br />DURANT —1410, L.P. <br />1410-1412 DURANT <br />6.50% <br />8% <br />2018 -XXX <br />STREET <br />10. <br />LACY & RAITT, L.P. <br />703 N. LACY <br />7% <br />8% <br />2018 -XXX <br />STREET <br />11. <br />LACY & RAITT, L.P. <br />702 SOUTH RAITT <br />7% <br />8% <br />2018 -XXX <br />12. <br />GARNSEY, L.P. <br />326 SOUTH <br />7% <br />8% <br />2018 -XXX <br />GARNSEY STREET <br />HOUSING AUTHORITY ACTION <br />CITY COUNCIL AGENDA 10 MARCH 6, 2018 <br />