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HOUSING AUTHORITY AGENDA 4 MARCH 6, 2018 Community Redevelopment and Housing Commission approved the recommended actions on January 24, 2018 by a vote of 7-0 (Frazier absent). HOUSING AUTHORITY ACTION RECOMMENDED 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 changes approved by the Executive Director and Authority General Counsel: Entity Project Address Current Management Fee Proposed Management Fee ROSS AND DURANT, L.P. 1411 N. DURANT 6.25% 8% ROSS AND DURANT, L.P. 1501 N. ROSS STREET 6.25% 8% WILSHIRE & MINNIE, L.P. 1201, 1209, 1213, 1221, 1225, 1229, AND 1233 EAST WILSHIRE, AND 1401, 1403, 1409, 1413, 1421, 1425, 1429, 1433, 1437 AND 1439 SOUTH MINNIE STREET 6.50% 8% 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% CITY COUNCIL ACTION RECOMMENDED ACTION: Authorize the City Manager 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 changes approved by the City Manager and City Attorney: