HomeMy WebLinkAbout1 - MINUTES_2019-09-17DRAFT MINUTES OF THE JOINT SESSION OF THE CITY COUNCIL AND
THE SPECIAL HOUSING AUTHORITY
SANTA ANA, CALIFORNIA
September 17, 2019
HOUSING AUTHORITY SPECIAL MEETING - SEPTEMBER 17, 2019
CALL TO ORDER CHAIRPERSON PULIDO
PUBLIC COMMENT ON AGENDA ITEMS AND ITEMS OF PUBLIC INTEREST - (Refer
to page 2 "Public Input" for description.)
CONSENT CALENDAR
MOTION: Approve staff recommendation on Consent Calendar Item: 1.
1. EXCUSED ABSENCES
Excuse the Housing Authority Member Sarmiento.
END OF CONSENT CALENDAR
BUSINESS CALENDAR
JOINT SESSION OF THE CITY COUNCIL AND THE HOUSING AUTHORITY
AGENCY
2. JOINT SESSION — APPROVE AMENDED AND
RESTATED AFFORDABLE HOUSING LOANS AND
SUBORDINATION AGREEMENTS FOR THE
REHABILITATION OF CORNERSTONE APARTMENTS
{STRATEGIC PLAN NO. 4, 51
HOUSING AUTHORITY
1.Authorize the Executive Director of the Housing Authority to execute an Amended and
Restated Loan Agreement with Cornerstone Housing Partners LP (c/o Jamboree
Housing Corporation) for $2,054,327 in Housing Successor Agency funds by
consolidating and replacing thirty-three existing Housing Successor Agency loans in
order to rehabilitate 126 units of existing affordable housing at 805, 810, 815, 816, 825,
828, 835, and 904 S. Minnie Street, Santa Ana, California, subject to non -substantive
changes approved by the Executive Director and Authority General Counsel.
DRAFT HOUSING AUTHORITY MINUTES 1 September 17, 2019
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DRAFT HOUSING AUTHORITY MINUTES 2 September 17, 2019
2. Authorize the Executive Director of the Housing Authority to execute a
Subordination Agreement with MUFG Union Bank, N.A., for the Housing
Authority’s Amended and Restated Housing Successor Agency Loan Agreement
with Cornerstone Housing Partners LP (c/o Jamboree Housing Corporation),
subject to non-substantive changes approved by the Executive Director and
Authority General Counsel.
CITY COUNCIL
1. Authorize the City Manager to execute an Amended and Restated Loan
Agreement with Cornerstone Housing Partners LP (c/o Jamboree Housing
Corporation) for $5,128,152 in HOME Investment Partnerships Program (HOME)
funds by consolidating and replacing ten existing HOME Program loans in order
to rehabilitate 126 units of existing affordable housing at 805, 810, 815, 816, 825,
828, 835, and 904 S. Minnie Street, Santa Ana, California, subject to non-
substantive changes approved by the City Manager and City Attorney.
2. Authorize the City Manager to execute a Subordination Agreement with MUFG
Union Bank, N.A., for the City’s Amended and Restated HOME Loan Agreement
with Cornerstone Housing Partners LP (c/o Jamboree Housing Corporation),
subject to non-substantive changes approved by the City Manager and City
Attorney.
Item considered and voted during the Joint Regular Open Session, Item 80A, and
Special Housing Authority meeting.
80A. JOINT SESSION - APPROVE AMENDED AND RESTATED AFFORDABLE
HOUSING LOANS AND SUBORDINATION AGREEMENTS FOR THE
REHABILITATION OF CORNERSTONE APARTMENTS {STRATEGIC PLAN NO. 4, 5}
– Community Development Agency
CITY COUNCIL ACTION
1. Authorize the City Manager to execute an Amended and Restated Loan
Agreement with Cornerstone Housing Partners LP (c/o Jamboree Housing
Corporation) for $5,128,152 in HOME Investment Partnerships Program (HOME)
funds by consolidating and replacing ten existing HOME Program loans in order
to rehabilitate 126 units of existing affordable housing at 805, 810, 815, 816, 825,
828, 835, and 904 S. Minnie Street, Santa Ana, California, subject to non-
substantive changes approved by the City Manager and City Attorney
(Agreement No. A-2019-168).
2. Authorize the City Manager to execute a Subordination Agreement with MUFG
Union Bank, N.A., for the City’s Amended and Restated HOME Loan Agreement
with Cornerstone Housing Partners LP (c/o Jamboree Housing Corporation),
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DRAFT HOUSING AUTHORITY MINUTES 3 September 17, 2019
subject to non-substantive changes approved by the City Manager and City
Attorney(Agreement No. A-2019-169).
HOUSING AUTHORITY ACTION
1. Authorize the Executive Director of the Housing Authority to execute an
Amended and Restated Loan Agreement with Cornerstone Housing Partners LP
(c/o Jamboree Housing Corporation) for $2,054,327 in Housing Successor
Agency funds by consolidating and replacing thirty-three existing Housing
Successor Agency loans in order to rehabilitate 126 units of existing affordable
housing at 805, 810, 815, 816, 825, 828, 835, and 904 S. Minnie Street, Santa
Ana, California, subject to non-substantive changes approved by the Executive
Director and Authority General Counsel.
2. Authorize the Executive Director of the Housing Authority to execute a
Subordination Agreement with MUFG Union Bank, N.A., for the Housing
Authority’s Amended and Restated Housing Successor Agency Loan Agreement
with Cornerstone Housing Partners LP (c/o Jamboree Housing Corporation),
subject to non-substantive changes approved by the Executive Director and
Authority General Counsel.
Councilmember Solorio motioned to approve, seconded by Mayor Pulido.
MOTION: Councilmember
Solorio
SECOND: Mayor Pulido
VOTE: AYES: Mayor Pulido, Mayor Pro Tem Villegas,
Councilmember Iglesias, Councilmember
Penaloza, Councilmember Solorio,
Councilmember Sarmiento (6)
NOES: None (0)
ABSTAIN: None (0)
ABSENT: None (None)
END OF BUSINESS CALENDAR
COMMENTS
3. HOUSING AUTHORITY MEMBER COMMENTS - None.
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DRAFT HOUSING AUTHORITY MINUTES 4 September 17, 2019
ADJOURNMENT
Mayor Pulido adjourned the Housing Authority meeting at 7:11 p.m. and reconvened to
the Regular Open Meeting.
Daisy Gomez
Recording Secretary
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