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HomeMy WebLinkAbout04/15/1980 . . . . . CALL TO ORDER AGENDA SPECIAL MEETING COMMUNITY REDEVELOPMENT AGENCY COUNCIL CHAMBERS 22 CIVIC CENTER PLAZA SANTA ANA, CALIFORNIA APRIL 15, 1980 5:00 P.M. PLEDGE OF ALLEGIANCE TO THE FLAG ROLL CALL 1. RESIDENTIAL MORTGAGE REVENUE BONDS, ISSUE OF 1980 Recommendation: 1. Adopt Resolution Number 80-43: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF RESIDENTIAL MORTGAGE REVENUE BONDS FOR THE PURPOSE OF PURCHASING MORTGAGE LOANS TO PRO- VIDE FINANCING FOR A RESIDENTIAL CONSTRUCTION PROJECT. 2. Adopt Resolution Number 80-44: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF RESIDENTIAL MORTGAGE REVENUE BONDS, ISSUE OF 1980, FOR THE PURPOSE OF PURCHASING MORTGAGE LOANS TO PROVIDE FINANCING FOR A RESIDENTIAL CONSTRUCTION PROJECT. 3. Authorize execution of MORTGAGE LOAN PURCHASE AGREEMENT, COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, RESIDENTIAL MORTGAGE REVENUE BONDS, ISSUE OF 1980, RESIDENTIAL MORTGAGE FINANCING PROGRAM, between the Rede- velopment Agency, Wells Fargo Mortgage Company and Security Pacific National Bank. 4. Approve SELLER'S GUIDE FOR THE SALE OF MORTGAGE LOANS TO THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, as a supplement to the Mortgage Loan Purchase Agreement. 5. Authorize execution of SERVICING AGREEMENT, COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, RESIDENTIAL MORTGAGE REVENUE BONDS ISSUE OF 1980 RESIDENTIAL MORTGAGE FINANCING PROGRAM, between the Redevelopment Agency, Wells Fargo Mortgage Company and Security Pacific National Bank. 6. Approve SERVICER'S GUIDE FOR THE SERVICING OF MORTGAGE LOANS FOR THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, as a supple- ment to the Servicing Agreement. 7. Adopt Resolution Number 80-45: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING RULES AND REGULA- TIONS RELATING TO ITS RESIDENTIAL MORTGAGE FINANCING PROGRAM. . . . . 8. 9. 10. ll. 12. Approve Official Statement dated April 15, 1980, entitled $26,570,000 COMMUNITY REDEVEL- OPMENT AGENCY OF THE CITY OF SANTA ANA RESI- DENTIAL MORTGAGE REVENUE BONDS ISSUE OF 1980. Authorize execution of Purchase Contract entitled COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, $26,570,000 RESIDENTIAL MORTGAGE REVENUE BONDS, ISSUE OF 1980, PURCHASE CONTRACT, dated April 24,1980, between the Redevelopment Agency and Miller and Schroeder Municipals, Inc. Authorize execution of COMMITMENT CONTRACT, dated April 12, 1980, between the Community Redevelopment Agency of the City of Santa Ana and the Developer. Authorize execution of AMENDMENT OF THE AGREE- MENT OF MARCH 29, 1977, BY AND BETWEEN WESTERN CENTER ON LAW AND POVERTY, INC., LEGAL AID SOCIETY OF ORANGE COUNTY, COMMUNITY REDEVELOP- MENT AGENCY OF THE CITY OF SANTA ANA, CITY OF SANTA ANA AND RESIDENTS IN THE HOUSING CLEARANCE AND REPLACEMENT PROJECT BOUNDED BY FLOWER TO BIRCH AND FIRST TO THIRD STREETS. Authorize Executive Director to prepare amend- ment to Disposition and Development Agreement, dated May 2, 1977, between the Community Rede- velopment Agency, Housing Authority and Santa Ana Intown Apartments for adoption by the Redevelopment Agency and Housing Authority. Commission Recommendation: Recommend to Agency support of converting to condominiums and use of SB- 99 financing. 2. ADJOURNMENT . . . . , . NOTICE OF SPECIAL MEETING OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA YOU ARE HEREBY NOTIFIED: That James Ward, Chairman of the Community Redevelopment Agency of the City of Santa Ana, Calif- ornia has called a Special Meeting of the Community Redevelopment Agency to be held in the City Council Chambers, 22 Civic Center Plaza, Santa Ana, California, at the hour of 5:00 P.M., on Tuesday, April 15, 1980. The purpose of the meeting is as follows: 1. SB-99 BOND ISSUE To approve and adopt certain documents relating to the Redevel- opment Agency's SB-99 bond issue, including the bond purchase contract with the underwriters, Miller and Schroeder, in order that interest rates can be solidified. The Agency will be requested to act on the following three resolutions: A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF RESI- DENTIAL MORTGAGE REVENUE BONDS FOR THE PURPOSE OF PUR- CHASING MORTGAGE LOANS TO PROVIDE FINANCING FOR RESI- DENTIAL CONSTRUCTION PROJECTS. A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AUTHORIZING THE ISSUANCE OF RESI- DENTIAL MORTGAGE REVENUE BONDS, ISSUE OF 1980, FOR THE PURPOSE OF PURCHASING MORTGAGE LOANS TO PROVIDE FINAN- CING FOR RESIDENTIAL CONSTRUCTION PROJECTS. A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA APPROVING RULES AND REGULATIONS RELATING TO ITS RESIDENTIAL MORTGAGE FINANCING PROGRAM. Contracts and agreements to be acted on will include the following: Bond Purchase Contract Commitment Contract Mortgage Loan Purchase Agreement Supplement to the Mortgage Loan Purchase Servicing Agreement Servicing Agreement Supplement Official Statement Authorization for execution of amendment of Agreement, dated March 29, 1977, by and between Western Center on Law and Poverty, Inc., Legal Aid Society of Orange County, Community Redevelopment Agency, City of Santa Ana and residents in Housing Clearance and Replacement Project. Agreement Authorization for Executive Director to prepare amendment to Disposition Agreement dated May 2,1977, between Agency, Housing Authority and Santa Ana Intown Housing Apartments (Redeveloper) for adoption by Redevelopment Agency and Hous- ing Authority. DATED: April ll, 1980 STACEY C VESTON Recordi Secretary of the Community Redevelopment Agency of the City of Santa Ana . . . CERTIFICATE OF POSTING NOTICE OF SPECIAL MEETING OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA STATE OF CALIFORNIA) COUNTY OF ORANGE) SS CITY OF SANTA ANA) I, STACEY CREVESTON, declare under penalty of perjury that I am the qualified and acting Recording Secretary of the Community Redevelopment Agency of the City of Santa Ana; on April 11, 1980 at 11:45 A.M., I posted a copy of the Special Meeting of the Commu- nity Redevelopment Agency of the City of Santa Ana to be held on Tuesday, April 15, 1980 at 5:00 P.M. in the City Council Chambers, 22 Civic Center Plaza, Santa Ana, California, on the door to Room 628 and the Council Chambers. Executed this 11th day of April, 1980.