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Home My WebLink About1999-06 CRA . . . . .~ RESOLUTION NO. 1999-06 A RESOLUTION OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE. CITY OF SANTA ANA AUTHORIZING THE EXECUTIVE DIRECTOR OF THE COMMUNITY REDEVELOPMENT AGENCY TO SUBMIT AN APPLICATION TO RECEIVE STATE ASSISTANCE TO FUND AFFORDABLE HOUSING PROGRAMS WHEREAS, the California Housing Finance Agency ("CHFA") is currently accepting applications from local governments for the Housing Enabled by Local Partnerships ("HELP") Program to fund affordable housing programs; and WHEREAS, in order to submit an application for this funding, a resolution executed by the local government agency authorizing participation on its behalf is required; and WHEREAS, the funds received would be used for the Minnie Street Improvement Project ("Project") to provide long-term improvements in the Minnie Street neighborhood, which is located on Minnie Street, between McFadden Avenue and Grant Street, in Santa Ana; and WHEREAS, the CHFA loan would be used primarily for the building façade, courtyard, and interior improvement component of the project. NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA AS FOLLOWS: 1. That the Executive Director of the Community Redevelopment Agency, or her designee, acting alone, is hereby authorized in the name and on behalf of the COMMUNITY REDEVELOPMENT AGENCY to submit an application to the California Housing Finance Agency ("CHFA") for the Housing Enabled by Local Partnerships ("HELP") program for affordable housing programs. 2. That the Executive Director of the Community Redevelopment Agency, or her designee, acting alone, is authorized to execute, as an agent for the COMMUNITY REDEVELOPMENT AGENCY, all necessary agreements, extensions or amendments, for purposes which include but are not limited to, incur indebtedness, execute loan agreements, and commit Agency resources to fund affordable housing programs. 3. That the assistance applied for under the aforementioned program would not exceed 2 million dollars, 'at a rate of 3% simple interest per annum, with repayment in full no later than 10 years from the date of CHFA approval. . . . ADOPTED this 8th ATTEST: ~~Þm- Cynthia J. Nelson Executive Director AGENCY MEMBERS: Pulido Lutz Bist Christy Franklin McGuigan Moreno ~ ~ ~ ~ Absent ~ ~ day of June , 1999. ~ . uel A. Pulido hairman APPROVED AS TO FORM: