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<br />e <br /> <br />RESOLUTION NO. 86-2 <br /> <br />A RESOLUTION OF THE HOUSING AUTHORITY OF THE <br />CITY OF SANTA ANA AUTHORIZING THE SUBMISSION <br />OF A PROGRAM ELIGIBILITY APPLICATION, THE EXECUTION <br />OF A STANDARD AGREEMENT AND ANY AMENDMENTS THERETO, AND <br />OTHER DOCUMENTS NECESSARY TO MAKE LOANS UNDER THE <br />STATE OF CALIFORNIA DEFERRED PAYMENT REHABILITATION LOAN PROGRAM <br /> <br />WHEREAS, the State of California Department of Housing and <br />Community Development has issued an Announcement of Funding Availability <br />under .the Deferred Payment Rehabilitation Loan Program "Open Window" <br />funding process; and <br /> <br />. WHEREAS, pursuant to Sections 50660-50670 of the <br />alifornia Health and Safety Code, the State of California Departmment of <br />Housing and Community Development is authorized to provide funds for the <br />rehabilitation of housing¡ and <br /> <br />WHEREAS, the Housing Authority of the City of Santa Ana, <br />hereinafter referred to as the "Local Agency" is a local public entity <br />organized under the laws of the State of California and is eligible to <br />participate in the Deferred Payment Rehabilitation Loan Program (DPRLP)¡ <br />and <br /> <br />WHEREAS, the Local Agency desires to apply and, if <br />~ccepted, will package loans to be submitted to the Department of Housing <br />~and Community Development. The total amount of such loans approved by the <br />Department shall not exceed $200,000. <br /> <br />NOW THEREFORE, BE IT RESOLVED by the Housing Authority of <br />the City of Santa Ana: <br /> <br />1. Should the Housing Authority of the City of Santa <br />Ana's Program Eligibility Application for participation in the DPRLP be <br />accepted, the Local Agency hereby certifies that all uses of the funds. <br />will be in compliance with DPRLP Regulations, the Guidelines thereto, and <br />the Standard Agreement governing the use of programs funds. <br /> <br />2. The Housing Authority of the City of Santa Ana <br />authorized the Executive Director to apply and if accepted to enter <br />Standard Agreement with the Department of Housing and Community <br />Development and execute other documents required to consumate this <br />transaction and operate the DPRLP. <br /> <br />into a <br /> <br />packages to the <br />approval and to <br />individual loan <br />Iborrowers. <br /> <br />3. The Local Agency is further authorized to submit loan <br />Department of Housing and Community Development for <br />execute all documents required to make and record each <br />approved by the Department under the DPRLP to individual <br /> <br />. <br />