My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
JAMBOREE HOUSING CORPORATION
Clerk
>
Contracts / Agreements
>
J
>
JAMBOREE HOUSING CORPORATION
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
9/26/2018 12:18:46 PM
Creation date
9/24/2018 12:31:18 PM
Metadata
Fields
Template:
Contracts
Company Name
JAMBOREE HOUSING CORPORATION
Contract #
A-2018-198
Agency
COMMUNITY DEVELOPMENT
Council Approval Date
8/21/2018
Destruction Year
0
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
114
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
LOAN AGREEMENT <br />HOME PROGRAM <br />THIS LOAN AGREEMENT (the "Agreement") dated, for identification purposes only, <br />as of August 21, 2018, is made and entered into by and between the City of Santa Ana, a <br />charter city and municipal corporation (referred to herein as "City") and Santa Ana Village <br />LP, a California limited partnership, with reference to the following: <br />RECITALS: <br />A. City has received an allocation of funds from the United States Department of <br />Housing and Urban Development ("HUD") under the HOME Investment Partnerships <br />Program (the "HOME Program") (42 U.S.C. §12701, et seq.,) to be used in accordance <br />with applicable statutory requirements and regulations (the "HOME Regulations") (24 <br />CFR Part 92); <br />B. At least 15% of the City's annual allocation of HOME Program funds is <br />reserved for Community Housing Development Organizations (the "HOME Program <br />CHDO funds"), and Jamboree Housing Corporation has been certified by the City on <br />February 7, 2017 and is in good standing as a Community Housing Development <br />Organization (CHDO); <br />C. Among the purposes of the HOME Program are (1) to expand the supply <br />of decent, safe, sanitary, and affordable housing, with primary attention to rental housing, <br />for very low-income and low-income Americans; and (2) to provide participating <br />jurisdictions, on a coordinated basis, with the various forms of federal housing assistance, <br />including capital investment, mortgage insurance, rental assistance, and other federal <br />assistance, needed (a) to promote the development of partnerships among the federal <br />government, states and units of general local government, private industry, and nonprofit <br />organizations able to utilize all available resources to provide more of such housing, and <br />(b) to expand the capacity of nonprofit Community Housing Development Organizations <br />to develop and manage decent, safe, sanitary and affordable housing; <br />D. Developer is the owner of that certain property commonly known as 3312 <br />W. First Street, within the City of Santa Ana, California, and legally described in Exhibit <br />A attached hereto (the "Property"). The loans referenced herein shall assist in the <br />acquisition and new construction of said Property for a multifamily residential housing <br />development. <br />E. Developer is on the City's Approved List of Community Housing <br />Development Organizations and has been certified and approved to utilize HOME <br />Program CHDO funds. <br />F. In furtherance of the HOME Program, Developer has applied to City for a <br />loan with which to: <br />1. provide deeper affordability for a longer term, as well as acquire and <br />construct the Property, and <br />
The URL can be used to link to this page
Your browser does not support the video tag.