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MAYOR <br />Miguel A. Pulldo <br />MAYORPROTEM <br />Michele Martinez <br />P. David Benevides <br />Vleenla Sarmiento <br />Jose $olorlo <br />Sal Tinalero <br />Juan Vlllegas <br />June 20, 2017 <br />Exhibit 11 <br />CITY OF SANTA ANA <br />20 Civic Center Plaza s P.O. Box 1989 <br />Santa Ana, California 92702 <br />714-847.0900 <br />n2mia�ilad a <br />Kyle Paine <br />Community Development Partners <br />3416 Via Oporto, Suite 301 <br />Newport Beach, CA 92663 <br />SUBJECT: S1 Unit Multi -Family Housing Project <br />2223 West 5th Street, Santa Ana, California <br />Dear Mr. Paine, <br />EXHIBIT 1 <br />INTERIM CITY MANAGER <br />Cynthia Kurtz <br />CITYATTORNEY <br />Sonla R. Carvalho <br />CLERK OF THE COUNCIL <br />Made D. Hulzar <br />Community Development Partners ("Developer") requested financial assistance in <br />connection with the proposed development of a 51 unit affordable housing complex to be located at <br />2223 West 5th Skeet, Santa Ana, California ("Project"). The City of Santa Ana ("City") and the <br />Housing Authority of the City of Santa Ana ("Housing Authority") have reviewed the Developer's <br />request for assistance and at the City Council/Hooasing Authority meeting on June 20, 2017, the City <br />Council/Housing Authority Board authorized and approved issuance of this conditional pre - <br />commitment letter evidencing the preliminary award of $6,000,000 of funds to the Project (the <br />"City/Agency Assistance"), which City/Agency Assistance shall be funded from inclusionary <br />housing in -lieu fee payments made pursuant to the City's Housing Opportunity Ordinance (Article <br />XVM.I of Chapter 41 of the Santa Ana Municipal Code) (the "Inclusionary Housing Fund") and the <br />Low and Moderate Income Housing Asset Fund (the "LMIHAF") held by the Housing Authority of <br />the City of Santa Ana acting as the Housing Successor Agency (the "Agency"). The City, Agency <br />and the Developer have mutually agreed upon the conditional pre -commitment of City/Agency <br />Assistance in the maximum amount of $6,000,000. <br />The purpose of this letter is to provide a conditional pre -commitment from the City and <br />Agency for loans of up to $6,000,000 ("City/Agency Loans"), of which $I,300,000 will come from <br />the htclusionary Housing Fund held by the City and $4,700,000 will conte from the LMIHAF held <br />by the Housing Successor Agency. This letter shall evidence the City and Agency's conditional pre - <br />commitment of the City/Agency Assistance to the Developer for the Project subject to the conditions <br />described below, The Loan Agreements for these funds require City Council/Housing Authority <br />Board approval prior to execution by the Developer, the City and the Agency. <br />SANTA ANA CITY COUNCIL <br />Miguel AP Ido Mlehele M.de . Moonie Zw Ipnio Jo. $owo P. DaVd Ba Oche Juan VIIM ae Sal TIM1. <br />Mavor MayorPla Tem, WaM2 wardl Wazda Warda Warn 6� warda <br />maar*Ounlaana,oro mt1Z0.1eM0T10:aane.om vsurmWnleFbsanfe-ane.ora 1-1,m.-,_-, dbanevldeallAaanhwne.om ivtllaoevrtbsentn-nno.arn ellnaleml&senPoana.om <br />