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Community Development Agency <br />santa-ana.org/cd <br />Item # 29 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br />Staff Report <br />June 15, 2021 <br />TOPIC: Amendments to Loan Agreements for the Santa Ana Arts Collective <br />AGENDA TITLE: <br />Approve Amendments to the Loan Agreements for the Santa Ana Arts Collective; <br />Approve Subordination Agreements for the Amended Loans, Adopt a Resolution for <br />SCAG's Go Human Program; and Approve Appropriation Adjustment <br />RECOMMENDED ACTION <br />1. Authorize the City Manager to execute a Third Amendment to the First Amended <br />and Restated CDBC and Inclusionary Housing Funds Loan Agreements for the <br />Santa Ana Arts Collective, to address a change in affordability levels, and a <br />modification to the residual receipt split in recognition of a loan from the California <br />Housing Finance Agency, subject to non -substantive changes approved by the <br />City Manager and City Attorney. <br />2. Authorize the City Manager to execute a Second Amendment to the HOME Loan <br />Agreement for the Santa Ana Arts Collective, to address a change in affordability <br />levels and a modification to the residual receipt split in recognition of a loan from <br />the California Housing Finance Agency, subject to non -substantive changes <br />approved by the City Manager and City Attorney. <br />3. Authorize the City Manager to execute a future Subordination Agreement with the <br />State of California Department of Housing and Community Development (HCD) for <br />the Affordable Housing and Sustainability Communities (AHSC) loan agreement, <br />subject to approval as to form by the City Attorney. <br />4. Adopt a Resolution authorizing the City Manager to enter into an agreement with <br />the State of California Department of Housing and Community Development <br />(I ICD) for Affordable I lousing and Sustainability Communities (Al ISC) program <br />grant funding for management and disbursement of a $22,500 funding contribution <br />to the Southern California Association of Government's (SCAG) Go Human <br />program. <br />5. Approve an appropriation adjustment for FY 21-22, recognizing funds from the <br />Slale of California Deparlmenl of Housing and Community Developmenl (HCD) for <br />Affordable Housing and Sustainability Communities (AHSC) program in the <br />City Council 29 — 1 6/15/2021 <br />