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Amendments to Loan Agreements for the Santa Ana Arts Collective <br />June 15, 2021 <br />Page 4 <br />FISCAL IMPACT <br />The changes to the residual receipt splits between the various lenders will most likely <br />result in reduced increments of repayments to the City on its CDBG, Inclusionary, and <br />HOME program loans during the 55-year repayment period. <br />Approval of the appropriation adjustment will recognize $22,500 in the Affordable Housing <br />and Sustainable Communities program revenue account (no. 41818002-52025) and <br />appropriate the same amount to the Payment to Other Agencies expenditure account (no. <br />41818832-69142). As the contribution to SCAG's Go Human program is anticipated to <br />occur next fiscal year, the appropriation of funds can be made to the FY 21-22 budget. <br />EXHIBIT(S) <br />1. Amended and Restated CDBG and Inclusionary Housing Funds Loan Agreement <br />2. Proposed Third Amendment to the Amended and Restated CDBG and <br />Inclusionary Housing Funds Loan Agreement <br />3. Resolution authorizing City Manager to Enter into Agreement with HCD <br />Submitted By: Steven Mendoza, Assistant City Manager <br />Approved By: Kristine Ridge, City Manager <br />City Council 29 — 4 6/15/2021 <br />