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Affordable Housing Project at 2530 & 2534 Westminster Avenue <br />May 17, 2022 <br />Page 8 <br />2 <br />6 <br />8 <br />9 <br />planning approval, permit or other action necessary for the acquisition, construction, <br />rehabilitation, installation or operation of the Project; (iii) make any contribution or <br />advance any funds whatsoever to the Authority; or (iv) take any further action with respect <br />to the Authority or its membership therein. In general, this action by the City of Santa Ana <br />will not obligate the City or any department thereof to undertake any discretionary action <br />related to the development of the project. <br />California Statewide Communities Development Authority <br />CSCDA is a joint powers authority sponsored by the League of California Cities <br />("League") and the California State Association of Counties ("CSAC"). CSCDA was <br />created by the League and CSAC in 1988 to enable local <br /> <br />FISCAL IMPACT <br />Funds for the HOME Investment Partnerships Program Loan Agreement in the amount <br />of $1,803,334.50 (90 percent of the original award amount) are available in the HOME <br />Investment Partnerships Program, Loans and Grants account (no. 13018780-69152) for <br />expenditure in the current fiscal year. The remaining $200,370.50 (10%) will be budgeted <br />and included in the FY 2022-23 annual budget. <br />Funds for the Inclusionary Housing Loan Agreement in the amount of $1,362,701.70 <br />(90% of the original award amount) are available in the Inclusionary Housing Fund, Loans <br />and Grants account (no. 41718820-69152) for expenditure in the current fiscal year. The <br />remaining $151,411.30 (10%) will be budgeted and included in the FY 2022-23 annual <br />budget. <br />Funds for the Rental Rehabilitation Program Loan Agreement in the amount of <br />$347,870.70 (90% of the original award amount) are available in the Rental Rehabilitation <br />Program, Loans and Grants account (no. 14518760-69152) for expenditure in the current <br />fiscal year. The remaining $38,652.30 (10%) will be budgeted and included in the FY <br />2022-23 annual budget. <br />The City received a payment of $896.78 to hold a TEFRA Hearing for this project that <br />was deposited into Account no. 01102002- 53902. <br />EXHIBIT(S) <br />1.Staff Report from April 7, 2020 <br />2. Pre-Commitment Letter <br />3. HOME Investment Partnerships Program Loan Agreement <br />4. Inclusionary Housing Loan Agreement <br />5. Rental Rehabilitation Program Loan Agreement <br />6. Subordination Agreement with Umpqua Bank <br />7. TEFRA Resolution <br />Submitted By: Steven Mendoza, Assistant City Manager <br />Approved By: Kristine Ridge, City Manager