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21. Approve a $1,687,047 Loan Agreement with North Harbor Housing Partners LP for <br />a 55-Year Term for the Development of the North Harbor Village Affordable Housing <br />Project; Approve a Future Subordination Agreement with JP Morgan Chase Bank, <br />N.A.; Approve a Future Subordination Agreement with the State of California <br />Department of Housing and Community Development (Non -General Fund) <br />Department(s): <br />Recommended Action: 1. Authorize the City Manager to execute a loan <br />agreement with North Harbor Housing Partners LP (c/o Jamboree Housing <br />Corporation) for $1,687,047 in Community Development Block Grant funds for the <br />development of the North Harbor Village affordable housing project located at 1108 <br />N Harbor Boulevard, Santa Ana, CA 92701, subject to non -substantive changes <br />approved by the City Manager and City Attorney (Agreement No. 2021-XXX). <br />2. Authorize the City Manager to execute two future Subordination Agreements with <br />Union Bank and Jamboree Housing for the City's Community Development Block <br />Grant loan agreement with North Harbor Housing Partners LP, prior to the <br />execution of the loan agreement, subject to non -substantive changes approved by <br />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, for the <br />City's Community Development Block Grant loan agreement with North Harbor <br />Housing Partners LP, after the North Harbor Village affordable housing project is <br />complete, subject to non -substantive changes approved by the City Manager and <br />City Attorney. <br />