HomeMy WebLinkAboutFIESTA MARKETPLACE PARTNERS (6)�/*p we wi oA ti4
G11 r OF SANTA ANA
n
'60�►AiY JUN 13 i9
COMMUNITY DEVELOPME'. i
U.S. Departrr, of Housing and Urban Development
Los Angeles Arw... Office, Region IX
1615 Weal Olympia Boulevard
Los Angeles, California 90015-38M
Ms. Cynthia Nelson
Director of Community Development Agency
City of Santa Ana
20 Civic Center Plaza
Santa Ana, CA 92702 ,
Dear Ms. Nelson:
SUBJECT: Urban Development Action Grant Program
Fiesta Market Place Project
Project Number: B-84-AA-06-0615
Approval of Legally Binding Commitments
7 JUN 1988
i
r
I
On April 26, 1988, the Department accepted the Legally Binding
Commitments, paragraphs I through XXII of Exhibit E of the Amended
Grant Agreement, for the project. _
Your agency may draw down $678,000 pursuant to the requirements
of the Amended Grant Agreement and the Letter of Credit procedures.
You must have in file the documentation called for by paragraphs
III(a)(3)(aa)(iv), IV(a)(3)(aa)(iv), and V(a)(3)(aa)(iv) of the
Amended Grant Agreement before funds are disbursed to the developers.
Please note that the funds allocated to the Escalante portion of
the project ($11,000) are not included in the above authorization.
These funds are deleted from the project financing plan and will not
be available for disbursement. Your agency may draw down the funds
allocated to the Ceballos portion of the project for new construction
activities only. These funds ($36,000) may be drawn down at the
ratio of $1.00 of UDAG funds to $11.50 of countable private funds -
spent for new construction to a maximum of $36,000.''
Enclosed is a copy of the amended Letter.of Credit. Upon
satisfying statutory and regulatory program requirements, you are
authorized to draw down funds against the Letter of Credit by
forwarding Treasury Form SF-183, "Request For Payment on Letter of
Status of Funds Report", to the Treasury Regional Disbursing Office
identified in the Letter of Credit. The Treasury Regional Disbursing
Office will mail a Treasury check to your depository -for deposit in
your account. Enclosed is a supply of Treasury Forms SF-183.
Additional Treasury Forms SF-183 may be obtained from the HUD
Los Angeles Office.I
Il Sin er.ely,
Benjamin F. Bobo, Ph.D.
Manager
Los Angeles office, 9.4S
Enclosure
ISSUING AGENCY U.S. Dom. OF
HOUSING AND URMN DEVELOPMENT
450 GOLDEN GATE AVE. SOX $6003
SAN FRANCISCO, CA 94102
AGENCY STATION SYMBOL
86D0-WO6
LETTER OF
CREDIT
Auth: Treasury Department
Circular No. 1076, Revised
(FOR AGENCY USE)
684-AA-06-0615
TO: Treasury Disbursing Center or Regional Office 1 Address:
SAN >rRANCISCO DISBURSING CENTER
LETTER•OF-CREDIT NUMBER
g6-D(�9034
AMENDMENT NUMBER 25
EFFECTIVE DATE
June 17, 1988
U.S. DEPARTMENT CE TREASURY
PO BOX 3358
SAN F ANCISCO, CA 94119
In, accordance with the authorization of the Fiscal Assistant Secretary, Department of the Treasury, there Is hereby authorized
for the account and responsibility of the Issuing agency a letter of credit:
IN FAVOR OF:
TREASURY CHECKS TO BE MADE PAYABLE TO:
City of Santa
Ana
City of Santa Ana
20 Civic Center Plaza
Acct No: 180-8980DO
Santa Ana, CA
92701
C/O Irirst..Interstate Sank
1018 North Street
,Rain
Santa Ana,.CA 92701
{
AMOUNT AUTHORIZED
TIME DESIGNATION
PRIOR AUTHORIZATION
THIS CHANGE
Increase
x45,044,537.00
❑ EACH FISCAL YEAR
44,366,537.fl0
$ 678,000.00
"(WITHOUT TIME LIMIT
Decrease
Time Designation: Each Fiscal Year
❑ The unpald balance of this letter of credit Is revoked at the and of each fiscal year and the full amount authorized Is reestablished
at the beginning of each fiscal year unless you are advised in writing that this letter has been revoked.*
OR
p The unpaid balance of this letter of credit Is carried forward at the end of each fiscal year and will remain available during the
following fiscal year and, In addition, the full amount authorized Is reestab.lishec( pt the beginning of each fiscal year unless you are
advised in writing that this letter has been revoked.'
Time Designation: Without Time Limit
The unpaid balance of this letter of credit will remain available until you are advised in writing that this letter has been revoked.*
The amount of this letter of credit is hereby certified to be drawn against, upon presentation to you of Standard Form 183, Request
for Payment on Letter of Credit and Status of Funds Report, by the official(s) of the recipient organization whose signature(s)
appear(s) on the Standard Form 1194, Authorized Signature Card for Payment Vouchers on Letter of Credit, attached har6to or
previously or subsequently furnished you.
The amount of each Request for Payment paid by the Department of the Treasury to the recipient organization at a designated
commercial bank shall constitute payment to the recipient organization by the United States.
I certify to the Department of the Treasury that the payments authorized herein are correct and proper for payment from the
appropriations or funds legally committed and available for the purpose, when paid in accordance with the terms and conditions cited
above.
*This letter of credit Is irrevocable to the extent the recipient organizati n has obligated funds in god faith thereunder in executing
the authorized Federal program In accordance with the grant, contract, r oth r agreement.
DATE CERTIFIED June 8, 1988_
AUTHORIZO CERTIFYING OFFICER
Diana Russo, Certifying_Dfficer
TYPED NAME AND TITLE
H93--201 DURLICATf—Federal Program Agency will forward this copy to the
rteciplent Organization.
MM 1193A
WT. OF TREASURY
MEMORANDUM
To: Betty Dang
From: Patti Nunn
Subject:__.___FIESTA MARKETPLACE LOAN AGREEMENT
Date: March 9, 1989
Attached for your information is the HUI) acceptance letter for the
legally binding commitments on Fiesta Marketplace. The Fiesta
Marketplace Loan Agreement referenced in your Agreement Status Report is
one of the legally binding commitments approved by HUD on April 26, 1988.
Should you have any questions, please do not hesitate to call me at X1361—
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