HomeMy WebLinkAbout2002-05 CRA
7/16/02LS
RESOLUTION NO. 2002-05
A RESOLUTION OF THE COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF
SANTA ANA ACCEPTING A STATE LOAN TO
ASSIST AFFORDABLE HOUSING PROGRAMS
FROM THE CALIFORNIA HOUSING FINANCE
AGENCY ("CHFA"), AND AUTHORIZING THE
EXECUTIVE DIRECTOR OF THE COMMUNITY
REDEVELOPMENT AGENCY TO EXECUTE ALL
NECESSARY DOCUMENTS RELATED THERETO
BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF SANTA ANA, AS FOLLOWS:
Section 1: The Community Redevelopment Agency of the City of Santa
Ana hereby finds, determines and declares as follows:
A. The Agency filed an application with the California Housing Finance
Agency ("CHFA") for funding for the Housing Enabled by Local Partnerships
("HELP") Program to fund affordable housing programs.
B. CHFA has notified the Agency that its application has been approved with
HELP Program funding in the amount of $1 ,200,000.
C. The CHFA Loan will be used to assist Orange Housing Development
Corporation with rehabilitation of the properties located at 935, 1006, 1010, 1014,
and 1018 South Minnie Street.
Section 2: The Community Redevelopment Agency hereby authorizes the
Executive Director of the Community Redevelopment Agency, or his/her
designee, to execute, as an agent for the Community Redevelopment Agency, all
necessary agreements with CHFA, extensions or amendments, for purposes
which include but are not limited to, incurring indebtedness, executing loan
agreements, and committing Agency resources to fund the affordable housing
programs as discussed herein.
Section 3: The Community Redevelopment Agency hereby authorizes the
Executive Director of the Community Redevelopment Agency, or his/her
designee, to execute, as an agent for the Community Redevelopment Agency, all
necessary related loan agreements, extensions or amendments, for purposes
which include but are not limited to, incurring indebtedness, executing loan
agreements, and committing Agency resources to fund the affordable housing
programs as discussed herein.
Resolution No. 2002-05
7/16/02LS
Section 4: The assistance applied for under the aforementioned program
shall not exceed $1,200,000 with a rate of 3% simple interest per annum, with
repayment in full no later than 10 years from the date of CHFA approval.
ADOPTED this 5th day of Auqust 2002.
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\.z> Miguel A Pulido \ \
v Chair
APPROVED AS TO FORM:
Joseph W. Fletcher, Agency General Counsel
By: r.)L'<- [.~
Lisa E. Storck
Assistant Counsel
AYES:
Boardmembers:
Alvarez, Bist, Christy,
McGuiqan, Solorio (6)
Franklin,
NOES:
Boardmembers:
None (0)
ABSTAIN:
Boardmembers:
Pulido (1)
NOT PRESENT: Boardmembers:
None (0)
CERTIFICATION OF ATTESTATION AND ORIGINALITY
I, JOHN P. REEKSTIN, Secretary for the Community Redevelopment Agency, do
hereby attest to and certify the attached Resolution No. 2002-05 to be the
original resolution adopted by the Community Redevelopment Agency for the
City of Santa Ana on Auqust 5, 2002.
Date:
t;/L
Seflfetary
Community Redevelopment Agency
Resolution No. 2002-05