HomeMy WebLinkAboutANR SANTA ANA NSP LLC-2012A-2012-092
INSURANCE NOT ON FILE
WORK MAY NU PROCEED
CLERK OF =COUNCIL AMENDMENT TO
` DATE; NEIGHBORHOOD STABILIZATION PROGRAM
GRANT SERVICES AGREEMENT
WITH ANR SANTA ANA NSP, LLC
` This Amendment is executed by and between the City of Santa Ana, a charter city and
--t7_ municipal corporation organized and existing under the Constitution and laws of the State of
California (hereinafter "City") and ANR Santa Ana NSP, LLC, a limited liability company
c ("Developer") as of May 7 2012.
y
V RECITALS:
A. City and Developer entered into the Neighborhood Stabilization Program (Program 2)
Grant Services Agreement (said "Agreement") on March 1, 2010, for Developer to assist
City with the acquisition, rehabilitation and resale of foreclosed properties.
17
B. The NSP2 Program requires a minimum production goal of 100 units. Due to higher
acquisition and rehabilitation costs, additional funds are required for the City to achieve
this goal. The proposed Foreclosed Homes Acquisition Program ("Program") has been
designed to augment the current NSP2 efforts and ensure the achievement of the 100 unit
goal.
C. The City has approved Substantial Amendments to its 2010-11 and 2011-12 Annual
Action Plans to fund the Program by reprogramming $3.6 Million Dollars in HOME
funds and $1 Million Dollars in CDBG residential loan repayments funds to support the
acquisition, rehabilitation and resale of foreclosed and abandoned single-family homes in
the NSP2 target area to qualified low income households.
D. The parties now desire to amend said Agreement to increase and expand the sources of
funding as discussed.
WHEREFORE, in consideration of the covenants contained in said Agreement, and subject to
all the terms and conditions of said Agreement, except those amended in this Amendment to
Agreement, the parties agree as follows:
1. The funding for the Program 2 activities shall be amended to include HOME and CDBG
funds in an amount not to exceed Five ($5,000,000) Million Dollars plus program income for the
new Foreclosed Homes Acquisition Program.
2. Resale of homes purchased through the new Program will be restricted to households with
incomes at or below 80% of the area median income as determined by the U.S. Department of
Housing and Urban Development.
3. To the extent participating households want to sell their homes, they are required to resell
them to other low income families at an affordable sales price. This resale restriction will remain
for a period of fifteen (15) years after transfer of title to the purchasing household.
4. Except as hereinabove modified, the terms and conditions of said Agreement remain unchanged and
in full force and effect.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment to the Agreement
on the date and year first written above.
ATTEST:
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MARIA D. HUIZAR
Clerk of the Council
CITY OF SANTA ANA
PAUL WALTERS
Interim City Manager
APPROVED AS TO FORM:
SONIA R. CARVALHO
City Attorney
f r.
By: LISA E. STORCK
Assistant City Attorney
DEVELOPER:
ANR Santa Ana NSP, LLC