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RES-2010-077RESOLUTION NO. 2010 -077 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM (I) AUTHORIZING THE SUBMITTAL OF A STREAMLINED APPLICATION TO THE CALIFORNIA STATE DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT FOR FUNDING UNDER THE BEGIN PROGRAM FOR THE AFFORDABLE HOUSING PROJECT LOCATED AT 516 E. SANTA ANA STREET, (II) IF SELECTED FOR SUCH FUNDING, AUTHORIZING THE EXECUTION OF A STANDARD AGREEMENT, ANY AMENDMENTS THERETO AND ANY RELATED DOCUMENTS NECESSARY TO PARTICIPATE IN THE BEGIN PROGRAM, AND (III) IF SELECTED FOR SUCH FUNDING, AMENDING THE BUDGET FOR FISCAL YEAR 2010 -11 ACCORDINGLY WHEREAS, the City of Anaheim (the "City ") submitted an application dated as of May 16, 2006 (the "Original City Application ") to the California Department of Housing and Community Development ( "HCD ") requesting One Million Three Hundred Fifty Thousand Dollars ($1,350,000) in response to a Notice of Funding Availability ( "NOFA ") for the BEGIN Program established by Chapter 14.5, Sections 50860 through 50866 of Part 2 of Division 31 of the California Health and Safety Code (the "Statute "); and WHEREAS, pursuant to the Statute, HCD approved the Original City Application and entered into that certain Standard Agreement (06 -BEGIN-073) with the City (the "Original Standard Agreement ") utilizing monies made available to the BEGIN Program by the State Legislature, subject to the terms and conditions of the Statute and the BEGIN Program Guidelines adopted by HCD (the "BEGIN Program Guidelines "); and WHEREAS, funding made available under the NOFA for the BEGIN Program ( "BEGIN Program Funding ") could be used to provide, among other things, down payment assistance to first time homebuyers in Anaheim with household incomes that do not exceed one hundred twenty percent (120 %) of area median income; and WHEREAS, the City submitted the Original City Application and entered into the Original Standard Agreement anticipating that a one hundred thirty -five (135) unit affordable housing agreement (the "Original Affordable Housing Development ") would be constructed at 516 East Santa Ana in the City (the "Affordable Housing Development Site ") pursuant to an agreement between the Anaheim Redevelopment Agency (the "Redevelopment Agency") and WL Homes LLC (the "Original Affordable Housing Agreement "); and WHEREAS, to date, the Original Affordable Housing Development has not been constructed and the Original Affordable Housing Agreement has been terminated; and WHEREAS, the Redevelopment Agency and Brookfield Olive Street II LLC are parties to that certain Disposition and Development Agreement (Colony Park Phase III, Parcels J & K) dated as of September 1, 2009 which provides for the development of an approximately one hundred eighty -two (182) unit affordable housing development (the "Affordable Housing Development ") at the Affordable Housing Site; and WHEREAS, the City desires to submit a streamlined application to HCD permitting the City to utilize the BEGIN Program Funding originally allocated to the City by HCD pursuant to the Original City Application and the Original Standard Agreement to provide down payment assistance of up to twenty percent (20 %) of the sales price to first time homebuyers (i) who acquire homes in the Affordable Housing Development and (ii) have household incomes that do not exceed one hundred twenty percent (120 %) of area median income (the "Streamlined Application "). NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF ANAHEIM DOES HEREBY RESOLVE AS FOLLOWS: Section 1. Approval of Streamlined Application. The Streamlined Application is hereby approved. Section 2. Authority to Execute and Submit Streamlined Application. The Executive Director of the City's Community Development Department, or her designee, is hereby authorized and directed to execute and submit the Streamlined Application to HCD. Section 3. Authority to Execute Documents and Take Further Actions. The Executive Director of the City's Community Development Department, or her designee, is hereby authorized and directed, if the City is selected by HCD to receive BEGIN Program Funding, to take such other actions as are consistent with the Streamlined Application, including the execution of a Standard Agreement prepared by HCD and all other documents and amendments required by HCD for participation in the BEGIN Program. Section 4. Agreement to Utilize BEGIN Program Funding in a Manner Consistent with the Streamlined Application and the BEGIN Program Guidelines. The City hereby agrees to use BEGIN Program Funding for eligible activities in the manner presented in the Streamlined Application as approved by HCD and in accordance with the BEGIN Program Guidelines, if selected by HCD to receive such funding. Section 5. Amendment of Budget. Contingent upon the award of a grant and the receipt of funds based upon the Streamlined Application, the annual budget of the Community Development Department of the City for Fiscal Year 2010 -11 shall be amended by increasing the appropriations and authorized expenditures in the amount equal to the amount of grant funds received by the City. 2 THE FOREGOING RESOLUTION IS PASSED, APPROVED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF ANAHEIM THIS TWENTY- SECOND (22 DAY OF JUNE, 2010 BY THE FOLLOWING ROLL CALL VOTE: AYES: Mayor Pringle, Council Members Sidhu, Hernandez, Galloway, Kring NOES: NONE ABSTAIN: NONE ABSENT: NONE a 42 U4 MAYOR OF THE CIT OF ANAHEIM ATTEST: . � Qrr CLERK OF THE CITY OF A AHEIM APPROVED AS TO FORM: CRISTINA L. TALLEY, CITY ATTORNEY B JO NN E. WOODHEAD IV Assistant City Attorney 77357.1 3