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H-1. RESOLUTION 15-017 DIRECT SUBSIDY AGREEMENT WITH FEDERAL HOME LOAN BANK OF SAN FRANCISCO FOR AFFORDABLE HOUSING PROGRAM (COFFELT-LAMOREAUX PROJECT) Adopt Resolution 15-017 and approve entering into the Direct Subsidy Agreement with the Federal Home Loan Bank of San Francisco in the amount of $1,500,000 effective June 17, 2015, for use in the redevelopment of Coffelt-Lamoreaux Public Housing Project and in accordance with the terms and conditions of the Subsidy Agreement. Upon approval, authorize the Executive Director of the Housing Authority of Maricopa County to sign and submit such documents as are necessary to effectuate and administer the Subsidy Agreement. (C-66-16-001-M-00)

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H-1. FIRST AMENDMENT- RESOLUTION 15-017 FEDERAL HOME LOAN BANK OF SAN FRANCISCO AFFORDABLE HOUSING PROGRAM DIRECT SUBSIDY AGREEMENT COFFELT-LAMOREAUX PROJECT Adopt this First Amendment to Resolution 15-017 and approve the change in Lender from National Bank of Arizona to Raza Development Fund, Inc. for the purpose of entering into the Direct Subsidy Agreement with the Federal Home Loan Bank of San Francisco in the amount of $1,500,000 effective June 17, 2015, for use in the redevelopment of the Project and in accordance with the terms and conditions of the Loan Agreement. HAMC and Gorman & Company, Inc. as Co-Developers intend to revitalize and rehabilitate Coffelt and convert all 301 apartment units from public housing to Section 8 housing utilizing the U.S. Department of Housing and Urban Development's ("HUD") Rental Assistance Demonstration. Coffelt will include community service facilities, office spaces and on-site community centers. Coffelt will be developed in an economical and high-quality manner, and compliant with applicable federal, state, and local rules and laws. Coffelt will be affordable to tenants whose incomes are 60% or less of area median income. (C-66-16-001-M-01)