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Quarterly Report for Housing Division <br />October 6, 2020 <br />Page 9 <br />The developer was awarded $25,431,865 in Affordable Housing and <br />Sustainable Communities (AHSC) funding in June. The developer applied <br />Update for 4% tax credits and tax exempt bonds in June. The developer was <br />awarded a total of $6,013,134 for 16 No Place Like Home (NPLH) units - <br />$3,135,262 for capital and $2,887,872 for the capitalized operating subsidy <br />reserve. <br />North Harbor Villaae (1108 N. Harbor) <br />Developer <br />Jamboree Housing Corporation <br />New construction of a 100% affordable multifamily apartment complex <br />Description <br />consisting of 89 permanent supportive housing studio units for homeless <br />veterans. <br />City Funds <br />Eight -nine (89) HUD-VASH PBVs and CDBG ($1,687,047) <br />Multifamily Housing Program (MHP) funding awards were announced in <br />late December and the developer did not receive an MHP grant due to <br />extraordinary competition across the state. The developer submitted an <br />application to the Veterans Housing and Homelessness Prevention (VHHP) <br />Program on February 13, 2020. The developer also resubmitted an MHP <br />application on March 3, 2020 for the second round as an alternative <br />financing strategy. This award was highly competitive and the developer did <br />not receive MHP financing. Additionally, the developer applied on March <br />25, 2020 to the Orange County Housing Finance Trust fund for additional <br />Update <br />financing. On May 13, 2020, the developer received financing commitment <br />for $2,292,920 from OCHFT. On June 10, 2020, the developer received a <br />financing commitment for $10,000,000 from VHHP. On June 11, 2020, the <br />developer applied for tax exempt bond financing through CDLAC totaling <br />$24,000,000. This tax exempt bond financing will be used for the <br />construction loan. On July 1, 2020, the developer applied for 4% <br />competitive state and federal tax credits. Awards for these financing <br />sources should be announced in July and September respectively. If <br />awarded tax credits, construction would then likely begin early to late Q1 <br />2021. <br />Westview House (2530 Westminster Avenue) <br />Developer <br />Community Development Partners <br />New construction of an affordable multifamily apartment development <br />Description <br />consisting of 85 units of both large family and permanent supportive <br />housing with 1 manager's unit. Twenty-six of the units will be funded by <br />MHSA funds and the NPLH program. <br />City Funds <br />Inclusionary Housing ($1,514,113), HOME Investment Partnerships <br />Program $2,003,705 and Rental Rehabilitation Program $386,523 <br />19C-9 <br />