Item 68 - Crossroads at Washington Affordable Housing Project at 1126, 1136, & 1146 East Washigton Ave.

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2206002.SA Page 1 19090.018.019 June 3, 2022 SUMMARY REPORT PURSUANT TO SECTION 33433 OF THE CALIFORNIA HEALTH AND SAFETY CODE ON A GROUND LEASE BY AND BETWEEN THE HOUSING AUTHORITY OF THE CITY OF SANTA ANA AND THE COUNTY OF ORANGE AND WASHINGTON SANTA ANA HOUSING PARTNERS, L.P. The following Summary Report has been prepared pursuant to the requirements imposed by California Health and Safety Code Section 33433 (Section 33433). The report sets forth certain details of the proposed Ground Lease by and between the Housing Authority of the City of Santa Ana (Agency), the County of Orange (County) (collectively, the County and the Agency are referred to as “Lessor”) and Washington Santa Ana Housing Partners, L.P. (Tenant). In 2007, the former Community Redevelopment Agency of the City of Santa Ana (Former Redevelopment Agency) used Property Tax Increment Housing Set-Aside (Set-Aside) funds to purchase the property located at 1126, 1136 and 1146 Washington Avenue (Agency Site). Following the dissolution of redevelopment in California in 2012, this property was transferred as a housing asset to the Agency, acting as the housing successor to the Former Redevelopment Agency. The County owns an adjacent property to the south of the Agency Site (County Site). The County and Agency have executed a Joint Powers Agreement to provide a combined Agency Site and County Site (collectively “Site”), totaling approximately 2.28 acres of undeveloped land, to allow for the development of multifamily affordable housing project (Project). To effectuate the development of the Project, the Agency and County propose to ground lease the Site to the Tenant for no more than 65 years. The Tenant proposes to construct and operate an 86-unit apartment project that will be subject to long-term income and affordability covenants. Eighty-five (85) of the units will be restricted to Extremely Low Income households, and one unit will be reserved for an on-site manager. The Site will be conveyed to the Tenant in the form of a ground lease that will remain in effect for 65 years. In addition, the Agency will provide financial assistance to the Tenant per the requirements imposed by loan agreements that are separate from the Ground Lease. EXHIBIT 14