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EXHIBIT 3 <br />Page 2 of 4 <br /> <br />May 20 Apply for 4% tax credits <br />May 20 Plan check (12-16 weeks) <br />Jun 20 Award of AHSC funds <br />July 20 Award of 4% Tax Credits <br />July 20 Award of Tax-Exempt Bonds <br />May 20 Plan Check (12-16 weeks) <br />Jan 21 Building permit issuance <br />Feb 21 Construction closing/syndication <br />Feb 21 Begin construction (24 months) <br />Feb 23 Construction complete <br />June 23 100% fully leased (2 months) <br /> <br />Projects in Pre-Development <br /> <br />Crossroads at Washington – 1126 and 1146 E. Washington Avenue <br /> <br />Aug 19 Submitted PSH application to County <br />Oct 19 Submitted for Planning entitlements <br />Oct 19 Community meeting <br />Nov 19 Approval of Joint Powers Agreement, Option to Ground Lease, Voucher <br />Resolution and Cooperation Agreement, and Regional Housing Needs <br />Assessment (RHNA) Agreement and Density Bonus <br />Dec 19 NEPA EA City Approval – City of Santa Ana submits NEPA EA to HUD <br />Feb 20 PSH Funds and Voucher approval from County Board of Supervisors <br />Feb 20 Planning entitlements approved <br />Mar 20 TCAC 9% Application – 1st Round 2020 <br />Jul 20 TCAC FCAA/9% Application – 2nd Round 2020 <br />Oct 20 TCAC FCAA/9% Award – 2nd Round 2020 <br />Mar 21 Submitted OCHFT PSH NOFA Application <br />May 21 Projected Award for OCHFT PSH NOFA <br />Dec 21 Submit for 1st plan check <br />May 22 City issues permit ready letter <br />May 22 Start construction <br />Aug 23 Construction complete <br />Dec 23 Full occupancy <br /> <br />FX Residences – 801, 809, 809 ½ E. Santa Ana Boulevard <br /> <br />Jan 19 Council approval for land lease and project funding <br />Jan 19 Submittal of application for NPLH funding <br />Feb 19 Confirm with City staff that project site can yield additional units under <br />existing zoning <br />Mar 19 Revise conceptual drawings for additional 5 units (17 total units, up from the <br />original 12 units) <br />Mar 19 SNHP funding application submitted to County <br />Apr 19 City staff to review revised conceptual design