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Inclusionary Housing Fund has generated $28.2 million that has <br />been used to develop new affordable housing, provide emergency <br />shelter, and create homeownership opportunities. A total of 107 <br />affordable housing units have been created, and an additional 86 <br />units have been committed through such fees. <br />The AHOCO outlines various on -site affordable requirements for <br />eligible ownership and rental projects. However, provisions allow <br />for the payment of in -lieu fees rather than building the affordable <br />housing units on -site. The Project would be a market -rate <br />residential development with no units dedicated to affordable <br />housing for lower -income residents. However, the Project would be <br />required to pay an inclusionary housing in -lieu fee, consistent with <br />the City's AHOCO, to further the production of affordable housing <br />units and development within the City. As previously outlined, the <br />Project will contribute an estimated $8,043,600 in in -lieu fees, <br />which must be spent on production of affordable housing in the City <br />of Santa Ana. <br />Moreover, the Project would not remove any housing or affordable <br />housing units. Rather, it would increase the housing stock of <br />market -rate and affordable housing units through payment of an in - <br />lieu fee. The Project would result in a net increase of 507 total units <br />which consists of wide range of housing types, including apartment <br />units at different bedroom counts and townhome style units, <br />consistent with the City's General Plan goals and policies. <br />Therefore, the Project is in compliance with the AHOCO and the <br />City's General Plan Land Use and Housing Element. <br />General Plan Consistency <br />The City's AHOCO, and specifically the in -lieu provisions, are <br />consistent with various goals in policies in the City's General Plan <br />Housing Element (HE), including Goal 2 and 3, and policies HE-2.7, <br />HE-3.1, and HE-3.2, outlined below: <br />Goal 2 — Foster an inclusive community with a diversity of quality <br />housing, affordability levels, and living experiences that <br />accommodate Santa Ana's residents and workforce of all <br />household types, income levels, and age groups. <br />• Policy HE-2.7 <br />Affordable Component. Pursuant to the Affordable Housing <br />Opportunity and Creation Ordinance (AHOCO), require <br />eligible rental and ownership housing projects to include at <br />least 15 percent of the rental housing units as affordable for <br />Resolution No. 2023-xx <br />City Council 18 — 331 10/ 0 3 f 24 <br />