Laserfiche WebLink
Garden Court Apartments Rehabilitation Project <br /> July 16, 2024 <br /> Page 5 <br /> Draft Relocation Plan of Existing Tenants <br /> Relocation activities are subject to California Relocation Assistance Law, Government <br /> Code Section 7260, et seq., and the Relocation Assistance and Real Property <br /> Acquisition Guidelines adopted by the Department of Housing and Community <br /> Development as in Title 25, California Code of Regulations Section 6000, et seq. <br /> The rehabilitation of Garden Court Apartments requires 21 units to be unoccupied for <br /> the start of the four (4) separate phases referenced above. Based upon resident <br /> interviews conducted by Overland, Pacific and Cutler and current household and <br /> income information, it is currently anticipated the vacancy of these units will be achieved <br /> through the permanent relocation of nine (9) existing households that are currently over- <br /> income, six (6) existing vacancies that have been accumulated as of the date of the <br /> Staff Report, and the relocation of six (6) income-qualified households who will be <br /> relocated on a permanent basis but have the right of first refusal to return to Garden <br /> Court Apartments upon completion of the rehabilitation. All households permanently <br /> relocated from the property will be receive relocation benefits. <br /> The requirement to relocate income-qualified households may decrease to the extent <br /> additional units become vacant at the property due to normal turnover. At the time of <br /> relocation, C&C and OHDC will also work to relocate those income-qualified households <br /> to existing C&C/OHDC affordable communities in Santa Ana. <br /> The Relocation Plan as of June 27, 2024, is attached as Exhibit 2. With approval by City <br /> Council, the Acting City Manager will approve any required amendments or <br /> modifications to the Relocation Plan, as reasonably necessary to implement the <br /> approval of the Regulatory Agreement to comply with reasonable conditions of financing <br /> for rehabilitation of the Project. Any changes to final Relocation Plan will be consistent <br /> with the project and approved by the City Manager and City Attorney. The Regulatory <br /> Agreement provides that relocation will not commence unless and until the City is <br /> provided with advance notice and written confirmation that the relocation is consistent <br /> with the Relocation Plan or, to the extent any changes are requested, the City Manager <br /> has approved those changes. <br /> Tax Equity Fiscal Responsibility Act Hearing <br /> C&C Development Co., LLC (the "Borrower) has requested that the California Municipal <br /> Finance Authority ("CMFA") adopt a financing plan to issue one or more series of <br /> revenue bonds, issued periodically, including bonds for refunding such revenue bonds, <br /> in an aggregate principal amount not exceeding $55,000,000 (the "Bonds"). These <br /> funds are intended to finance or refinance the acquisition, rehabilitation, improvement, <br /> and equipping of the multifamily rental housing project located at 300 East Santa Ana <br /> Boulevard, Santa Ana, CA 92701 known herein as the Garden Court Apartments <br /> Project. <br /> However, for any portion of the Bonds to qualify as tax-exempt, the City must conduct a <br /> public hearing (the "TEFRA Hearing"), allowing community members the opportunity to <br /> City Council 27 — 5 7/16/2024 <br />