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DBA 2010-02 December 13, 2010 Page 2 Project History In 1998 the City's Redevelopment Agency purchased the properties on Bush Street in furtherance of the Agency's requirement to provide new sources of affordable housing. Over the ensuing years the Agency issued a number of Requests for Proposals to develop the properties with single family dwellings, but due to various cycles in the residential development market, no project ever came to fruition. Late in 2009 the Agency issued a new Request for Proposals that encompassed three Agency-owned properties including the subject property, as well as property located at 217 and 219 South Birch Street and 435 and 437 South Birch Street. Projects also are proposed for these properties and they will be addressed in separate staff reports. The RFP resulted in the selection of the Developer for the construction of an affordable, multi-family housing project. On September 7, 2010 the Agency approved the Disposition and Development Agreement (DDA) with the Developer. The DDA requires that the 100% of the units be affordable to very low-income households (50% AMI). The beginning rents will be $989 per month for a two-bedroom unit and $1,125 for a three bedroom unit. These income and affordability requirements will be secured through a covenant that must remain in place for at least 55 years. In order to fund the construction, the Developer will apply for tax exempt bonds and tax credits. The DDA also specifies that, at this site, the Developer construct two 2-bedroom units and three 3-bedroom units for a total of five units. Given that the units will be restricted to very-low income families, the construction of these units will assist the City and Agency in meeting the Regional Housing Needs Assessment (RHNA) goals identified in the Housing Element, Consolidated Plan and the Implementation Plan. Project Description Santa Ana WBBB, L.P., is proposing to construct two 2-story buildings to create five apartments. The proposed project is in compliance with the number of units allowed by the general plan land use designation, but exceeds the maximum number of units allowed under the Two-Family Residence (R2) zoning. The buildings will be arranged around a central courtyard, which will provide the common open space for the project. The primary access to the two street level units will be directly from the street, while access to the three units located on the second level will be from the courtyard. The garages and guest parking will be accessed from an alley at the rear of the property. A direct pedestrian connection from the courtyard to the alley will be provided for the convenience of the tenants and guests. The two street level units will be 1,614 square feet in size each and will have three bedrooms, two full bathrooms and a two-car garage with two additional tandem parking spaces on the driveway. Two units will be located above these units. Unit 3 will be 1,684 square feet in size and also have three bedrooms and two full bathrooms. This unit will have access to a two-car garage and two 39A-4