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HomeMy WebLinkAbout19C - RECEIVE AND FILE QRTLY REPORT FOR HOUSINGREQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: MAY 5, 2020 TITLE RECEIVE AND FILE QUARTERLY REPORT FOR HOUSING DIVISION PROJECTS AND ACTIVITIES JANUARY 2020-MARCH 2O20 CLERK OF COUNCIL USE ONLY: ❑ As Recommended ❑ As Amended ❑ Ordinance on 111 Reading ❑ Ordinance on 2ntl Reading ❑ Implementing Resolution ❑ Set Public Hearing For CONTINUED TO /s/Kristine Ridge FILE NUMBER CITY MANAGER RECOMMENDED ACTION Receive and file the Quarterly Report for Housing Division Projects and Activities for the period of January 2020-March 2020. COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION ACTION All commission meetings were canceled for the month of April 2020 due to the COVID-19 local emergency and closure of City Hall. DISCUSSION This report for the quarter ending on March 31, 2020 provides statistics for all of the affordable housing projects and activities for the Housing Division. The report is divided into four sections: Loan Activity, Loan Portfolio Management and Monitoring, Affordable Housing Funds and Commitments, and Development Projects. Loan Activity Applications The Housing Division offers several different programs including down payment assistance for first- time homebuyers and rehabilitation loans for mobile homes, single-family, multi -family, and historic homes. Inquiries are received from the public and applications are mailed out, received and approved for these programs on a continual basis. Table 1 shows the number of inquiries, applications sent out, received and approved by type for the quarter and for the total fiscal year. Table 1: Applications Sent Out, Received & Approved Program Inquiries Applications Sent Out Applications Received Applications Approved Q3 Total FY Q3 Total FY Q3 Total FY Q3 Total FY Single -Family Rehabilitation 0 28 4 25 4 7 4 4 Mobile Home Rehabilitation 5 12 2 2 2 5 2 2 Multi -Family Rehabilitation 0 1 0 0 0 0 0 0 Historic Home Restoration 0 1 0 0 0 0 0 0 Homeownership/ DPAP 11 203 8 165 6 13 3 6 19C-1 Quarterly Report for Housing Division May 5, 2020 Page 2 The number of applications received is typically lower than the number of applications sent out in any given period due to the stringent program guidelines for eligibility regulated by the federal government, which makes it difficult for most applicants to qualify. Due to the coronavirus (COVID- 19), application processing for the Down Payment Assistance Program, Single -Family and Mobile Home Rehabilitation Program are currently on hold. There are currently nine applications for the Single -Family Rehabilitation Program and four applications for the Mobile Home Rehabilitation Program. Rehabilitation Loan Underwritinq and Approval Progress During this quarter, three (3) home rehabilitation loans were funded this quarter including two mobile homes and one single-family. Rehabilitation Program Construction Progress During this phase, homeowners receiving rehabilitation loans are guided through an open selection of contractors to complete the work on their homes. Each homeowner is given a list of contractors that have been screened by staff for license and insurance requirements. However, homeowners are allowed to select any contractor that meets these same requirements. Staff assists the homeowners with the evaluation of bids and selection of a contractor. Staff also monitors the construction work, approves payments to contractors, and tracks expenditures to ensure compliance with the loan agreement and program guidelines. During this quarter, no rehabilitation of single-family homes or mobile homes were completed. Down Payment Assistance Loan Program (DPAP) Progress For the Down Payment Assistance Loan Program, staff evaluates applicant eligibility and oversees underwriting to ensure compliance with program guidelines and requirements established by the U.S. Department of Housing and Urban Development (HUD). During this quarter, staff conducted one (1) down payment assistance workshop in February. One new down payment assistance application was pending loan packet and escrow information. Loan Portfolio Management & Monitoring The Housing Division is responsible for managing the residential loan portfolio which includes all of the loans entered into by the City and Housing Authority acting as the Housing Successor Agency. The information below is from the second quarter. The third quarter updates will be provided once staffing is returned to full capacity after COVID-19. As of the end of the second quarter, the principal balance was $136,950,890. This is comprised of 371 loans of which 345 are deferred or residual receipt payment loans. As shown in Table 2, the loan portfolio generated $565,429 in payments of principal and interest during the second quarter. The amount of residual receipts payments changes every quarter and is often higher at the end of the year. Table 2: Portfolio Revenue Funding Source HOME CDBG Redevelopment NSP CalHOME Loan Payoffs $29,568 $0 $11,962 $0 Residual Receipts Payments $212,499 $0 $285,434 $0 $0 Amortized Loan Payments $834 $7,392 $17,741 $0 $0 Total For Q2 $242,900 $7,392 $303,175 $11,962 $0 19C-2 Quarterly Report for Housing Division May 5, 2020 Page 3 Monitoring As part of the requirements for these funds, staff must monitor the owner -occupancy of single- family homes that have received loans, and the building code compliance of units in rental projects with long-term affordability covenants. During this quarter, 70 owner -occupancy recertification letters were mailed and 53 were returned and processed. This number includes letters sent from previous months. On -site compliance monitoring of the tenant files was not conducted this quarter due to COVID-19. Prior to all inspections being put on -hold due to COVID-19, staff conducted building code compliance inspections for 113 units on seven (7) properties which represents a sampling of 36% of the total units in the properties. Regulations require that only a sample of units be selected for inspection. Staff also inspects the grounds and common areas such as laundry rooms to ensure they also meet municipal code requirements. The grounds, common areas and all of the inspected units were found to be in compliance at the time of initial inspection. Available Funds and Land Assets for Affordable Housing Development Projects The City of Santa Ana and the Housing Authority acting as the Housing Successor Agency manages multiple sources of local, state and federal funds to promote and facilitate the development of affordable housing as well as land assets held by the Housing Authority. Exhibit 1 provides a summary of the funds available as of March 31, 2020. Exhibit 2 provides a summary of available land assets. Housing Opportunity Ordinance On -Site Development: Since 2011, a total of 33 units have been developed on -site as a result of the Ordinance, including 23 ownership units for -sale and 10 rental units: Units Built On -Site Ownership Rental TOTAL 23 10 33 In -Lieu Fees Generated. - All in -lieu fees, penalties and other monies collected pursuant to the Housing Opportunity Ordinance, including interest, are deposited into the Inclusionary Housing Fund. Since inception, the Inclusionary Housing Fund has generated $17,872,871 to be used for the development of housing affordable to low- and moderate -income households, with a reasonable amount spent on administrative or related expenses associated with the administration of the Housing Opportunity Ordinance. These fees were generated from a total of 12 projects that opted to pay the in -lieu fee instead of building units on -site. If those 12 projects had instead built the inclusionary housing units on -site, a total of 409 affordable housing units would have been created. Affordable Housing Units under Construction / Pre -Development with In -Lieu Fees: A total of 203 units are under construction / pre -development with an investment of in -lieu fees generated. This includes a $4,775,000 loan of in -lieu fees to develop 57 units of affordable housing at the Santa Ana Arts Collective; a $1.3 million loan of in -lieu fees to develop 51 units of affordable 19C-3 Quarterly Report for Housing Division May 5, 2020 Page 4 housing at the Tiny Tim Plaza project; a pre -loan commitment of $3,170,547 to develop 93 units of affordable housing at the Legacy Square project; and a commitment of $231,494 to develop two affordable homeownership units by Habitat for Humanity at 416 Vance Street and 826 N Lacy Street. Units Under Construction / Pre -Development with In -Lieu Fees Project # of Units Santa Ana Arts Collective 57 Legacy Square 93 Tiny Tim Plaza 51 416 Vance Street & 826 N. Lacy Street 2 TOTAL 203 This report reflects the status of funds and projects for the period ending March 31, 2020. Request for Proposals — RFP #19-063 for Affordable Housing Development The City of Santa Ana and the Housing Authority of the City of Santa Ana issued a new Request for Proposals (RFP # 19-063) on July 8, 2019 for the development of affordable housing in the City. Following the issuance of this RFP and a deliberative selection and review process followed by the City, on February 19, 2020, the Community Redevelopment and Housing Commission recommended that the City Council authorize the City Manager to execute a pre -commitment letter with Community Development Partners and Mercy House Community Housing Development Organization for $3,904,341 in affordable housing funds consisting of $1,514,113 in Inclusionary Housing funds, $2,003,705 in HOME Investment Partnerships Program funds and $386,523 in Rental Rehabilitation Program funds for the development of the Westview House affordable housing project located at 2530 and 2534 Westminster Avenue, Santa Ana, CA 92701, (APNs 198- 132-21 and 198-132-23). Affordable Housing Development Projects There are four (4) affordable housing developments under construction and five (5) affordable housing projects in pre -development. An existing affordable housing development (Cornerstone Apartments) is also being rehabilitated. Below are brief summaries for the nine (9) projects under construction / pre -development and the tenth project under rehabilitation. Exhibit 3 provides a development timeline for the larger development projects. Projects under Construction Santa Ana Arts Collective (1666 N. Main Street) Developer Meta Housing Corporation Acquisition, adaptive reuse and new construction project comprised of 57 Description affordable rental units designated for professional artists of all disciplines, and 1 manager's unit. Permanent supportive housing for 15 units will be funded by MHSA/SNHP funds from the County of Orange. Inclusionary Housing ($4,775,000), HOME Investment Partnership City Funds Program (HOME) ($2,627,631), Community Development Block Grant CDBG $500,000 19C-4 Quarterly Report for Housing Division May 5, 2020 Page 5 The project received a Temporary Partial Certificate of Occupancy at the end of December 2019. Construction is 93% complete and anticipated to Update lease up in May 2020. The contractor is completing the courtyard, playground, and window work. All 15 MHSA units have been leased up. The developer is continuing lease up efforts and has leased up 46 out of 56 units. Santa Ana Veterans Villaqe (3312 W. First Street) Developer Jamboree Housing Corporation New construction of an affordable multifamily apartment complex consisting Description of 75 units of permanent supportive housing with wrap -around supportive services for HUD -Veterans Affairs Supportive Housing (VASH) eligible homeless veterans and 1 manager's unit. City Funds Seventy-five (75) HUD-VASH Project -Based Vouchers, HOME-CHDO $477,345.90 Construction is approximately 90% complete. The project is set to be completed and occupied by the end of April 2020. Contractor is forming and pouring gutters with landscape and onsite paving work to begin this week. Update All unit and common area furniture and appliances are scheduled to be installed by the end of next week. The construction team is taking all safety precautions onsite by practicing social distancing and wearing protective gear. All units and common area spaces will receive a more thorough secondary clean prior to resident move -ins. Aqua Housing (317 E. 17th Street) Developer Community Development Partners with Mercy House as the service provider Acquisition, demolition and new construction of a former motel yielding 56 units of affordable permanent supportive housing with wrap -around Description supportive services for chronically homeless individuals and 1 manager's unit. 28 of the 56 units will be funded by MHSA/SNHP funds from the County of Orange. City Funds Fifty-six (56) Project -Based Vouchers (PBVs) Construction is now approximately 34% complete. Framing is complete on the rear residential building (segment C) and windows and roof have been Update installed. The podium deck has been poured for segments A & B and framing will commence this week. Safety measures are in place at the job site with PPE and social distancing being enforced for all workers. 19C-5 Quarterly Report for Housing Division May 5, 2020 Page 6 Tiny Tim Plaza (2239 West 5th Street) Developer Community Development Partners New construction of an affordable multifamily apartment complex consisting Description of 50 units of rental housing serving very -low and extremely -low income families, and 1 manager's unit. City Funds Inclusionary Housing ($1,300,000), Housing Successor Agency $4, 700, 000 The project is currently under construction, including framing and trades above the podium deck, at 27% complete. The retail renovations have Update been permitted, and construction is to begin in April. Owner and management are beginning marketing and lease -up plans in anticipation of occupancy at the end of 2020. Projects in Pre -Development Crossroads at Washington (1126 and 1146 E. Washington Avenue) Developer Related Companies of California with A Community of Friends (ACOF) as the service provider New construction of a 100% affordable multifamily apartment complex Descri tion p consisting of 85 units of rental housing and 1 manager's unit. All units will be affordable to households earning less than 30% AMI of which 43 units will be set -aside for permanent supportive housing. HOME Investment Partnerships Program ($3,007,489), Neighborhood City Funds Stabilization Program ($963,951), sixty-five (65) year ground lease agreement for 1126 and 1146 E. Washington Avenue (Appraised Value as of September 22, 2019: $4,108,136 The Project received its entitlements on February 24, 2020. The Project received a formal commitment for the 43 Project Based Vouchers from the Orange County Housing Authority on March 5, 2020. In February, the City and County approved the 65 year Ground Lease, Option Agreement for the Ground Lease, Joint Powers Agreement and Quitclaims associated with the Update JPA. The documents were approved by City Council on February 18. The Option Agreement was executed shortly afterwards. Following these approvals, the developer submitted a 9% Tax Credit application for the TCAC 9% Application 1st Round on March 9 and is awaiting the official results. Preliminary results show that the developer will not be awarded funding in the 1st Round and therefore will need to submit another 9% Tax Credit application for the 2"d Round on July 1, 2020. FX Residences (801, 809, 809 % East Santa Ana Boulevard) Developer HomeAid Orange County, Inc. with Mercy House as the service provider Description New construction of an affordable multifamily apartment complex consisting of 16 units of permanent supportive housing, and 1 manager's unit. 19C-6 Quarterly Report for Housing Division May 5, 2020 Page 7 City Funds Housing Successor Agency ($1,069,947), three (3) HUD-VASH PBVs, 99- year ground lease agreement for 801 E. Santa Ana Blvd. (Appraised Value as of Oct 25, 2018: $788,000 The developer submitted revised drawings to the City of Santa Ana on March 10, 2020. The developer and Public Works staff met several times to resolve critical design issues before the second submittal package could Update be completed. HomeAid Orange County is in ongoing communication with state HCD and CAL HFA. Both entities will coordinate the disbursement of capital funds to be used for the permanent financing of the project. On March 28, HomeAid Orange County applied to the Orange County Housing Finance Trust for additional gap funding. Habitat for Humanity (416 Vance Street & 826 N. Lacy Street) Developer Habitat for Humanity of Orange County Description New construction of two single-family detached homes for homeownership serving households up to 120% AMI. Inclusionary Housing ($231,494) and 99-year ground lease agreement for City Funds 416 Vance Street and 826 N. Lacy Street (Appraised Value as of Oct 25, 2018: $578,000 The developer submitted architectural drawings to Jeff Dickman of the Historic French Park Committee. They are currently under review by the committee. The developer is currently finalizing the grading/engineering Update plans and preparing for submittal. They are also working with SCE to abandon an easement that currently exists between the two parcels. After they have substantial approval from the French Park Committee on the architecture, the developer will enter the structural design phase and complete the construction drawings for submittal. Legacy Square (609 North Spurgeon Street) Developer National Community Renaissance with Mercy House as the service provider New construction of a 100% affordable multifamily apartment complex Description consisting of 92 units of rental housing and 1 manager's unit. All units will be affordable to households earning less than 60 /o AMI of which 33 units will be set -aside for permanent supportive housing. City Funds Inclusionary Housing ($3,170,547) and eight (8) HUD-VASH PBVs The developer applied for Affordable Housing and Sustainable Communities (AHSC) funding on February 11. AHSC scoring letters will be mailed in early May and awards announced on June 25. The developer Update anticipates applying for 4% tax credits and tax exempt bonds on May 15. The developer was awarded a total of $6,013,134 for 16 No Place Like Home (NPLH) units - $3,135,262 for capital and $2,887,872 for the capitalized operating subsidy reserve. 19C-7 Quarterly Report for Housing Division May 5, 2020 Page 8 North Harbor Village (1108 N. Harbor) Developer Jamboree Housing Corporation New construction of a 100% affordable multifamily apartment complex Description consisting of 89 permanent supportive housing studio units for homeless veterans. City Funds Eight -nine (89) HUD-VASH PBVs and CDBG ($1,687,047) Multifamily Housing Program (MHP) funding awards were announced in late December and the developer did not receive an MHP grant due to extraordinary competition across the state. The developer submitted an application to the Veterans Housing and Homelessness Prevention (VHHP) Program on February 13, 2020. The developer also resubmitted an MHP application on March 3, 2020 for the second round as an alternative Update financing strategy. Additionally, the developer applied on March 25, 2020 to the Orange County Housing Finance Trust fund for additional financing. The developer believes that the VHHP application combined with funding from the OCHFT is the most obtainable financing strategy. If the developer is successful, they will submit a 4% tax credit application on August 21, 2020. If awarded tax credits, construction would then likely begin early to late Q1 2021. Existing Projects under Rehabilitation Cornerstone Apartments (805, 810, 815, 816, 825, 835 and 904 S. Minnie Street) Developer Jamboree Housing Description Rehabilitation of a 126-unit affordable housing project originally built in 1961. City Funds HOME Investment Partnerships Program ($5,128,152) and Housing Successor Agency $2,054,327 in existing affordable housing loans Ten (10) existing HOME Program loans and thirty-three (33) existing Housing Successor Agency loans were consolidated into two (2) Amended and Restated Loan Agreements in order to enable the project to re - syndicate and resubordinate existing affordable housing loans to a new Update senior loan. Construction work started in October 2019 and is currently 59 percent complete. Interior unit work has currently been put on hold due to COVID-19. Exterior work is continuing as planned. The completion date for the project was originally the end of June 2020. Due to the circumstances, it is difficult to ascertain the exact completion date, but the developer is targeting July 2020 if possible. STRATEGIC PLAN ALIGNMENT This report support's the City's efforts to meet Goal #5 - Community Health, Livability, Engagement & Sustainability, Objective #3 (facilitate diverse housing opportunities and support efforts to preserve and improve the livability of Santa Ana neighborhoods). 19C-8 Quarterly Report for Housing Division May 5, 2020 Page 9 FISCAL IMPACT There is no fiscal impact associated with this action. Exhibits: 1. Available Funds for Affordable Housing Development Projects 2. Available Land Assets for Affordable Housing Development 3. Project Timelines 19C-9 EXHIBIT 1 Available Funds for Affordable Housing Development Projects As of February 29, 2020 Housing Successor Agency (Housing Authority) $3,755,047 Cash on Hand ($85,227) First Street Apartments Loan' ($24,766) First Street Apartments Project Costs ($1,069,947) Frances Xavier Residence Project Pre -Commitment Loan 2 ($250,000) Administrative Costs Allowance 3 ($2,325,107) Administrative Costs Allowance for Future Fiscal Years 4 ($0) Available Funds Inclusionary Housing Funds $7,357,220 Cash on Hand ($31,965) Santa Ana Arts Collective Project Costs' ($280,000) Down Payment Assistance Program 6 ($21,240) Interim Emergency Homeless Shelter Agreement ($3,170,547) Legacy Square Project Pre -Commitment Loan 8 ($231,494) Lacy Street Project Pre -Commitment Loan 9 ($57,635) Tiny Tim Plaza Project Costs 10 ($1,514,113) Westview House Project Pre -Commitment Loan " ($90,000) WISEPlace' Steps to Independence Program Agreement 12 ($284,630) Administrative Costs Allowance (CDA/PBA) $1,675,597 Available Funds HOME Program $5,208,089 Funds to Drawdown ($3,007,489) Crossroads at Washington Pre -Commitment Loan " ($2,003,705) Westview House Project Pre -Commitment Loan $196,895 Available Funds to Drawdown CDBG Program (Acquisition/Rehabilitation Projects Only) $721,567 Funds to Drawdown ($1,687,047) North Harbor Village Project Pre -Commitment Loan 14 $0 Available Funds to Drawdown NSP Program (Abandoned, Foreclosed or Vacant Properties Only) $1,352,054 Funds to Drawdown ($963,951) Crossroads at Washington Pre -Commitment Loan ($96,395) Crossroads at Washington Project Costs ($291,708) Transfer to CDBG in FY 20/21 $0 Available Funds to Drawdown Rental Rehabilitation Grant Program $387,276 Cash on Hand 15 ($386,523) Westview House Project Pre -Commitment Loan 11 $753 Available Funds $1,873,245 Total Available Funds 1 Approved by Housing Autdortty on January 16,2013.96%of loan paid on Mamh13,201810%remaining to be paid upon completion of construction. Approved by Housing Autdortty on January 15,2019. The Housing Successor Agency relies on avdoabie cash to fund the monitoring and compliance functions related to the former Rededelopment Agencys housing loans Funds to beset aside for compliance and monitoring requirements due to uncertainty ofNtrlre repayment redounds. Protect costs only;$43M In l Cans approved by City Council paid on July'26 2017. ° dead CCC originally approved by City Council on March 6, 2018 Three loans paid through end of October '2➢19. Approved by CRy CCund on September 13, 2018 Agmementwhd MCTyHouse LMgq Centers, Inc for spruces through December2619. a Approved by City Counc�Mousing Autdontty on January 15,2019. Approved by CRy Cound oJousing Autdontty on March 5, 2019. 10 Probst costs only $6 OM In loans approved by City Council/Housing Authority and paid on May 2,2019. Approved by City Council on April 7,2020 12 Approved by City Council on April 7,2020 19C-10 W:c11:111INA AVAILABLE LAND ASSETS FOR AFFORDABLE HOUSING DEVELOPMENT (1) 302 E. Twenty -Second Street a. APN:003-122-25 b. Lot Size: 27,817sf c. Current Zoning: R1 Single -Family Residence, which allows one house per lot. d. Parcel was acquired 10/30/2002 using Low and Moderate Income Housing Asset Fund - 20% Set Aside. e. Previous Use: Purchased from Cal Trans. It was a remnant parcel from the freeway widening project. The site was vacant and undeveloped at the time it was acquired. f. General Plan: Low Density Residential, which allows single-family residences and ancillary uses. g. Maximum du/ac: Seven units per acre. h. Site Condition / Environmental Conditions: Property is irregular in shape, is below the minimum lot size for a residential lot, and will most likely require the approval of several variances from the zoning code in order to facilitate a residential unit. 19C-11 ON0011:3k963 Current Affordable Housing Development Project Timelines Project Recently Completed First Street Apartments - 1440 E. First St Oct-15 Developer Submitted Request for Funds to CDA Apr-16 Planning Entitlements Approved Jun-17 Awarded Successor Agency Funds Jun-17 Relocation Plan Approved Sep-17 9% Low -Income Housing Tax Credits Awarded Jan-18 Final Housing Authority Loan Approved Mar-18 Close of Escrow Mar-18 Construction Initiated Sept-19 Construction Completion Oct-19 Occupancy Projects Under Construction Santa Ana Arts Collective - 1666 N. Main St Jun-15 RFP Issued Nov-15 Approved HOME/CDBG Funds Mar-16 Submitted Application for AHSC (Cap & Trade Funds) Sep-16 Awarded AHSC (Cap & Trade) Funds Nov-16 9% Low -Income Housing Tax Credits Awarded Dec-16 Relocation Plan Approved Jul-17 Final Loan Approved/ Close of Escrow Jul-17 Planning Entitlements Approved Jul-17 Building Permits Pulled/Construction Initiated Mar-20 Anticipated Construction Completion Santa Ana Veterans Village - 3312 W. First St Dec-16 RFP Issued for PBVs Apr-17 Approved HUD VASH PBVs Jun-17 Awarded HOME CHDO Funds Jun-17 Planning Entitlements Approved Jan-18 Awarded County Special Needs Housing Funds Feb-18 Submittal of 9% Low -Income Housing Tax Credit Application Jun-18 Award of 9% Low -Income Housing Tax Credits Dec-18 Close of Escrow Feb-19 Construction Initiated Mar-20 Anticipated Construction Completion Page 1 of 5 19C-12 ON0011:3111963 Aqua Housing - 317 E. 17th St Dec-16 RFP Issued for PBVs Apr-17 Approved PBVs Jun-17 Planning Entitlements Approved Jun-17 Approved Additional PBVs Jan-18 Awarded County Special Needs Housing Funds Jan-18 Submitted Application for HCD Infill Infrastructure Funds Jun-18 Award of HCD Infill Infrastructure Funds Aug-18 Submittal of 4% Low -Income Housing Tax Credit Application Oct-18 Allocation of 4% Low -Income Housing Tax Credits Apr-19 Close of Escrow June-19 Construction Initiated Tiny Tim Plaza - 2223 W. Sth St Dec-16 Developer Submitted Request for Funds to CDA Jun-17 Awarded City and Housing Successor Agency Funds Jan-18 Planning Entitlements Approved Jul-18 Submittal of 9% Low -Income Housing Tax Credit Application Oct-18 Award of 9% Low -Income Housing Tax Credits May-19 Anticipated Close of Escrow June-19 Construction Initiated Projects in Pre -Development The Crossroads at Washington - 1126 and 1146 E. Washington Ave. Aug-19 Submitted PSH Application to County Oct-19 Submitted for Planning Entitlements Oct-19 Community Meeting Nov-19 Approval of Joint Powers Agreement, Option to Ground Lease, Voucher Resolution and Cooperation Agreement, and Regional Housing Needs Assessment (RHNA) Agreement, and Density Bonus Dec-19 NEPA EA City Approval —City of Santa Ana Submits NEPA EA to HUD Feb-20 PSH Funds and Voucher Approval from County Board of Supervisors Feb-20 Planning Entitlements Approved Mar-20 TCAC9%Application —1"Round 2020 May-20 Assuming a 1' Round 2020 TCAC 9% Award Allocation, start Design Development Drawings Jun-20 TCAC 9% Award Allocation Jul-20 Submit for 1" Plan Check Dec-20 I City Issues Permit Ready Letter Dec-20 Construction Loan Closing Dec-20 Start of Construction Page 2 of 5 19C-13 O:/:ILyk9c3 Feb-22 Construction Complete Jul-22 Full Occupancy Mar-19 North Harbor Village - 1108 N. Harbor Start of Design Development Mar-19 Applied to FHLBSF for AHP Financing ($890,000) Mar-19 Award of VASH Vouchers & City Loan by City Council (89 Vouchers and $1,687,047) Mar-19 Start Environmental Approval Process with City of Santa Ana (CEQA/NEPA) Mar-19 Applied for Home Depot Grant ($500,000) Jun-19 CEQA/NEPAApproval— Cityof Santa Ana Jun-19 AHP Award Date ($890,000) Aug-20 Applied to HCD for MHP Funding ($13,316,412) Dec-19 Notified Project Did Not Receive MHP Funding Jan-20 Home Depot Grant Award Date Feb-20 First Submittal for Architectural Review Feb-20 Apply to HCD for VHHP Funding ($7,943,883) Feb-20 Apply for OCHTF Financing (If Necessary) Mar-20 Reapply for MHP —2"d Round (If Necessary) Apr-20 Arch. Review Comments Received from City May-20 I Receive Ministerial Approvals for Design May-20 Receive AHAP Contract Jul-20 Apply for TCAC 9% Sep-20 TCAC Allocation Oct-20 Start Construction Documents for Rehab Oct-20 Submit First Plan Check Dec-20 Receipt of First Plan Check Comments Dec-20 Submit Second Plan Check Jan-21 Receipt of Second Plan Check Comments Jan-21 Submit Third Plan Check Feb-21 Receipt of Permit Ready Mar-21 Construction Loan Closing Mar-21 Start of Construction Jan-22 Construction Complete Jan-22 Start of Lease Up May-22 Full Occupancy Page 3 of 5 19C-14 O:/:ILyk9c3 FX Residences - 801, 809, 809 1/2 E. Santa Ana Boulevard Jan-19 Council Approval for Land Lease and Project Funding Jan-19 Submittal of Application for NPLH Funding Feb-19 Confirm with City Staff That Project Site Can Yield Additional Units Under Existing Zoning Mar-19 Revise Conceptual Drawings for additional 5 units (17 total units, up from the original 12 units) Mar-19 SNHP Funding Application Submitted to County Apr-19 City Staff to Review Revised Conceptual Design Apr-19 Begin Development Agreement May-19 Board of Supervisors Meeting for SNHP Funding Jul-19 Execute Development Agreement Jul-19 Formal Awards Letters for NPLH Funding To Be Issued Aug-19 Initial Planning Submittal Sept-19 Sunshine Ordinance Meeting May-20 Planning Commission Meeting (ministerial approval of density bonus) July-20 City Council Meeting (ministerial approval of density bonus) Aug-20 Begin Construction Docs Dec-20 Approval of Grading Plans Dec-20 Begin Construction (Grading, Weather Permitting) Feb -22 Completion of Construction Habitat for Humanity - 416 Vance Street & 826 N. Lacy Street May-20 DDA signed June-20 Prepare Grading Plans July -20 Submit Grading/Improvements Jan-20 Prepare Architectural Plans June-20 Submit Architectural Plans Oct-20 Grading Permit Issued Nov-20 Commence Grading Dec-20 Building Permits Issued Jan-21 Begin Construction Dec-21 Anticipated Construction Completion Jan-22 Certificate of Occupancy/Closings Page 4 of 5 19C-15 O:/:ILyk9c3 Legacy Square - 609 North Spurgeon Street Aug-18 Santa Ana CDA Funding Application Dec-18 Applied for NPLH and SNHP Funds Jan-19 Santa Ana Funding Award Feb-19 Planning Entitlements Approved Feb-19 Applied for Round 4 AHSC Funding May-19 Award of SNHP Funds July-19 Applied for Round 1 MHP Nov-19 Applied for State 4% tax credits Jan-20 Construction Drawings (8-12 weeks) Feb-20 Apply for Round 5 AHSC Funding May-20 Apply for 4%Tax Credits May-20 Plan Check (12-16 weeks) Jun-20 Award of AHSC Funds July-20 Award of 4%Tax credits July-20 Award of Tax -Exempt Bonds May-20 Plan Check (12-16 weeks) Sep-20 Building Permit Issuance Dec-20 Construction Closing/Syndication Jan-21 Begin Construction (18 months) Jun-22 Construction Complete Aug-22 100% Fully Leased (2 months) Page 5 of 5 19C-16