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HomeMy WebLinkAbout19C - RECIEVE AND FILE QRTLY REPORTREQUEST FOR COUNCIL ACTION CITY COUNCIL MEETING DATE: OCTOBER 6, 2020 CLERK OF COUNCIL USE ONLY: TITLE: APPROVED ❑ As Recommended RECEIVE AND FILE QUARTERLY REPORT ElAmended ❑ OOrrdinance on 1 s' Reading FOR HOUSING DIVISION PROJECTS AND ❑ Ordinance on 2od Reading ACTIVITIES APRIL 2020 — JUNE 2020 ❑ 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 April 2020 - June 2020. COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION ACTION All Community Redevelopment and Housing Commission meetings from April to June 2020 were canceled due to the COVID-19 local emergency. DISCUSSION This report for the quarter ending June 30, 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 received and applications sent out, received, and approved, by type, for the quarter and for the total fiscal year. 19C-1 Quarterly Report for Housing Division October 6, 2020 Page 2 Table 1: Applications Sent Out, Received & Approved Inquiries Applications Applications Applications Program Sent Out Received Approved Q4 Total FY Q4 Total FY Q4 otl Total Q4 Total FY FY Single -Family g 37 9 34 2 9 0 4 Rehabilitation Mobile Home 3 15 3 5 2 7 0 2 Rehabilitation Multi -Family 0 1 0 0 0 0 0 0 Rehabilitation Historic Home 0 1 0 0 0 0 0 0 Restoration Homeownership/ DPAP 8 211 8 173 4 17 1 7 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 were put on hold during most of the fourth quarter. 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, one (1) mobile home rehabilitation loan was funded. 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 rehabilitations of single-family homes or mobile homes were completed. Down Payment Assistance Loan Program (DPAP) Progress In 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 two (2) down payment assistance virtual workshops via Zoom. Two (2) down payment assistance loans closed escrow. One (1) was approved in March and closed in April and the second loan was approved and closed in June. 19C-2 Quarterly Report for Housing Division October 6, 2020 Page 3 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. As of the end of the fourth quarter, the principal balance was $136,890,052. This is comprised of 371 loans, of which 347 are deferred or residual receipt payment loans. As shown in Table 2, the loan portfolio generated $178,271 in payments of principal and interest during the second quarter. The amount of residual receipts payments changes every quarter. Table 2: Portfolio Revenue Funding Source HOME CDBG Rede netlopme NSP CalHOME Loan Payoffs $73,393 $0 $0 $10,419 $67,890 Residual Receipts $0 $0 $0 $0 $0 Payments Amortized Loan Payments $2,906 $6,989 $16,674 $0 $0 Total For Q3 $76,299 $6,989 $16,674 $10,419 $67,890 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, 37 owner -occupancy recertification letters were mailed and 36 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 COVI D-19. The U.S. Department of Housing and Urban Development (HUD) has temporarily waived the requirement for ongoing periodic inspections of HOME -assisted rental housing through December 31, 2020. 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 (Exhibit 1) to promote and facilitate the development of affordable housing as well as land assets (Exhibit 2) held by the Housing Authority. 19C-3 Quarterly Report for Housing Division October 6, 2020 Page 4 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. In -lieu fees generated have been used to develop new affordable housing opportunities, provide emergency shelter, and create homeownership opportunities. Below is a summary of how in -lieu fees have been used by the City: Project Inclusionary Housing # of Units Address Funds Spent Santa Ana Arts Collective $ 4,775,000.00 57 1666 N. Main Street La Placita Cinco $ 1,300,000.00 50 2239 West 5th Street The Link Interim Emergency $ 3,152,940.00 N/A 2320 S Redhill Shelter Avenue TOTAL $ 9,227,940.00 107 19C-4 Quarterly Report for Housing Division October 6, 2020 Page 5 Project Inclusionary Housing # of Units Address Funds Committed Legacy Square $ 3,170,547.00 92 609 North Spurgeon Street Habitat for Humanity "Lacy & $ 231,494.00 2 416 Vance Street & Vance" 826 N. Lacy Street Westview House $ 1,514,113.00 84 2530 and 2534 Westminster Avenue WISE Place Steps to Independence Public Service $ 90,000.00 N/A N/A Program Down Payment Assistance $ 280,000.00 N/A N/A TOTAL $ 5,286,154.00 178 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, 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. These funds consist 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). City Council authorized and approved the preliminary award of funds on April 7, 2020. Affordable Housing Development Projects There are three (3) affordable housing developments under construction and six (6) affordable housing projects in pre -development. An existing affordable housing development (Cornerstone Apartments) is also being rehabilitated. Below are brief summaries for a recently completed project, nine (9) projects under construction or in pre -development and the project under rehabilitation. Additionally, a development timeline for the larger development projects exists (Exhibit 3). Projects Completed Santa Ana Arts Collective (1666 N. Main Street) Developer Meta Housing Corporation Acquisition, adaptive reuse, and new construction project composed 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. 19C-5 Quarterly Report for Housing Division October 6, 2020 Page 6 Inclusionary Housing ($4,775,000), HOME Investment Partnership City Funds Program (HOME) ($2,627,631), Community Development Block Grant CDBG $500,000 The project received its certificate of occupancy on June 24, 2020. As of Update June 30, 2020 there are 16 units occupied and the building is anticipated to be fully leased by the end of September 2020. Projects under Construction Heroes Landing - formerly Santa Ana Veterans Village (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 Update Construction is complete and the project is fully leased. Aqua Housing (317 E. 17t" 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 66% complete with completion targeted by end of December 2020. Framing is complete and roofs have been installed. The rear residential building (segment C) is nearing Update completion. Steel work is in process for the connection bridges and rough plumbing, electrical, air, drywall are going in on Segments A & B . Safety measures are in place at the job site with PPE and social distancing being enforced for all workers. 19C-6 Quarterly Report for Housing Division October 6, 2020 Page 7 La Placita Cinco — formerly 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, at 65% complete. The retail renovations are also under construction. Marketing and lease -up have Update begun, with the City's approval of Santa Ana preference notations. A new name has been selected: La Placita Cinco, in consultation with the Artesia Pilar Neighborhood Association. The project anticipates completion and occu ancy at the end of 2020. Projects in Pre -Development Crossroads at Washin ton (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 Description consisting of 85 units of rental housing and 1 manager's unit. All units will be affordable to households earning less than 30 /o 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 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 JPA. The documents were approved by City Council on February 18, 2020. The Option Agreement was executed shortly afterwards. Following these approvals, the developer submitted a 9% Tax Credit application for the Update TCAC 9% Application 1 st Round on March 9 but did not receive an award. Developer submitted an FCAA 9% Tax Credit application in July 2020 (Round 2). Funding awards for Round 2 will be announced at the September 30, 2020 CTCAC Committee Meeting. The Project is pursuing additional environmental assessments based on the conditions of the sites (City and County parcels) identified in the Phase I Environmental Site Assessment and the Phase II Environmental Site Assessment. Additional assessment is required to determine the extent of contamination and scope of future remediation activities. 19C-7 Quarterly Report for Housing Division October 6, 2020 Page 8 FX Residences (801, 809, 809 % East Santa Ana Boulevard) Developer HomeAid Orange County, Inc. with Mercy House as the service provider New construction of an affordable multi -family apartment complex Description consisting of 16 units of permanent supportive housing, and 1 manager's unit. Housing Successor Agency ($1,069,947), three (3) HUD-VASH PBVs, 99- City Funds year ground lease agreement for 801 E. Santa Ana Blvd. (Appraised Value as of Oct 25, 2018: $788,000 The developer and Public Works staff are working to resolve design issues prior to resubmittal of the package. HomeAid Orange County is in ongoing Update 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. In May 2020, HomeAid Orange County was awarded $1.1 M from 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 plans and preparing for submittal. They are also working with SCE to Update 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. The Project and City are working completion of the Ground Lease Agreement and Inclusionary Grant Documents. Leqacv Square (609 North Spurqeon Street) Developer National Community Renaissance with Mercy House as the service provider New construction of a 100% affordable multifamily apartment complex Description p consisting of 92 units of rental housing and 1 manager's unit. All units will be affordable to households earning less than 60% 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 19C-8 Quarterly Report for Housing Division October 6, 2020 Page 9 The developer was awarded $25,431,865 in Affordable Housing and Sustainable Communities (AHSC) funding in June. The developer applied Update for 4% tax credits and tax exempt bonds in June. 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. North Harbor Villaae (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 financing strategy. This award was highly competitive and the developer did not receive MHP financing. Additionally, the developer applied on March 25, 2020 to the Orange County Housing Finance Trust fund for additional Update financing. On May 13, 2020, the developer received financing commitment for $2,292,920 from OCHFT. On June 10, 2020, the developer received a financing commitment for $10,000,000 from VHHP. On June 11, 2020, the developer applied for tax exempt bond financing through CDLAC totaling $24,000,000. This tax exempt bond financing will be used for the construction loan. On July 1, 2020, the developer applied for 4% competitive state and federal tax credits. Awards for these financing sources should be announced in July and September respectively. If awarded tax credits, construction would then likely begin early to late Q1 2021. Westview House (2530 Westminster Avenue) Developer Community Development Partners New construction of an affordable multifamily apartment development Description consisting of 85 units of both large family and permanent supportive housing with 1 manager's unit. Twenty-six of the units will be funded by MHSA funds and the NPLH program. City Funds Inclusionary Housing ($1,514,113), HOME Investment Partnerships Program $2,003,705 and Rental Rehabilitation Program $386,523 19C-9 Quarterly Report for Housing Division October 6, 2020 Page 10 The developer applied for the OC 2020 Supportive Housing NOFA on May 27th for both PBVs and MHSA funds and are awaiting a final response from Update the County of Orange. The developer submitted for project entitlements to the City of Santa Ana on June 16, 2020 and has a Sunshine Ordinance meeting scheduled for July 20, 2020. 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 senior loan. Construction work started in October 2019 and is currently 59 percent complete. Exterior work is continuing as planned. Due to the Update circumstances of COVID19 and the shelter in place order, interior work construction was temporarily halted in March. Jamboree Housing resumed interior work on June 29, 2020. Assuming there are no further delays, Jamboree Housing anticipates construction completion by the end of October 2020. The project will then transition into stabilization and the permanent loan conversion. The project anticipates converting to the permanent loan by February 1, 2021. FISCAL IMPACT There is no fiscal impact associated with this action. Submitted By: Steven A. Mendoza, Executive Director - Community Development Agency Exhibits: 1. Available Funds for Affordable Housing Development Projects 2. Available Land Assets for Affordable Housing Development 3. Project Timelines 19C-10 Exhibit 1 Available Funds for Affordable Housing Development Projects As of May 31, 2020 Housing Successor Agency (Housing Authority) $3,677,038 Cash on Hand ($24,306) First Street Apartments Project Costs ($1,069,947) Frances Xavier Residence Project Pre -Commitment Loan 1 ($250,000) Administrative Costs Allowance 2 ($2,332,784) Administrative Costs Allowance for Future Fiscal Years' $0 Available Funds Inclusionary Housing Funds $7,266,508 Cash on Hand ($28,239) Santa Ana Arts Collective Project Costs 4 ($250,000) Down Payment Assistance Program' ($3,170,547) Legacy Square Project Pre -Commitment Loan ($231,494) Lacy Street Project Pre -Commitment Loan ($56,914) Tiny Tim Plaza Project Costs 8 ($1,514,113) Westview House Pre -Commitment Loan 9 ($90,000) WISEPlace Steps to Independence Program Agreement 10 ($175,844) Administrative Costs Allowance (CDA/PBA) $1,749,357 Available Funds HOME Program $5,294,652 Funds to Drawdown ($3,007,489) Crossroads at Washington Pre -Commitment Loan 11 ($2,003,705) Westview House Pre -Commitment Loan 9 $283,458 Available Funds to Drawdown CDBG Program (Acquisition/Rehabilitation Projects Only) $619,587 Funds to Drawdown ($1,687,047) North Harbor Village Project Pre -Commitment Loan 12 $0 Available Funds to Drawdown NSP Program (Abandoned, Foreclosed or Vacant Properties Only) $1,338,021 Funds to Drawdown ($963,951) Crossroads at Washington Pre -Commitment Loan n ($96,395) Crossroads at Washington Project Costs ($277,675) Transfer to CDBG in FY 20/21 $0 Available Funds to Drawdown Rental Rehabilitation Grant Program $389,685 Cash on Hand 13 ($386,523) Westview House Pre -Commitment Loan 9 $3,162 Available Funds $2,035,977 Total Available Funds Approved by Housing Authority on January 15, 2019. x The Housing Successor Agency relies on available casbtofundthe monitoring and compliance functions related to the former Redevelopment Agency's housing loans. x Funds to be set aside for compliance and monitoring requirementstlueto uncertainty of future repayment revenues. Pro ect costs only; $4 Mid In loans appmvetl by Clty Council paid on J my 26, 2017. $400000 onginallyappmvetl by Clty Council on Mach 6, 2018. Fourloans paidthrough end of May2020. a Approved by City Council/Housing Aulhohtyon January 15, 2019. r Approved by City Council/Housing Aulhohtyon March 5, 2019. a Project costs only;$60M In loans appmvetl by City Council/Housing Autllotlty and paid on May 2,2019. a Approved by City Council on April T, 2020. r0 Appmvetl by City Council on Apnl 7,2020. 11 Appmvetl by City Council on July 2,2019. rx Appmvetl by City Council/Housing Authobty on March. 5, 2019. " Old program income available after close out of program with HUD. 19C-11 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-12 1WNIM11:311111111c] Current Affordable Housing Development Project Timelines Projects Completed Santa Ana Arts Collective — 1666 N. Main St Jun 15 RFP Issued Nov 15 Approved HOME / CDGB Funds Mar 16 Submitted application for AHSC (Cap & Trade Funds) Sept 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 intitiated Jun 20 Construction completion Projects Under Construction Heroes Landing — 3312 W First St Dec 16 RFP issued for PBVs Apr 17 Approved HUD VASH PBVs Jun 17 Awarded HOM 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 Construction completion Aqua Housing — 317 E. 17t" Street 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 Page 1 of 5 19C-13 1*0111:31111101 Oct 18 Allocation of 4% Low -Income Housing Tax Credits Apr 19 Close of escrow Jun 19 Construction initiated Dec 20 Anticipated construction completion La Placita Cinco — 2223 W. 5th Street 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 Jun 19 Construction initiated Oct 20 Anticipated construction completion Projects in Pre -Development The Crossroads at Washington — 1126 and 1146 E. Washington Avenue 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 TCAC 9% Application — 1st Round 2020 May 20 Assuming a 1st Round 2020 TCAC 9% Award Allocation, start design development drawings Jun 20 TCAC 9% award allocation Jul 20 Submit for 1 st plan check Dec 20 City issues permit ready letter Dec 20 Construction loan closing Dec 20 Start of construction Feb 22 Construction complete Jul 22 Full occupancy Page 2 of 5 19C-14 IWOMM11:31111101 North Harbor Village — 1108 N. Harbor Mar 19 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 / NEPA Approval — City of Santa Ana Jun 19 AHP Award Date ($890,000) Aug 20 Applied to HCD for MHP 1st Round Funding ($13,316,412) Dec 19 Notified project did not receive 1st Round MHP funding Feb 20 Applied to HCD for VHHP Funding ($10,000,000) Mar 20 Applied to HCD for MHP 2nd round funding Mar 20 Applied to OCHFT Financing ($2,292,920) May 20 Notified project did not receive 2st Round MHP funding May 20 Received OCHFT funding award ($2,292,920) Jun 20 Received VHHP funding award ($10,000,000) Jun 20 Submitted Plans for Ministerial Design Approval Jun 20 Applied for CDLAC tax exempt bond allocation ($24,000,000) Jul 20 Applied for TCAC 4% competitive state and federal tax credits ($9,896,911) Jul 20 CDLAC Allocation Sep 20 Ministerial Design Approval 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 FX Residences — 801, 809, 809'/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 Page 3 of 5 19C-15 1*0111:31111101 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 Nov 20 Planning Commission Meeting (ministerial approval of density bonus) Dec 20 City Council Meeting (ministerial approval of density bonus) Jan 21 Begin construction docs Feb 21 Approval of grading plans Mar 21 Begin construction (grading, weather permitting Mar 22 Completion of construction Habitat for Humanity — 416 Vance Street & 826 N. Lacy Street May 20 DDA signed June 20 Prepare grading plans Aug 20 Submit grading/improvements Jan 20 Prepare architectural plans Sept 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 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 Jul 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 Page 4 of 5 19C-16 IWOMM11:31111101 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) Sept 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) Westview House — 2530 Westminster Avenue Oct 19 City of Santa Ana RFP submittal Nov 19 Apply for Project Based Vouchers Nov 19 City of Santa Ana Award Dec 19 Construction/permanent debt commitments Jan 20 No Place Like Home application Jun 20 No Place Like Home commitment Jul 20 CDLAC/TCAC 4% application Dec 20 CDLAC/TCAC 4% award May 21 Construction permits issued May 21 Construction start Sept 22 Construction complete Dec 22 Lease -Up complete Page 5 of 5 19C-17