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HomeMy WebLinkAboutItem 09 - Housing Division Quarterly Report Community Development Agency santa-ana.org/community-development Item # 9 City of Santa Ana 20 Civic Center Plaza, Santa Ana, CA 92701 Staff Report August 1, 2023 TOPIC: Housing Division Quarterly Report AGENDA TITLE Quarterly Report for Housing Division Projects and Activities for the period of April 1, 2023 to June 30, 2023 RECOMMENDED ACTION Receive and file the Quarterly Report for Housing Division Projects and Activities for the period of April 1, 2023 to June 30, 2023 DISCUSSION This report for the quarter ending on June 30, 2023 provides information for all of the affordable housing projects and activities for the City’s Housing Division. The report is divided into seven (7) sections: Loan Activity, Loan Portfolio Management and Monitoring, Density Bonus Housing Agreements, Development Impact Fee Deferral Agreements, Rent Stabilization Program, Affordable Housing Opportunity and Creation Ordinance, and Development Projects. Loan Activity Applications The Housing Division offers several different programs including down payment assistance for first-time homebuyers and rehabilitation grants for mobile homes and single-family 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 and Approved Inquiries Applications Sent Out Applications Received Applications ApprovedProgram Q4 Total FY Q4 Total FY Q4 Total FY Q4 Total FY Residential Rehabilitation Grant Program 0 80 0 50 0 25 0 15 Down Payment Assistance Program 18 141 10 133 8 25 5 16 Loan Subordinations 0 0 0 0 0 0 0 0 Housing Division Quarterly Report August 1, 2023 Page 2 3 6 2 4 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. The City of Santa Ana’s Residential Rehabilitation Grant Program is designed to improve and preserve affordable housing through the use of federal Community Development Block Grant (CDBG) funds. The Program is administered by Habitat for Humanity of Orange County on behalf of the City. The Program provides grants of up to $25,000 for eligible home repairs for low-income homeowners at or below 80% of the Area Median Income (AMI) as defined by the U.S. Department of Housing and Urban Development (HUD). Eligible activities include the repair, replacement, and/or installation of major systems including plumbing, heating, electrical, windows, roof, paint, and handicap accessibility. There were no inquiries or applications sent and/or received for the grant program during this quarter. Seven (7) rehabilitation projects were completed during this Fiscal Year. The Fiscal Year 2023-24 funding for this program was renewed by City Council on May 2, 2023 and applications are currently being accepted. Down Payment Assistance Loan Program Progress For the Down Payment Assistance Loan Program (DPAP), staff evaluates applicant eligibility and oversees underwriting to ensure compliance with program guidelines and requirements established by HUD. During this quarter, staff conducted the following outreach and education on the program: •Staff conducted two (2) virtual workshops via Zoom together with NeighborWorks of Orange County with a total of 48 attendees. These workshops are conducted every second Tuesday of the month. •Staff participated in one First Time Homebuyer Workshop sponsored by Councilmember Phan. In total, four (4) professionals and eight (8) residents attended the workshop to get information on how to qualify for the City’s Down Payment Assistance Loan Program. •On June 10, staff participated in a First-Time Homebuyer Fair hosted by Orange County Community Housing Corporation at Santa Ana College. The event included other homebuying professionals and lenders that provided booths and informational lectures. Staff provided program materials and spoke about the program to all attendees. The event welcomed around 150 people. •On June 28, staff provided a Spanish language Down Payment Assistance and Affordable Housing Workshop at Latino Health Access. This workshop was attended by 14 residents. As a result of these efforts, five (5) down payment assistance loan applications were approved and five (5) closed escrow. Housing Division Quarterly Report August 1, 2023 Page 3 3 6 2 4 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 $149,153,321. This portfolio is comprised of 341 loans of which 319 are deferred or residual receipt payment loans. As shown in Table 2, the loan portfolio generated $464,827.98 in payments of principal and interest during the fourth quarter. The amount of residual receipts payments changes every quarter. Table 2: Portfolio Revenue HOME CDBG Redevelopment NSP Loan Payoffs $0 $0 $30,000.00 $0 Residual Receipts Payments $98,134.72 $0 $206,463.18 $96,892.26 Amortized Loan Payments $8,013.80 $3,402.13 $21,921.89 $0 Total for Q4 $106,148.52 $3,402.13 $258,385.07 $96,892.26 Monitoring As part of the requirements for these loans, 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, 38 owner- occupancy recertification letters were mailed and 24 were returned and processed. This number includes letters sent from previous months. Staff also conducted a total of 414 inspections during this quarter. Density Bonus Agreements The California Density Bonus law allows developers proposing five (5) or more residential units to seek increases in base density for providing on-site housing units in exchange for providing affordable units on site. To help make constructing on-site affordable units feasible, the law allows developers to seek up to three (3) incentives/concessions and an unlimited number of waivers, which are variances from development standards that would help the project be built without significant burden and without detriment to public health. The first version of the Density Bonus Law was adopted in 1979 and has since been amended at various times. Recent revisions allow affordable housing developers to request incentives/concessions and/or waivers for 100-percent affordable developments, even if they do not require a numerical density bonus. Moreover, in early 2017, the law was amended to restrict the ability of local jurisdictions to require studies to “justify” the density bonus and requested incentives/waivers and places the responsibility on local jurisdictions to prove that the incentives/concessions or waivers are not financially warranted. As of the date of this report, the City of Santa Ana has entered into the following Density Bonus Agreements: Housing Division Quarterly Report August 1, 2023 Page 4 3 6 2 4 Date of Agreement Housing Development Address Affordable Units October 2018 Metro East Senior Park 2222 E. First St. 415 rental units restricted for very low income and low income or senior tenants August 2018 First Point I & II Apartments 2110, 2114 and 2020 E. First St. 547 rental units restricted for very low income and low income tenants February 2019 Legacy Square 609 North Spurgeon St. 92 rental units restricted for very low income and low income tenants November 2019 The Rafferty 114 & 117 E. Fifth St. 11 rental units restricted for very low income tenants December 2021 FX Residences 801, 807, 809 and 809 ½ East Santa Ana Blvd 16 permanent supportive housing units June 2022 WISEPlace 1411 N. Broadway 47 permanent supportive housing units August 2022 Brandywine Acquisition Group 1814 & 1818 E. First St. 4 townhomes restricted for sale to moderate-income buyers Development Impact Fee Deferral Agreements Development impact fees are a one-time charge to new developments imposed under the Mitigation Fee Act. These fees are charged to new developments to mitigate impacts resulting from the development activity and cannot be used to fund existing deficiencies. This means that for improvements that benefit existing as well as new development, impact fees can only pay for the portion of the improvement that benefits the new uses. Impact fees must be adopted based on findings of a reasonable relationship between the development paying the fee, the size of the fee, and the use of fee revenues. Development impact fees do not require voter approval and are commonly used by cities to address the impact of new development on schools, parks, transportation, etc. Prior to issuance of any building permits, the City currently requires the payment of various development impact fees. However, affordable housing developers may submit a request to defer specific development impact fees for their property pursuant to California Government Code section 66007. The City and owner then execute a Development Impact Fee Deferral Agreement to defer certain development impact fees applicable to the property and place a lien on the property to secure payment of these fees, which are due before the issuance of the certificate of occupancy or the final building check. As of the date of this report, the City has entered into the following outstanding Development Impact Fee Deferral Agreements that are pending payment: Date of Agreement Developer Housing Development Address Estimated Total Fees Due December 2021 Shelter Providers of Orange County 802, 809, 809 ½ East Santa Ana Blvd.$510,000 July 2022 Washington Santa Ana Housing Partners 1126 &1146 E. Washington Ave.$652,717 Housing Division Quarterly Report August 1, 2023 Page 5 3 6 2 4 Rent Stabilization Program Effective November 18, 2022, the City Council adopted an amended Rent Stabilization and Just Cause Eviction Ordinance (Ordinance) that included a number of changes. The amended Ordinance expands the administration and enforcement of renter protections for Santa Ana residents by establishing a rental housing board and a rental registry program. The amended Ordinance also includes additional petitions for tenants and landlords, voluntary mediation services, and other enhancements. The City has prepared user-friendly information on the Ordinance for both tenants and landlords on the City’s webpage, including the full Ordinance and answers to Frequently Asked Questions in English, Spanish, and Vietnamese. Tenants and landlords are encouraged to sign up to receive the latest updates. Program Updates: The City of Santa Ana continues to work with RSG, Inc. on the long-term implementation of the Ordinance. This project has met many critical milestones over the course of Quarter 4 (Q4). Staff, in partnership with Revenue and Cost Specialists (RCS), conducted a comprehensive fee study to determine appropriate program fees to recover all program costs associated with services provided under the Ordinance. The Rental Registry Fee was approved in the FY 2023-24 Miscellaneous Fee Schedule. Additionally, the City Council approved the City’s new Rent Stabilization Division in the City’s FY 2023-24 Annual Budget to administer the Ordinance. Staff, in partnership with 3Di, Inc., worked to implement a rental registry portal that supports the Ordinance. In Q4, staff worked with the consultant on a weekly basis to configure the portal where property owners will register rental units, update rental unit information, update tenancy information, submit notices, and pay the City’s rental registry fee. Staff also worked with the Finance and Management Services Agency to ensure the City will be able to collect, allocate, process, and utilize rental registry fees for the administration of the Ordinance. Staff conducted targeted outreach in partnership with Santa Ana Unified School District, neighborhood associations, non-profits who work with low-income residents, and at local laundromats in an effort to strengthen the way we engage with our community. In addition to the progress made towards the long-term implementation of the Rent Stabilization Program, staff has continued to serve the community in the following ways throughout Q4: •Reviewed and made continuous improvements to the layout, content, and forms on the Renter Protections webpage for easier access and understanding. •Published new information on the City’s webpage, including the Notice of Allowable Rent Increase, Fair Return Petition, Capital Improvement Petition, and Tenant Petition to ensure compliance with the City’s Ordinance. Housing Division Quarterly Report August 1, 2023 Page 6 3 6 2 4 •Created a new website for the City’s monthly Rent Stabilization Newsletter, increasing access to residents who need the newsletter translated into another language. •Fielded calls and emails from the public and provided information, referrals, and education to renters and property owners on the City’s Ordinance. •Collected notices from landlords to monitor for compliance with the Ordinance. Residents Served: During this quarter, staff and RSG fielded calls from the public and provided information and education to renters and property owners on the Ordinance. A breakdown of the number of inquiries is as follows: The City requires that when changing the terms of a tenancy, an owner must submit proof of service to the City as evidence that the owner has complied with noticing requirements. A breakdown of the number of notices received is as follows: Staff also conducted one (1) workshop in partnership with Latino Health Access: The City regularly distributes important updates and information to Santa Ana residents. During this quarter, staff informed the public of programmatic updates via social media, newsletters, and email distribution lists, reaching a total of 10,147 Santa Ana residents. 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 develop affordable housing. Exhibit 1 provides a summary of the funds available as of June 30, 2023. Month # of Inquiries April 2023 93 May 2023 101 June 2023 103 Total 297 Month # of Notices April 2023 29 May 2023 76 June 2023 48 Total 153 Month # of Registrants May 17, 2023 41 Total 41 Housing Division Quarterly Report August 1, 2023 Page 7 3 6 2 4 Affordable Housing Opportunity and Creation Ordinance On-Site Development: Since 2011, a total of 33 units have been developed on-site as a result of the Affordable Housing Opportunity and Creation 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 Ordinance, including interest, are deposited into the Inclusionary Housing Fund. Since inception, the Inclusionary Housing Fund has generated $28,443,446 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 Ordinance. Inclusionary Housing In-lieu Fees Received per Fiscal Year FYs 2009-2017 FY 17/18 FY 18/19 FY 19/20 FY 20/21 FY 21/22 FY 22/23 $7,851,002 $2,712,304 $7,236,945 $0 $3,709,875 $6,933,320 $0 In-lieu fees generated have been used to develop new affordable homeownership and rental housing opportunities as well as provide emergency shelter. Below is a summary of how in-lieu fees have been used by the City: Project Inclusionary Housing Funds SPENT # of Units Address Santa Ana Arts Collective $4,775,000 57 1666 N. Main Street La Placita Cinco $1,300,000 50 2239 West 5th Street The Link Interim Emergency Shelter $4,140,295 N/A 2320 S Redhill Avenue Westview House $1,514,113 84 2530 and 2534 Westminster Avenue Habitat for Humanity “Lacy & Vance”$565,271 2 826 N. Lacy Street & 830 N. Lacy Street WISEPlace Steps to Independence Public Service Program $90,000 N/A N/A TOTAL $12,384,679 193 Housing Division Quarterly Report August 1, 2023 Page 8 3 6 2 4 Project Inclusionary Housing Funds COMMITTED # of Units Address Habitat for Humanity “Washington Street”$2,200,000 6 1921 W. Washington Ave. Down Payment Assistance $1,250,000 N/A N/A TOTAL $3,450,000 6 Affordable Housing Development Projects There are six (6) affordable housing projects under construction and one (1) affordable housing project in pre-development. During this quarter, Legacy Square completed its construction and a final certificate of occupancy was issued. Below is a brief summary and status-update for each project. Exhibit 2 provides a development timeline for each project. The most recent RFP for Affordable Housing Development was issued on December 8, 2021 and closed on February 28, 2022. WISEPlace Permanent Supportive Housing and Habitat for Humanity of Orange County were awarded pre- commitment letters. Projects Completed during this Quarter Legacy Square (609 North Spurgeon Street) Developer National Community Renaissance with Mercy House as the service provider Description New construction of a 100% affordable multifamily apartment complex consisting of 92 units of rental housing and one (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. Authority Funds Eight (8) Project-Based Vouchers (PBVs) Update The final Certificate of Occupancy was issued on June 14, 2023. A Grand Opening Ceremony was held on June 21, 2023. The lease-up of units is continuing. Projects under Construction Estrella Springs (1108 N. Harbor) (Formerly called North Harbor Village) Developer Jamboree Housing Corporation Description Acquisition and rehabilitation of a former motel yielding 89 units of permanent supportive housing. City / Authority Funds CDBG ($1,687,047); Eight-nine (89) PBVs consisting of 34 HUD-VASH PBVs and 55 regular PBVs. Update During this quarter, the project name was officially changed to Estrella Springs. Construction is currently underway. Recent activities include insulation, drywall, and interior work in Building C. Changes in the MEP, structural, and building have triggered plan check revisions that have taken some time to complete. Plan resubmittals have also required Housing Division Quarterly Report August 1, 2023 Page 9 3 6 2 4 submittals to the Orange County Fire Authority (OCFA). The submittals are needed to complete the interior work. Most approvals for Bldg. C have been issued but approvals are pending for Bldg. B and Bldg. A. Once the interior work is approved, it will all be completed while elevator, exterior stucco, and paint start. The current schedule is subject to change pending approvals from the city on our plan revisions. Westview House (2530 Westminster Avenue) Developer Community Development Partners with Mercy House as the service provider Description New construction of an affordable multifamily apartment development consisting of 84 units of both large family and PSH units and one (1) manager’s unit. Twenty-six (26) of the units will be funded by Mainstream Program PBVs and Mental Health Services Act (MHSA) funds through the No Place Like Home (NPLH) program. City / Authority Funds Inclusionary Housing ($1,514,113), HOME Investment Partnerships Program ($2,003,705), Rental Rehabilitation Program ($386,523), and twenty-six (26) Mainstream Program PBVs Update The project has completed rough framing and roofing. Project is currently working on utility rough ins. Completion of the project is anticipated in February 2024. Crossroads at Washington (1126, 1136, and 1146 E. Washington Avenue) Developer The Related Companies of California with A Community of Friends as co- developer and lead service provider Description New construction of a 100% affordable multifamily apartment complex consisting of 85 units of rental housing and one (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. City / Authority Funds HOME Investment Partnerships Program ($3,007,489), Neighborhood Stabilization Program ($1,637,420), sixty-five (65) year ground lease agreement for 1126, 1136, and 1146 E. Washington Avenue (Appraised Value as of September 22, 2019: $4,108,136) and fifteen (15) PBVs Update The project is framed and roofed. The developer is working with the Corporation for Supportive Housing, Orange County staff, and the Santa Ana Housing Authority to begin the marketing. Habitat for Humanity (826 N. Lacy & 830 N. Lacy Street) Developer Habitat for Humanity of Orange County (Habitat) Description New construction of two single-family detached homes for homeownership serving households up to 120% AMI. City / Authority Funds Inclusionary Housing ($565,271) and a 99-year ground lease agreement for 416 Vance Street and 826 N. Lacy Street (Appraised Value as of Oct 25, 2018: $578,000) Update Significant interior work was completed during this quarter including the painting, door installation, and cabinetry work. On May 5, Habitat held the Leaders Build Challenge on-site. Event participants included sponsors and Housing Division Quarterly Report August 1, 2023 Page 10 3 6 2 4 volunteers. The event was attended by Mayor Farrah Khan of Irvine, Orange County Supervisor Vicente Sarmiento of the 2nd District, and Senator Tom Umberg. The initial outreach for homebuyers did not generate qualified buyers that met the City’s local preference. The outreach strategy was revamped and was more targeted. The City assisted in the outreach efforts by including in its communications to residents. During July, Habitat will review home buyer applications and will present to the City those buyers recommended for final selection. Volunteer opportunities continue to be offered Wednesday through Saturday throughout the duration of the build. During this quarter, there were 919 unique volunteers with a total of 8,430 volunteer hours. WISEPlace Permanent Supportive Housing (1411 N. Broadway) Developer Jamboree Housing Corporation with WISEPlace as the co-developer and lead service provider Description Adaptive reuse and new construction of the WISEPlace building to provide 47 permanent supportive housing units and one (1) manager’s unit. City / Authority Funds HOME-ARP ($5,256,327); Twenty-five (25) PBVs Update The developer closed on their construction loan financing and began construction in March 2023. The abatement and demolition of the project is complete. A groundbreaking ceremony was held on June 15, 2023. The expected construction completion date is November 2024. FX Residences (801, 809, 809 ½ 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 one (1) manager’s unit. Authority Funds Housing Successor Agency ($1,656,947), three (3) PBVs, 99-year ground lease agreement for 801 E. Santa Ana Blvd. (Appraised Value as of Oct 25, 2018: $788,000) Update HomeAid and its builder captain, City Ventures, met with the City’s Planning and Building Agency to clarify comments from the 3rd submittal. Subsequently, building permits were issued in May. A Groundbreaking Ceremony was held on June 12, 2023 and construction will begin in July. Completion of the project is estimated by the 1st quarter of 2024. Projects in Pre-Development Habitat for Humanity (1921 W. Washington Avenue) Developer Habitat for Humanity of Orange County (Habitat) Description New construction of three (3) duplexes / six (6) homes for homeownership serving households up to 80% AMI. City Funds Inclusionary Housing Funds ($2,200,000) Update In March, Habitat received comments on its initial application for review. Comments were reviewed and addressed. A second Sunshine Ordinance meeting was held on May 30, 2023 at the El Salvador Community Center. In addition to the Habitat team and staff from the City, over 15 individuals attended the meeting. Representatives from Habitat and the City presented Housing Division Quarterly Report August 1, 2023 Page 11 3 6 2 4 attendees with information on the project, provided an opportunity for questions, and addressed feedback from the first meeting and the application comments received. Attendees asked questions related to understanding income qualifications and the home buyer selection process. Habitat submitted its responses to comments received from the City and updated application documents on June 12, 2023. FISCAL IMPACT There is no fiscal impact associated with this action. EXHIBIT(S) 1. Available Funds for Affordable Housing Development Projects 2. Project Timelines Submitted By: Michael L. Garcia, Executive Director of Community Development Approved By: Kristine Ridge, City Manager Available Funds for Affordable Housing Development Projects As of June 30th, 2023 Housing Successor Agency (Housing Authority) $4,952,611 Cash on Hand ($1,656,947)Frances Xavier Residence Project Pre-Commitment Loan 1 ($250,000)Administrative Costs Allowance 2 ($2,725,395)Administrative Costs Allowance for Future Fiscal Years 3 ($307,386)Crossroads at Washington Option Agreement Amendment 4 ($12,883)Crossroads at Washington Environmental Assessment Oversight 5 $0 Available Funds Inclusionary Housing Funds $13,130,581 Cash on Hand ($530,000)Down Payment Assistance Program 6 ($56,527)Lacy Street Project Grant 7 ($151,411)Westview House Loan 8 ($37,500)Westview House Project Cost ($11,544)WISEPlace Steps to Independence Program Agreement 9 ($2,200,000)1921 W. Washington Project Pre-Commitment 13 ($2,298,515)Administrative Costs Allowance (CDA/PBA) $7,845,083 Available Funds HOME Program $6,695,823 Funds to Drawdown ($300,749)Crossroads at Washington Loan 10 ($200,371)Westview House Loan 8 $6,194,703 Available Funds to Drawdown HOME-American Rescue Plan Program (PSH Projects Only) $1,464,630 Funds to Drawdown ($1,464,630)WISEPlace PSH Loan 12 $0 Available Funds to Drawdown CDBG Program (Acquisition/Rehabilitation Projects Only) $4,690 Funds to Drawdown $4,690 Available Funds to Drawdown Rental Rehabilitation Grant Program $48,719 Cash on Hand 11 ($38,652)Westview House Loan 8 $10,067 Available Funds $14,054,543 Total Available Funds 1 Approved by Housing Authority on January 15, 2019. Additional $587,000 approved by Housing Authority on December 7, 2021. 2 The Housing Successor Agency relies on available cash to fund the monitoring and compliance functions related to the former Redevelopment Agency's housing loans. 3 Funds to be set aside for compliance and monitoring requirements due to uncertainty of future repayment revenues. 4 Approved by Housing Authority on December 15, 2020. Additional $150,000 maximum approved by Housing Authority on August 17, 2021 (2nd Amendment to Option Agreement). 5 Approved by Housing Authority on July 20, 2021. 6 $400,000 originally approved by City Council on March 6, 2018. Nine loans paid through end of September 2021. Additional $1,200,000 approved by Council on November 2, 2021. 7 Approved by City Council/Housing Authority on March 5, 2019. Additional $333,777 approved by City Council on April 6, 2020. 8 Approved by City Council on May 17, 2022. 9 Approved by City Council on April 7, 2020. 10 Approved by City Council on June 21, 2022. 11 Old program income available after close out of program with HUD. 12 Approved by City Council on March 7, 2023. 13 Approved by City Council on November 15, 2022. Exhibit 1 EXHIBIT 2 Page 1 Current Affordable Housing Development Project Timelines Projects Completed during this Quarter 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 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) Jan 21 Building permit issuance Feb 21 Construction closing/syndication Feb 21 Begin construction (24 months) Jul 21 Groundbreaking Ceremony Mar 22 Press Release announcing 5 Community Workshops for Lease Up information Apr 22 Framing complete May 22 Roofing to start July 22 Elevator Cab delivery Sept 22 Interior painting, and flooring &HVAC getting installed Oct 22 Production insulation and Building Inspection of the Community Room and Leasing Office Jan 23 Fire signed off on all floors, solar panels and roofing completed, all units in the finish stages. Landscape on podium complete. Apr 23 Construction complete Jun 23 Final Certificate of occupancy issued Jun 23 Grand opening ceremony Aug 23 100% fully leased (4 months) Projects under Construction Estrella Springs – 1108 N. Harbor (Formerly called North Harbor Village) Mar 19 Start of design development Mar 19 Applied to FHLBSF for AHP Financing ($890,000) EXHIBIT 2 Page 2 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) Sept 20 CDLAC Allocation Nov 20 Ministerial Design Approval (upon completion of community meeting on 11/4/2020) Oct 20 TCAC Allocation Oct 20 Start construction documents for rehab Nov 20 Submit first plan check Dec 20 Awarded Home Depot Grant Jan 21 Receipt of first plan check comments Jan 21 Submit second plan check Feb 21 Receipt of second plan check comments Feb 21 Submit third plan check Mar 21 Received permit ready Apr 21 Construction loan closing Apr 21 Pull Permits and start construction May 21 Site Demolition Dec 21 Work on mock up units begins Jun 22 Structural retrofitting and repairs July 22 Roofing and Framing Aug 22 Stock drywall & Inspections Aug 22 Gutter, Awning and Painting & installation of stairs Oct 22 OCHFT Loan finalized Apr 23 Interior refurbishments & finishes Apr 23 Complete Flooring Mar 23 Plan resubmittal/Plan Coordination Apr 23 Grading/Paving for parking lot and site work May 23 Roof/Drywall Jul 23 Interiors/Fixtures & Appliances/ Aug 23 Elevator Sep 23 Lease up EXHIBIT 2 Page 3 Oct 23 Stucco Oct 23 Scaffold finishes Nov 23 Final Cleaning Nov 23 Construction Completion Feb 24 Full Occupancy Westview House – 2530 Westminster Avenue Oct 19 City of Santa Ana RFP submittal May 20 OC 2020 Supportive Housing NOFA Submittal Dec 20 OC 2020 Supportive Housing NOFA award Jan 21 City of Santa Ana PBV Award Jan 21 Construction/permanent debt commitments Jan 21 Receive Entitlements Jan 21 No Place Like Home application Mar 21 OCHFT application May 21 OCHFT Award Jun 21 No Place Like Home commitment Sep 21 CDLAC/TCAC 4% application Dec 21 CDLAC/TCAC 4% award May 22 Close on construction financing Jun 22 Construction permits issued Jun 22 Construction start Nov 22 Groundbreaking Ceremony Dec 22 Grading activities completed and concrete poured Apr 23 Floor Sheathing & Pre-Rough complete in Buildings A & B Jun 23 Rough framing and roofing are complete Jun 23 Window installation in both buildings Jul 23 Working on utility rough-ins Jul 23 Roof Truss in Building B Jul 23 Drywall Production Feb 24 Construction complete July 24 All units Leased Nov 24 Perm Debt Conversion Crossroads at Washington – 1126,1136 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 Jul 20 TCAC FCAA/9% Application – 2nd Round 2020 Oct 20 TCAC FCAA/9% Award – 2nd Round 2020 EXHIBIT 2 Page 4 Mar 21 Submitted OCHFT PSH NOFA Application May 21 OCHFT PSH NOFA Award Dec 21 Submit DTSC Equitable Community Revitalization Grant (ECRG) Pre- Qualifying Application Feb 22 Submit for 1st plan check Mar 22 DTSC approves draft Removal Action Workplan; draft Removal Implementation Plan under review Apr 22 DTSC ECRG Full Application Jul 22 DTSC ECRG Award Jul 22 City issues permit ready letter Jul 22 Construction finance closing/Start construction Nov 22 Building foundation complete Dec 22 Framing began Mar 24 Construction complete Jul 24 Full occupancy Habitat for Humanity – 826 N. Lacy Street & 830 Lacy Street May 20 DDA signed June 20 Prepare grading plans Oct 20 Prepare architectural plans Oct 20 Submit Neighborhood Review Application Feb 21 Final Approval from Historic French Park Committee Apr 21 Submit Site Review Application Dec 21 Submit grading/ Non-Priority WQMP Jan 22 Submit architectural plans May 22 Planning Commission Approval Jul 22 Grading permit issued Aug 22 Groundbreaking Aug 22 Building Permits issued Aug 22 Commence Grading Sep 22 Begin Foundation Construction Oct 22 Framing Ceremony/Framing Construction Begins Jan 23 Roof diaphragm sheathing and exterior sheathing completed Jan 23 Roof sheathing/frame and shear walls Inspection Jan 23 Buildings dried in Jan 23 House wrap and waterproofing Jan 23 Drywall stack complete Jan 23 Exterior Door installation complete Jan 23 Homebuyer outreach and application open Feb 23 Window installation complete Feb 23 Rough in plumbing Feb 23 Rough in electrical Feb 23 Rough in mechanical Feb 23 Rough in fire sprinkler- OCFA Mar 23 MEP Inspection Mar 23 OCFA Inspection EXHIBIT 2 Page 5 Mar 23 Structural/framing complete Mar 23 Structural/framing Inspection Mar 23 Seal exterior penetrations Mar 23 Wood siding started Mar 23 Start exterior wood trim carpentry-ongoing Mar 23 Insulation completion and inspection Mar 23 Drywall hanging Mar 23 Preliminary homebuyer application review May 23 Habitat for Humanity Leaders Build on-site May 23 Re-launchHomebuyer outreach May 23 Interior paint completed Jun 23 Porch-flatwork, interior door installation and cabinetry installation Jul 23 Painting completion Jul 23 Homebuyer application review and selection Aug 23 Dedication Ceremony Aug 23 Anticipated Construction completion Aug 23 Certificate of Occupancy/Closing WISEPlace Permanent Supportive Housing – 1411 N. Broadway May 19 Start of conceptual design development Sept 19 Applied to City of Santa Ana for Financing Feb 20 Notified not awarded City of Santa Ana Financing Mar 20 Applied to Orange County Housing Finance Trust (OCHFT) Financing Apr 20 Met with City of Santa Ana Planning Staff on entitlements May 20 Notified not awarded OCHFT Financing Jun 21 Met with City of Santa Ana staff to review revised conceptual plans Jan 22 Submitted Historic Resource Commission and entitlements application to City of Santa Ana Feb 22 Applied to City of Santa Ana for HOME-ARP Funding and PBVs Mar 22 City of Santa Ana Historic Resource Commission Approval Mar 22 Applied to OCHFT Financing Mar 22 Applied to AHP Financing Apr 22 Awarded City of Santa Ana for HOME-ARP Funding and PBVs May 22 Awarded OCHFT Funding May 22 City of Santa Ana Planning Commission Approval of entitlements May 22 City of Santa Ana Community Development Commission Approval of Funding and Density Bonus Agreement (DBA) Jun 22 Notified not awarded AHP Funding Jun 22 Applied to County of Orange for ARPA Funding Jun 22 City of Santa Ana City Council Approval of DBA Jun 22 Awarded County of Orange ARPA Funding Jun 22 Applied for TCAC 9% competitive federal tax credits Sept 22 TCAC Allocation Sept 22 Start Construction Documents, Plan Check and Permitting EXHIBIT 2 Page 6 Jan 23 Closing Kick Off Mar 23 Receive grading permit and building permit ready letter Mar 23 Construction loan closing Mar 23 Pull Permits and start construction Apr 23 Site Demolition Jun 23 Groundbreaking Ceremony Nov 23 Podium Complete Jun 24 Dry In Complete Nov 24 Construction Complete May 25 100% Full occupancy (6 months) FX Residences – 801, 809, 809 ½ 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 May19 Board of Supervisors meeting for SNHP funding Jul 19 Execute Development Agreement Jul 19 Formal awards letters for NPLH funding to be issued Aug19 Initial planning submittal Sept19 Sunshine Ordinance Meeting Mar 21 Planning Commission Meeting (ministerial approval of density bonus) Oct 21 Submit for first plan check Dec 21 City Council Meeting (ministerial approval of density bonus) Dec 21 City Council approval of additional $587,000 for construction costs Feb 22 Building permit submittal Mar 22 Received 1st set of comments back from Plan Check, consultants working on responses. Jul 22 FX Funding Closing Meetings begin, 2nd Building Plan Submittal Aug 22 Building and Grading comments being addressed Oct 22 Construction Funding Closing process is underway Dec 22 Dry closed funding for CalHFA/SNHP and City of Santa of Santa Ana April 23 Met with city planner to clarify all comments on 3rd submittal April 23 Submit 4th building review & OCFA building review May 23 Pull Building Permits & PGP Permits June 23 Groundbreaking Ceremony July 23 Start of Construction Sept 24 Start of Lease Up Dec 24 Estimated Completion of construction EXHIBIT 2 Page 7 Projects in Pre-Development Habitat for Humanity – 1921 Washington Avenue Dec 21 Habitat for Humanity OC closed escrow on property Aug 22 Subsidy Approval from Community Development Commission Nov 22 Subsidy Approval from City Council Dec 22 Submit Demo Permit Application Jan 23 Demo Permit Issued Feb 23 Submit Site Plan Review Application Mar 23 Apr 23 First Sunshine Ordinance Meeting Geological Soils Testing May 23 Second Sunshine Ordinance Meeting Jun 23 Second Sunshine Ordinance Meeting report submitted Jun 23 Responses to comments received submitted Jul 23 Demolition Permit Aug 23 Submit Grading / Non-Priority WQMP Aug 23 Submit Architectural Plans Sep 23 Planning Commission Approval Sep 23 Groundbreaking Ceremony Nov 23 Building Permit issued Nov 23 Begin Foundation Construction Jan 24 Framing Ceremony Aug 24 Complete Rough Inspections Dec 24 Construction Completed