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Request for Proposals for Affordable Housing Development <br />June 19, 2018 <br />Page 3 <br />Land Assets Owned by the Housing Authority <br />Staff is requesting approval to issue this RFP for the development of land currently held by the <br />Housing Authority within the City of Santa Ana. The proposed development of the properties <br />would be solely for the development of affordable housing. The land assets will be awarded under <br />a 99-year ground -lease option such that the land will remain with the City as a long-term public <br />benefit. <br />The land assets owned by the Housing Authority and available for development under this RFP is <br />as follows: <br />(1) 302 E. Twenty -Second Street <br />(2) 801, 809 & 809 % E. Santa Ana Blvd <br />(3) 826 N Lacy / 830 N. Lacy Street <br />(4) 1126 & 1146 E. Washington Ave. <br />Full descriptions of the properties are listed in the attached RFP. <br />The Housing Authority currently owns the land assets, and intends to retain ownership of the site <br />and enter into a long-term ground lease for 99 years with one or more selected developers. The <br />Housing Authority owned parce](s) will be conveyed through a ground lease, in an as -is condition. <br />As it will be stipulated in the ground lease, the value of the land and the site preparation costs will <br />be provided to the project as a land subsidy in the form of a promissory note. <br />The RFP is scheduled for release on July 1, 2018 with proposals due halfway through each FY <br />quarter on August 15, 2018, November 15, 2018, February 15, 2019 and May 15, 2019. The RFP <br />will be announced through notices to the following parties: <br />• Interested Developers and Nonprofit Organizations on the Housing Division's RFP Process <br />Database <br />o Developers and Nonprofit Organizations interested in being added to the RFP <br />Process Database can do so by contacting the City's Housing Division <br />• Other affordable housing membership association resources (e.g. Southern California <br />Association of Nonprofit Housing, Kennedy Commission, 2-1-1 OC, etc.) <br />• Public Notice in the local newspaper <br />• Published on www.Planetbids.com <br />Reservation of Inclusionary Housina Funds <br />In light of local and regional efforts to address homelessness, staff believe that it is prudent to <br />retain $3,141,974 of our Inclusionary Housing Fund balance from the RFP. If unalloGated, the <br />hold may be removed at a later date while the RFP is open. If additional funds are received <br />beyond the $3,141,974, staff will make those funds available in the RFP that is open. <br />19D-3 <br />