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In accordance with 24 CFR 92.205(e)(2), the Project will be completed <br />Requirement <br />Met <br />within four years of the date the HOME funds are committed. <br />Project is associated with approved Consolidated Plan / <br />Annual Action Plan projects <br />The Project will comply with the property standards and affordability <br />requirements imposed by CFR 92.252(e). <br />VIII. COMMITMENT CHECKLIST (§92.2) <br />HOME funds are not committed to an identifiable project in IDIS until the parties have provided <br />the following: <br />Requirements <br />Requirement <br />Met <br />Completion Dates <br />Project is associated with approved Consolidated Plan / <br />Annual Action Plan projects <br />Environmental Review Requirements have been met <br />Legally binding written agreement has been executed <br />® <br />July 5, 2018 & August <br />21, 2018 <br />All necessary financing is secured <br />® <br />August 21, 2018 <br />Subsidy Layering & Underwriting Analysis Completed <br />® <br />August 6, 2018 <br />Construction Expected to begin within 12 months <br />Commitment Date <br />I Not Applicable <br />By September 20, 2018 <br />City of Santa Ana HOME Subsidy Layering Review: Santa Ana Arts Collective Page 123 <br />25J-45 <br />