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EXHIBIT 2 <br />H. HOME Rents/ Utility Allowances <br />The tenants will not be responsible for paying utilities. The following provides the current <br />HOME rents as of July 2018 for Orange County as published by HUD: <br />Low HOME <br />1 -Bedroom <br />$1,025 <br />$0 $1,025 <br />Low HOME <br />2 -Bedroom <br />$1,230 <br />$0 $1,230 <br />The HOME Regulatory Agreement requires that two units are restricted as Low HOME units <br />I. Financial Commitments <br />The Developer provided financial commitment documentation for the following sources: <br />1. An executed financing commitment letter from Union Bank dated June 6, 2018 to <br />provide a $23,000,000 construction loan and a $9,790,000 permanent loan. <br />2. An executed financing commitment letter from Union Bank dated June 6, 2018 to <br />provide $1.02 per Tax Credit as equity financing. <br />3. A reservation letter dated June 13, 2018 from TCAC to provide $12,648,740 in federal <br />Tax Credits. <br />4. A commitment letter from OCCF dated February 8, 2018 to provide a $1,500,000 loan. <br />5. A commitment letter from CalHFA dated February 2, 2017 to provide $2,912,000 in <br />SNHP loan for 20 units. <br />6. A commitment letter from the Federal Home Loan Bank dated June 18, 2018 to provide <br />a $750,000 loan. <br />7. Home Depot provided a letter dated May 1, 2018 that commits a $500,000 grant to the <br />Project. <br />8. Santa Ana Housing Authority provided a May 4, 2017 commitment letter to provide 75 <br />VASH vouchers to the Project. <br />9. The City entered into the HOME Agreement to provide $352,963 to the Project on <br />August 21, 2018. <br />City of Santa Ana Underwriting & Subsidy Layering Review: Veteran's Village Page 121 <br />25L-31 <br />