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Aqua Apartments — TEFRA Hearing <br />December 4, 2018 <br />Page 3 <br />The property is situated along the north side of 17th Street, with the 1-5 freeway bordering the <br />property to the east and single family and multifamily buildings to the west. The building design <br />includes one level of an on -grade structured garage with 36 parking stalls along with guest parking <br />near the entrance to the property. There are two 4 -story residential buildings, the first of which <br />includes the management and services offices along 17th street, in the commercial zoned section <br />of the property. Buildings are connected by a catwalk and serviced by an elevator. Interior units will <br />be improved with energy efficient appliances, low -flow plumbing fixtures, solid surface countertops, <br />vinyl plank flooring, A/C and heat. The owner will pay utilities and common area laundry will be <br />provided. The project will be financed through 4% federal low-income housing tax credit equity, <br />permanent hard debt, Affordable Housing Program funds, Mental Health Services Act funds, and <br />deferred developer fee. Fifty-six Project -Based Vouchers (PBVs) from the Santa Ana Housing <br />Authority have been awarded, which will ensure all residents have rental assistance and pay no <br />more than 30% of their income. Mercy House and the property management company will follow a <br />Housing First model and make every effort to help applicants get approved for and then maintain <br />housing. Mercy House will take applicant referrals from the Coordinated Entry System and work <br />with applicants to secure housing. The Project received site plan / design review approval on June <br />20, 2017, and received an allocation of 4% low-income housing tax credits in October 2018. <br />Construction start is anticipated by February 2019 with completion in April 2020. <br />The Housing Element of the City's General Plan contains various goals and policies which are <br />intended to provide a diversity of quality housing, affordability levels and living experiences that <br />accommodate Santa Ana's residents to foster an inclusive community. Additionally, the General <br />Plan encourages development of affordable rental and ownership housing for seniors, people with <br />disabilities, families with children, and people needing emergency, transitional or supportive <br />housing options. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal # 5 - Community Health, Livability, <br />Engagement & Sustainability, Objective # 3 (Facilitate diverse housing opportunities and support <br />efforts to preserve and improve the livability of Santa Ana neighborhoods). <br />FISCAL IMPACT <br />The City received a payment of $832.40 in November 2018 to hold a TEFRA Hearing for this project <br />that was deposited into Account # 01102002-53902. <br />APPR VED AS TO FUNDS AND ACCOUNTS: <br />Steven A. Mendoza Ka hryn Downs, CPAP <br />Executive Director Executive Director <br />Community Development Agency Finance and Management Services Agency <br />Exhibits: 1. Resolution <br />2. Notice to Applicant <br />75A-3 <br />