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Quarterly Report Housing Division Projects and Activities March 5, 2019 Page 4 all of the inspected units were found to be in compliance at the time of initial inspection. During this quarter staff also audited 10 Housing Opportunities Ordinance rental files. 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 promote and facilitate the development of affordable housing as well as land assets held by the Housing Successor Agency. Exhibit 1 provides a summary of the funds available as of the end of this quarter. Exhibit 2 provides a summary of available land assets. Housing Opportunity Ordinance On -Site Develooment: Since 2011, a total of 33 units have been developed on-site as a result of the 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 Housing Opportunity Ordinance, including interest, are deposited into the Inclusionary Housing Fund. Since inception, the Inclusionary Housing Fund has generated $13,885,436 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 Housing Opportunity Ordinance. These fees were generated from a total of 9 projects that opted to pay the in -lieu fee instead of building units on-site. If those 9 projects had instead built the inclusionary housing units on-site, a total of 393 low-income units or 263 very low-income units would have been created. By comparison, there were 2,589 market -rate units produced or are under construction. Affordable Housing Units under Construction/ Pre -Construction with /n -Lieu Fees: A total of 108 units are under construction / pre -construction with an investment of in -lieu fees generated. This includes a $4,775,000 loan of in -lieu fees to develop 57 units of affordable housing at the Santa Ana Arts Collective and a pre -loan commitment of $1.3 million of in -lieu fees to develop 51 units of affordable housing at the Tiny Tim Plaza project: Units Under Construction / Pre -Construction with In -Lieu Fees Project # of Units TOTAL Santa Ana Arts Collective 57 108 Tiny Tim Plaza 51 19F-4