80B - JAMBOREE HOUSING PRE-LOAN COMMITMENT

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Commitment of Affordable Housing Funds and Project -Based Vouchers to Jamboree Housing March 5, 2019 Page 6 USES Acquisition $15,088,888 Hard Costs $6,700,000 Indirect Costs $2,831,028 Contingency $1,149,953 Financing $2,527,983 Developer Fee $1,400,000 TOTAL USES $29,697,852 The site is located within the Harbor Mixed Use Transit Corridor Specific Plan Area ("HMUTC"). Jamboree has met with staff from the Planning and Building Agency (PBA) to determine the viability of the proposed use at this location and the associated development constraints. Furthermore, PBA staff have also presented the preliminary design concept to others in their department who have indicated conceptual support for the design aesthetic and site plan. This is subject to review of a full submittal, such as was completed for the Santa Ana Veterans Village ("SAW') project, similarly located in the HMUTC. From a zoning perspective, the proposed use is allowed under the existing overlay. As plans are developed fully, Jamboree may approach the City about development incentives; however, discretionary land use approvals should not be needed. The current building is about 31,000 square feet and would include 89 studio units (estimated about 325 square feettunit) to house eligible homeless veteran households referred by the Veterans Affairs Medical Center of Long Beach to the Housing Authority. There would be one on-site employee unit. The parking count would be 107 spaces. The proposed ingress and egress would be achieved via the current driveway onto Harbor Blvd. The rehabilitation would include adding kitchenettes in 53 units, full size refrigerators in all units, new flooring and window coverings, repainting interiors, refinishing the existing tub / showers, replacing all angle stops, swapping out all existing fixtures for low flow fixtures, replacing existing light fixtures with LED fixtures, new dual pane windows, and a host of other items. The existing water boilers will be swapped out with high efficiency boilers utilizing solar thermal to preheat the water. As a part of the rehabilitation, Jamboree will undertake a comprehensive analysis to improve energy efficiency onsite and increase energy efficiency by at least 15% over existing conditions. All units will be fully furnished, providing a turnkey solution for future residents. The lynch pin for the service model onsite is the construction of a new clinical space where there is currently a small pool / spa. Having clinical support in close proximity ensures delivery of needed services to the veterans. Much like SAW, Jamboree will have space for a number of agencies to provide services, such as legal services, job training, and family counseling. This project will also share a similar service model as the SAW, where the Veterans Affairs staff will provide case management services, but greatly enhanced by staff from Jamboree's Community Impact team. As is essential with any permanent supportive housing project, the wrap-around supportive services must integrate effectively with the property management. Jamboree will employ the John Stewart Company as the property: manager, as they are one of the largest and most experienced operators of special needs housing in the state. It will also allow Jamboree to more effectively leverage the relationships they have with various stakeholders at the Veterans Village 80B-6