Laserfiche WebLink
Housing Successor Agency Funds Loan Agreement with AMCAL Multi -Housing, Inc. <br />January 16, 2018 <br />Page 3 <br />units, 28 three-bedroom units and 35 two-bedroom units (one being a manager's unit). Eight of <br />the units will be assisted by the Santa Ana Housing Authority's Project -Based Voucher Program. <br />The unit mix and affordabilitv restrictions are as follows: <br />Bedroom Size <br />30% AMI <br />50% AMI <br />60% AMI <br />Manager's Unit <br />Total <br />Two -Bedroom <br />29 <br />4 <br />1 <br />1 <br />35 <br />Three -Bedroom <br />4 <br />17 <br />7 <br />28 <br />Four -Bedroom <br />1 <br />0 <br />5 <br />6 <br />Totals <br />34 <br />21 <br />13 <br />1 <br />69 <br />On-site amenities will include a community room and amenity space including tot lots/play areas <br />for children, outdoor seating, BBQs, a flex play space and planters. The community room will be <br />incorporated into the development, providing a computer laboratory, kitchen, activity room for <br />resident activities, and office space for property management and social services staff. AMCAL <br />will engage the non-profit organization LifeSTEPS to provide free on-site social services to <br />Project tenants. Services will be provided in the form of classes and workshops with the subject <br />matter tailored by a social service coordinator to the specific needs of the community. <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), Strategy C (Provide <br />that Santa Ana residents, employees, artists and veterans receive priority for affordable housing <br />created under the City's Housing Opportunity Ordinance or with City funding to the extent <br />allowed under state law). <br />FISCAL IMPACT <br />Funds in the amount of $8,522,740 are available in the Low and Moderate Income Housing <br />Asset Fund, Loans and Grants account (no. 60718830-69152). Per the loan agreement, one <br />percent of the loan amount will be retained until completion of construction, which is estimated to <br />occur in FY 2019-20. The anticipated expenditure plan is as follows: <br />Fiscal Year Amount <br />2017-2018 <br />$8,437,513 <br />2019-2020 <br />$ 85,227 <br />Total <br />$8,522,740 <br />3-3 <br />