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Quarterly Report for Housing Division May 21, 2019 Page 6 the six proposals for this site passed the minimum threshold review and were reviewed by the Review Panel of City employees on October 30, 2018. The three proposals were then provided to the County for review and recommendation. The County met and interviewed the three developers and provided their recommendation to the City on March 7, 2019. Each of the projects made substantial changes to the initial proposals they had previously submitted to the City, upon further discussion with the County. The revised proposals were then provided to the City on March 21, 2019. Keyser Marston and Associates performed a preliminary financial analysis of the revised proposals and the City Review Panel was reconvened on April 10, 2019. The City and County met on April 17, 2019 to finalize the recommendation for joint development of the site. At the May 22, 2019 Community Redevelopment and Housing Commission meeting, City staff will recommend the approval of a pre -loan commitment and 99 -year ground -lease with the Related Companies of California for the development of this parcel. Following approval by the Housing Commission, staff will recommend the project award to City Council / Housing Authority. PROJECTS UNDER DEVELOPMENT There are three (3) affordable housing developments under construction and an additional six (6) affordable housing projects in pre -development. Below are brief summaries for the nine (9) projects under development. Exhibit 3 provides a development timeline for the larger development projects. Projects under Construction First Street Apartments (1440 E. First Street) • Developer: AMCAL Multi -Housing, LLC. • Description: Demolition and new construction of an affordable multifamily apartment complex consisting of 68 units of rental housing serving very -low and extremely -low income families, and 1 manager's unit. • City Funds: Housing Successor Agency ($8,522,740) • Update: Construction is 50% complete and construction is anticipated to be completed by end of September 2019. The pre -leasing process will be started in May, approximately 120 days prior to occupancy. Santa Ana Arts Collective (1666 N. Main Street) • Developer: Meta Housing Corporation • Description: Acquisition, adaptive reuse and new construction project comprised of 57 affordable rental units designated for professional artists of all disciplines, and 1 manager's unit. Permanent supportive housing for 15 units will be funded by MHSA/SNHP funds from the County of Orange. • City Funds: Inclusionary Housing ($4,775,000), HOME ($2,627,631), CDBG ($500,000) • Update: Construction is 35% complete. Foundation structural revisions were required, which has delayed the schedule. Construction is anticipated to be complete at the end of October with occupancy expected in November 2019. The marketing timeline has been adjusted accordingly since tenant eligibility documentation must be dated within 120 days of occupancy. The four educational sessions to inform artists on how to apply for housing are now 19D-6