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Pre -Commitment of Affordable Housing Funds to Community Development Partners <br />April 7, 2020 <br />Page 3 <br />Bedroom <br />Size <br />30% <br />AMI PSH <br />30% <br />AMI <br />60% <br />AMI <br />Manager's <br />Unit <br />Total Units <br />One -Bedroom <br />23 <br />23 <br />Two -Bedroom <br />3 <br />1 <br />4 <br />Three -Bedroom <br />21 <br />13 <br />34 <br />Four -Bedroom <br />16 <br />8 <br />24 <br />TOTAL <br />26 <br />37 <br />21 <br />1 <br />85 <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), and Strategy C <br />(Provide that Santa Ana residents, employees, artists and veterans receive priority for affordable <br />housing created under the City's Housing Opportunity Ordinance or with City funding to the <br />extent allowed under state law). <br />FISCAL IMPACT <br />The various agreements, including the loan agreements, are estimated to be finalized for City <br />Council approval in FY 2020-21. Upon future approval of the loan agreements, funds will be <br />budgeted and available as shown below: <br />Fiscal <br />Accounting Unit — <br />Accounting Unit, <br />Year <br />Account # <br />Fund Description <br />Account <br />Amount <br />Description <br />FY 20-21 <br />13018780-69152 <br />HOME Program <br />Loans & Grants <br />$2,003,705 <br />FY 20-21 <br />41718820-69152 <br />Inclusionary Housing <br />Loans & Grants <br />$1,514,113 <br />Fund <br />FY 20-21 <br />14518760-69152 <br />Rental Rehabilitation <br />Loans & Grants <br />$ 386,523 <br />Program <br />Total Loans <br />$3,904,341 <br />Exhibits: 1. Pre -Commitment Letter with CDP and Mercy House CHDO <br />2. Preliminary Financial Gap Analysis by Keyser Marston Associates <br />3. Proposed Project Renderings / Preliminary Site Plan <br />