Laserfiche WebLink
Orozco, Norma <br />From: Soto, Daniel <br />Sent: Tuesday, May 05, 2020 3:25 PM <br />To: eComment <br />Subject: FW: Item 85B Affordable Fee Discussion <br />-----Original Message ----- <br />From: Tim O'Brien <TOBrien@legacypartners.com> <br />Sent: Tuesday, May 5, 2020 12:40 PM <br />To: Pulido, Miguel <MPulido@santa-ana.org>; Sarmiento, Vicente <VSarmiento@santa-ana.org>; Iglesias, Cecilia <br /><Clglesias@santa-ana.org>; Solorio, Jose <JSolorio@santa-ana.org>; Penaloza, David <DPenaloza@santa-ana.org>; <br />Bacerra, Phil <pbacerra@santa-ana.org>; Villegas, Juan <JVillegas@santa-ana.org> <br />Cc: Ridge, Kristine <kridge@santa-ana.org>; Thai, Minh <mthai@santa-ana.org> <br />Subject: Item 85B Affordable Fee Discussion <br />Dear Honorable Mayor and City Council Members, <br />As you may recall, your Council unanimously approved our multi family project at 651 W. Sunflower in the South Coast <br />Metro area of Santa Ana last summer. Prior to that, we worked hard with staff for nearly two years to earn the full <br />support of the Planning Commission, Sandpointe Community, and labor union. <br />Since the project approval, we have been working diligently on construction documents/ building plan check and are <br />very close to having a permit ready project. <br />Unfortunately, the economic fallout from COVID19 is jeopardizing the project, and the jobs and housing that it will bring <br />to the City. Since our original underwriting projections, the instability of the lending market and the current economic <br />uncertainty is forcing us to consider that the project may no longer be viable without a reduction of costs. The <br />reduction of the HOD fee would make a material impact in our ability to move forward at this stage. <br />Collectively, we have come so far on the Sunflower project and with your continued support and consideration of the <br />HOO fee, we hope that it can become a reality. <br />Sincerely, <br />Tim O'Brien <br />Legacy Partners <br />Sent from my Wad <br />