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Quarterly Report for Housing Division December 1, 2020 Page 7 live/work preference. The project anticipates completion and occupancy at the end of 2020. Projects in Pre -Development Crossroads at Washinqton (1126 and 1146 E. Washington Avenue) Developer Related Companies of California with A Community of Friends (ACOF) as co -developer and lead service provider New construction of a 100% affordable multi -family apartment complex Description p consisting of 85 units of rental housing and one manager's unit. All units will be affordable to households earning less than 30% AMI of which 43 units will be set -aside for permanent supportive housing. HOME Investment Partnerships Program ($3,007,489), Neighborhood City Funds Stabilization Program ($963,951), 65-year ground lease agreement for 1126 and 1146 E. Washington Avenue (Appraised Value as of September 22, 2019: $4,108,136 The Project received its entitlements on February 24, 2020. The Project received a formal commitment for 43 Project Based Vouchers from the Orange County Housing Authority on March 5, 2020. In February, the City and County approved the 65-year Ground Lease, Option Agreement for the Ground Lease, Joint Powers Agreement and Quitclaims associated with the JPA. The documents were approved by City Council on February 18, 2020. The Option Agreement was executed shortly afterwards. Following these approvals, the developer submitted a 9% Tax Credit application for the TCAC 9% Application 1 st Round on March 9 but did not receive an award. Update Developer submitted an FCAA 9/o Tax Credit application in July 2020 (Round 2). Funding awards for Round 2 will be announced at the next CTCAC Committee meeting which has been rescheduled to October 14, 2020. The Project is pursuing additional environmental assessments based on the conditions of the sites (City and County parcels) identified in the Phase I Environmental Site Assessment and the Phase II Environmental Site Assessment. Additional assessment is required to determine the extent of contamination and scope of future remediation activities. Changes to the project timeline are anticipated. FX Residences 801, 809, 809 % East Santa Ana Boulevard Developer HomeAid Orange County, Inc. with Mercy House as the service provider New construction of an affordable multi -family apartment complex Description consisting of 16 units of permanent supportive housing, and one manager's unit. Housing Successor Agency ($1,069,947), three HUD-VASH PBVs, 99-year City Funds ground lease agreement for 801 E. Santa Ana Blvd. (Appraised Value as of October 25, 2018: $788,000 19 D-7