KEYSER MARSTON ASSOCIATES (4) - Laserfiche WebLink

Home Browse Search

CITY OF SANTA ANA COMMUNITY DEVELOPMENT AGENCY — AFFORDABLE HOUSING FINANCIAL, ANALYTICAL & ADVISORY SERVICES One of these'projects is the multi -phase Bloomington multigenerational housing and public library mixed use project being developed on a `County -owned site, Phase I of the project consisted of 72 senior -citizen apartment units, 35 family apartment units, and a 6,600 square foot public library, Phase 1 also included 11 permanent supportive housing (PSH) units, Phase II consisted of 84 affordable family apartments. Phase Ill is currently under construction and will include 98 affordable units . including 20 PSH units, Phase 111 also includes the development of a public park adjacent to the Site, Specifically with regards to Phase III, the developer requested financial assistance from the County, which consisted of the.following.sources: a capitalized land rent, NSP 3 funds, Tax -Exempt Bond. proceeds, Low and Moderate Income Housing Asset (LMIHAF) funds, and HOME funds. KMA analyzed multiple pro forma and cash flow scenarios to determine the best financial structure for the project. KMA also assisted In negotiations with the developer, advised on the ground lease structure, as well as provided HOME layering analysis services _ Including identifying the number of required HOME units and preparing a HOME Subsidy Layering Review. Since the site was purchased with tax-exempt bonds secured by property tax Increment housing set -aside funds, KMA also prepared a 33433 Report and reuse analysis for the project. KMA completed financial advisory services for Phase III In 2020. Deputy Executive Officer — Community oevelopmen# & Housing Agency , County of San Ternardino 'hone 909-387-4411 Email: dem.fuQptes©cdh.sbcoiirrty.gov... 385 N. Arrowhead Ave.; 31,d Floor; San Bernardino, CA 92415-0121 City of Los Angeles -- Los Angeles Housing Department (LAHD) KMA provides ongoing affordable housing consulting services to LAHD on a variety,of affordable ownership and rental projects. LAHD received numerous properties from the former Community Redevelopment Agency of the City of Los Angeles, as well as surplus properties from. other City. departments. These properties are proposed to be developed with affordable housing projects with a focus on providing PSH units. KMA's tasks include: 1. Affordability and feasibility gap analyses; 2. Property disposition reports; and . 3. Developer selection and negotiation for long term ground leases Keyser Marston Associates, Inc. �_ �� — Page 113