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Appropriation Adjustment, Density Bonus and Development Impact Fee Deferral Agreement for FX Residences December 7, 2021 Page 11 manager. There will be a local preference for chronically homeless residents of Santa Ana who live or work in the City. The unit mix and rent restrictions are as follows: Unit Size No. Units AMI 1-Bedroom 9 30% 7 25% 1 Manager's Unit FISCAL IMPACT Approval of the appropriation adjustment will allocate $528,300 (90% of the additional award amount) to the Low and Moderate Income Housing Asset Fund, Loans and Grants account (no. 60718830-69152) for expenditure in the current fiscal year. The remaining $58,700 (10%) will be budgeted and included in the FY 2022-23 annual budget. The total estimated development impact fees to be deferred for the project is estimated to be $510,000 as follows: Accounting Unit Fund Description Accounting Unit, Amount — Account # Account Description 31213002-53300 Residential District Park A & D $377,400 Development District 2 Fees 12015002-53700 Fire Facilities Fund Improvement Fee $81,600 99117002-50301 Transportation System TSIA from City of Santa $51,000 Improvement Authority Ana TOTAL $510,000 The final fee amount to be deferred will be calculated at the time of the final inspection or issuance of a certificate of occupancy for the project, whichever comes first. There is no negative fiscal impact as the deferred amount will be paid back to the City. However, it should be noted that the FY 21-22 deferred amount may be received in FY 22-23. Fiscal Impact Verified By: Kathryn Downs, CPA, Executive Director — Finance and Management Services Agency EXHIBITS 1. Staff Report from January 15, 2019 2. Pre -Loan Commitment Letter 3. Keyser Marston Associates, Inc. Financial Gap Analysis 4. Housing Successor Agency Loan Agreement 5. 99-Year Ground Lease 6. Density Bonus Agreement City Council 16 — 11 12/7/2021