Agenda Packet_2022-02-01 - Laserfiche WebLink

Home Browse Search

Quarterly Report for Housing Division Projects and Activities February 1, 2022 Page 4 December 2021 215 Total 480 Available Funds and Land Assets for Affordable Housing Development Projects The City of Santa Ana and the Housing Authority acting as the Housing Successor Agency manages multiple sources of local, state and federal funds to promote and facilitate the development of affordable housing as well as land assets held by the Housing Authority. Exhibit 1 provides a summary of the funds available as of December 30, 2021. Exhibit 2 provides a summary of available land assets. Housing Opportunity Ordinance On -Site Development: Since 2011, a total of 33 units have been developed on -site as a result of the ordinance, including 23 ownership units for -sale and 10 rental units: Units Built On -Site Ownership Rental Total 23 10 33 In -Lieu Fees Generated: All in -lieu fees, penalties and other monies collected pursuant to the Housing Opportunity Ordinance, including interest, are deposited into the Inclusionary Housing Fund. Since inception, the Inclusionary Housing Fund has generated $28,204,992 to be used for the development of housing affordable to low- and moderate -income households, with a reasonable amount spent on administrative or related expenses associated with the administration of the Housing Opportunity Ordinance. In -lieu fees generated have been used to develop new affordable housing opportunities, provide emergency shelter, and create homeownership opportunities. Below is a summary of how in -lieu fees have been used by the City: Project Inclusionary Housing # of Units Address Funds SPENT Santa Ana Arts $4,775,000 57 1666 N Main Street Collective Tiny Tim Plaza $1,300,000 50 2239 West 5th Street The Link Interim $4,140,295 N/A 2320 S Red Hill Emergency Shelter Avenue TOTAL $10,215,295 107 City Council 8-4 2/1/2022