Laserfiche WebLink
Housing Division Quarterly Report <br />May 2, 2023 <br />Page 10 <br />3 <br />3 <br />9 <br />8 <br />Update <br />The developer closed on their construction loan financing and began <br />construction in March 2023. City Council approved the HOME-ARP Loan <br />Agreement and three other Subordination Agreements on March 7, 2023. <br />The expected construction completion date is November 2024. <br />Projects in Pre-Development <br />FX Residences (801, 809, 809 ½ E Santa Ana Boulevard) <br />Developer HomeAid Orange County, Inc. with Mercy House as the service provider <br />Description New construction of an affordable multifamily apartment complex consisting <br />of 16 units of permanent supportive housing, and one (1) manager’s unit. <br />City / Authority <br />Funds <br />Housing Successor Agency ($1,656,947), three (3) PBVs, 99-year ground <br />lease agreement for 801 E. Santa Ana Blvd. (Appraised Value as of Oct 25, <br />2018: $788,000) <br />Update <br />HomeAid and Builder Captain City Ventures expect to pull permits by the <br />end of the 2nd quarter of 2023 and break ground on the project middle of the <br />2nd quarter of 2023. Completion of the project is estimated by the 1st quarter <br />of 2024. <br />Habitat for Humanity (1921 W Washington Avenue) <br />Developer Habitat for Humanity of Orange County <br />Description New construction of three (3) duplexes / six (6) homes for homeownership <br />serving households up to 80% AMI. <br />City / Authority <br />Funds Inclusionary Housing Funds ($2,200,000) <br />Update <br />The entitlement application for the project was submitted in February 2023. <br />The first community Sunshine Ordinance meeting was held on March 14, <br />2023, at the El Salvador Community Center in Santa Ana. The meeting was <br />attended by over 45 individuals. Representatives from Habitat for Humanity <br />and the City presented attendees information on the project and provided an <br />opportunity for questions. The interest in the opportunity to apply for the <br />homes outweighed any concerns expressed by the group. Overall, the <br />project was overwhelmingly well received by the community. In March, the <br />property was fenced off. Geological testing was started and will be <br />completed in April 2023. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />EXHIBIT(S) <br />1. Available Funds for Affordable Housing Development Projects <br />2. Project Timelines <br />Submitted By: Michael L. Garcia, Executive Director of Community Development <br />Approved By: Kristine Ridge, City Manager