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Housing Division Quarterly Report <br />February 7, 2023 <br />Page 3 <br />3 <br />2 <br />1 <br />9 <br />Table 2: Portfolio Revenue <br /> Funding Source <br />HOME CDBG Redevelopment NSP CalHOME Inclusionary <br />Loan Payoffs $0 $0 $18,028.27 $0 $0 $0 <br />Residual Receipts <br />Payments $285,586.49 $0 $37,689.00 $0 $0 $0 <br />Amortized Loan <br />Payments $1,335.45 $5,416.01 $20,955.21 $0 $200.00 $0 <br />Total for Q2 $286,921.94 $5,416.01 $76,672.48 $0 $200.00 $0 <br />Monitoring <br />As part of the requirements for these loans, staff must monitor the owner-occupancy of <br />single-family homes that have received loans, and the building code compliance of units <br />in rental projects with long-term affordability covenants. During this quarter, 54 owner- <br />occupancy recertification letters were mailed and 45 were returned and processed. This <br />number includes letters sent from previous months. Staff also conducted a total of 58 <br />inspections during this quarter. <br />Density Bonus Housing Agreements <br />The California Density Bonus law allows developers proposing five or more residential <br />units to seek increases in base density for providing on-site housing units in exchange <br />for providing affordable units on site. To help make constructing on-site affordable units <br />feasible, the law allows developers to seek up to three incentives/concessions and an <br />unlimited number of waivers, which are variances from development standards that <br />would help the project be built without significant burden and without detriment to public <br />health. The first version of the Density Bonus Law was adopted in 1979 and has since <br />been amended at various times. Recent revisions allow affordable housing developers <br />to request incentives/concessions and/or waivers for 100-percent affordable <br />developments, even if they do not require a numerical density bonus. Moreover, in early <br />2017, the law was amended to restrict the ability of local jurisdictions to require studies <br />to “justify” the density bonus, and requests incentives/waivers and places the onus on <br />local jurisdictions to prove that the incentives/concessions or waivers are not financially <br />warranted. <br />As of the date of this report, the City of Santa Ana has entered into the following Density <br />Bonus Housing Agreements: <br />Date of <br />Agreement <br />Developer or Housing <br />Development <br />Housing Development <br />Address Affordable Units <br />October 2018 <br />Metro East Senior Park, <br />aka, Santa Ana Senior <br />Associates <br />2222 E. First St. <br />415 Rental units restricted <br />for Very Low Income and <br />Low Income or Senior <br />Tenants <br />August 2018 <br />First Point I & II <br />Apartments, aka, Santa <br />Ana Pacific Associates <br />2110, 2114 and 2020 E. <br />First St. <br />547 Rental units restricted <br />for Very Low Income and <br />Low Income Tenants <br />November 2019 The Rafferty, aka, QOZB <br />III, LLC 114 & 117 E. Fifth St. <br />11 Rental units restricted <br />for Very Low Income <br />Tenants