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Housing Division Quarterly Report <br />September 6, 2022 <br />Page 8 <br />2 <br />9 <br />2 <br />9 <br />Housing ($1,514,113) and HOME Investment Partnerships Program <br />($2,003,705) loan funds at closing, and 100% of our Rental Rehabilitation <br />Program funds. HOME Grading activities are currently taking place at the site. <br />A groundbreaking ceremony data is to be determined. Completion of the <br />project is anticipated in February 2024. <br />Projects in Pre-Development <br />Crossroads at Washington (1126, 1136 and 1146 E Washington Avenue) <br />Developer Related Companies of California with A Community of Friends (ACOF) as co- <br />developer and lead service provider <br />Description <br />New construction of a 100% affordable multifamily apartment complex <br />consisting of 85 units of rental housing and one (1) manager’s unit. All units <br />will be affordable to households earning less than 30% AMI of which 43 units <br />will be set-aside for permanent supportive housing. <br />City / Authority <br />Funds <br />HOME Investment Partnerships Program ($3,007,489), Neighborhood <br />Stabilization Program ($1,637,420), sixty-five (65) year ground lease <br />agreement for 1126, 1136 and 1146 E. Washington Avenue (Appraised Value <br />as of September 22, 2019: $4,108,136) Fifteen (15) Project-Based Vouchers <br />(PBV’s) <br />Update <br />The City, County, and Department of Toxic Substances Control (DTSC) <br />entered into a Standard Voluntary Agreement for further agency oversight. <br />DTSC approved the draft Removal Action Workplan (RAW) on March 28, <br />2022 and the Removal Implementation Plan which is required for the start of <br />remediation activities. Remediation/Cleanup in accordance with the RAW is <br />complete. DTSC approved the cleanup completion report. DTSC’s Land Use <br />Covenant relating to the remaining contamination of PCE on the Housing <br />Authority’s parcel was executed and recorded. With the help of the Developer, <br />the Housing Authority and County secured an award of DTSC’s Equitable <br />Community Revitalization Grant (ECRG) funds. These funds will be used for <br />unforeseen environmental conditions during the construction of the affordable <br />housing project. The construction loan closing will occur in July 2022. <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 />On December 7, 2021, City Council approved an additional $587,000 from its <br />Low and Moderate Income Housing Asset Fund due to an unanticipated <br />increase in construction costs for the project. City Council also approved the <br />project’s Loan Agreement, 99-Year Ground Lease, Density Bonus <br />Agreement, and Development Impact Fee Deferral Agreement. HomeAid <br />Orange County submitted for the first grading plan check in November of 2021 <br />and for the first building plan check in February of 2022. There have been <br />comments back on a few plans and HomeAid is working with their engineers <br />to resubmit those plans. They are expecting permits to be pulled in late