Item 05 - Crossroads at Washington Affordable Housing Project at 1126, 1136, & 1146 East Washington Ave.

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Crossroads at Washington Affordable Housing Project at 1126, 1136, & 1146 East Washington Avenue June 21, 2022 Page 12 2 8 1 5 which it holds title and if that property was acquired in whole or in part with property tax increment funds, the Housing Successor must first secure approval of the proposed sale or lease agreement from its local legislative body after a public hearing. The Housing Authority of the City of Santa Ana, acting as the Housing Successor Agency, wishes to lease the property at 1126, 1136, & 1146 East Washington Avenue, Santa Ana, CA 92701, (APNs 398-092-14 and 398-092-13). The property was originally purchased with Low and Moderate Income Housing Asset Funds (also known as property tax increment funds). Therefore, a resolution and summary report pursuant to H&SC Section 33433 has been prepared (Exhibits 14 and 15). The Housing Authority has also conducted the required 14-day public notice period. Notice of the time and place of the hearing was published in the OC Register once per week for two successive weeks, on June 7, 2022, and June 13, 2022, as specified in Government Code section 6066, prior to the public hearing. Project Description The Crossroads at Washington will be 100% affordable to households earning no more than 30 percent of Area Median Income (AMI) of which 43 units will be set-aside for permanent supportive housing, with one exempt 2-bedroom managers unit. The large bedroom units align with the City’s priorities and needs while the permanent supportive housing units meets the County’s priorities for their financial contribution and property. The unit mix and rent restrictions are as follows: Bedroom Size 30% AMI (PSH) 30% AMI Manager’s Unit Total Units Studios 16 16 One-Bedroom 26 26 Two-Bedroom 1 20 1 22 Three-Bedroom 17 17 Four-Bedroom 5 5 TOTAL 43 42 1 86 Related has partnered with A Community of Friends (“ACOF”) as its non-profit partner to develop the Crossroads at Washington (the “Project”) to provide the services and expertise for serving the permanent supportive housing units. [Any future reference to “Developer” refers to Washington Santa Ana Housing Partners, L.P., a California limited partnership formed by the Developer.] ACOF is one of the most experienced developers of permanent supportive housing in Los Angeles County and Southern California, with a long track record of delivering high quality supportive housing for people who were formerly homeless. ACOF has completed 50 housing developments with supportive housing for homeless individuals and families.