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Agreements for the Development of the Crossroads at Washington <br />June 21, 2022 <br />Page 14 <br />2 <br />7 <br />6 <br />6 <br />The proposed Site Plan includes approximately 120 surface parking spaces, of which 38 <br />spaces would be tandem spaces, which will be assigned to the three-bedroom and four- <br />bedroom apartments, along with some two-bedroom apartments. Residents will not be <br />charged for parking. As a transit-oriented development, the Project is at the start of the <br />OC Streetcar and directly across the street from the Santa Ana Regional Transportation <br />Center. A total of 120 parking spaces will be sufficient for this type of transit-oriented <br />development. <br />FISCAL IMPACT <br />Funds for the HOME Investment Partnerships Program Loan Agreement in the amount <br />of $2,706,740.10 (90% of the original award amount) are available in the HOME <br />Investment Partnerships Program, Loans and Grants account (no. 13018780-69152) for <br />expenditure in the current fiscal year. The remaining $300,748.90 (10%) will be budgeted <br />and included in the FY 2022-23 annual budget. <br />Funds for the Neighborhood Stabilization Program Loan Agreement in the amount of <br />$1,637,420 (100% of the original award amount) are available in the Neighborhood <br />Stabilization Program 1, 2, and 3, Loans and Grants accounts (nos. 14218760-69152, <br />14218761-69152, and 14218762-69152) for expenditure in the current fiscal year. <br />Recognize and appropriate Neighborhood Stabilization Program 1-3 revenue from prior <br />year fund balance of $237,371 and grant funds of $246,501. This additional funding is to <br />complete the necessary $1,637,420 (ttached as Exhibit 16). <br />Appropriation Adjustment <br />From Accounting Unit Amount To Accounting Unit Amount <br />14218760-69152 $240,042 Federal <br />Grant <br /> Direct <br />14218002-52000 $246,501 Neighborhood <br />Stabilization Program <br />1 & 3 14218762-69152 $6,459 <br />14218760-69152 $103,004 <br />14218761-69152 $121,549 <br />Prior Year <br />Fund <br />Balance <br />14218002-50001 $237,371 <br />Neighborhood <br />Stabilization <br />Program 1-3 14218761-69152 $12,818 <br />The total estimated development impact fees to be deferred for the project is estimated <br />to be $652,717 as follows: <br />Fee Description Factor Factor Total <br />Transit Zoning <br />Code Traffic Impact <br />Mitigation Fair <br />Share <br />$1,333.54 per unit 86 Units $114,685