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Appropriation Adjustment, Density Bonus and Development Impact Fee Deferral <br />Agreement for FX Residences <br />December 7, 2021 <br />Page 11 <br />2 <br />2 <br />6 <br />3 <br />manager. There will be a local preference for chronically homeless residents of Santa Ana <br />who live or work in the City. The unit mix and rent restrictions are as follows: <br />Unit Size No. Units AMI <br />9 30% <br />7 25%1-Bedroom <br />1 Manager’s Unit <br />FISCAL IMPACT <br />Approval of the appropriation adjustment will allocate $528,300 (90% of the additional <br />award amount) to the Low and Moderate Income Housing Asset Fund, Loans and Grants <br />account (no. 60718830-69152) for expenditure in the current fiscal year. The remaining <br />$58,700 (10%) will be budgeted and included in the FY 2022-23 annual budget. <br />The total estimated development impact fees to be deferred for the project is estimated <br />to be $510,000 as follows: <br />Accounting Unit <br />– Account #Fund Description Accounting Unit, <br />Account Description Amount <br />31213002-53300 Residential <br />Development District 2 <br />District Park A & D <br />Fees $377,400 <br />12015002-53700 Fire Facilities Fund Improvement Fee $81,600 <br />99117002-50301 Transportation System <br />Improvement Authority <br />TSIA from City of Santa <br />Ana $51,000 <br />TOTAL $510,000 <br />The final fee amount to be deferred will be calculated at the time of the final inspection or <br />issuance of a certificate of occupancy for the project, whichever comes first. There is no <br />negative fiscal impact as the deferred amount will be paid back to the City. However, it <br />should be noted that the FY 21-22 deferred amount may be received in FY 22-23. <br />Fiscal Impact Verified By: Kathryn Downs, CPA, Executive Director – Finance and <br />Management Services Agency <br />EXHIBITS <br />1. Staff Report from January 15, 2019 <br />2. Pre-Loan Commitment Letter <br />3. Keyser Marston Associates, Inc. Financial Gap Analysis <br />4. Housing Successor Agency Loan Agreement <br />5. 99-Year Ground Lease <br />6. Density Bonus Agreement