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EXHIBIT 3 <br /> <br />Page 1 of 4 <br /> <br />Current Affordable Housing Development Project Timelines <br /> <br />Projects Completed <br /> <br />La Placita Cinco – 2223 W. 5th Street <br />Dec 16 Developer submitted request for funds to CDA <br />Jun 17 Awarded City and Housing Successor Agency Funds <br />Jan 18 Planning entitlements approved <br />Jul 18 Submittal of 9% Low-Income Housing Tax Credit Application <br />Oct 18 Award of 9% Low-Income Housing Tax Credits <br />May 19 Close of Escrow <br />Jun 19 Construction initiated <br />Jun 21 Construction completion <br /> <br />Projects Under Construction <br /> <br />Legacy Square – 609 North Spurgeon Street <br /> <br />Aug 18 Santa Ana CDA Funding Application <br />Dec 18 Applied for NPLH and SNHP Funds <br />Jan 19 Santa Ana funding award <br />Feb 19 Planning entitlements approved <br />Feb 19 Applied for Round 4 AHSC Funding <br />May 19 Award of SNHP funds <br />Jul 19 Applied for Round 1 MHP <br />Nov 19 Applied for State 4% tax credits <br />Jan 20 Construction drawings (8-12 weeks) <br />Feb 20 Apply for Round 5 AHSC funding <br />May 20 Apply for 4% tax credits <br />May 20 Plan check (12-16 weeks) <br />Jun 20 Award of AHSC funds <br />July 20 Award of 4% Tax Credits <br />July 20 Award of Tax-Exempt Bonds <br />May 20 Plan Check (12-16 weeks) <br />Jan 21 Building permit issuance <br />Feb 21 Construction closing/syndication <br />Feb 21 Begin construction (24 months) <br />Jul 21 Groundbreaking Ceremony <br />Feb 23 Construction complete <br />June 23 100% fully leased (2 months) <br /> <br />North Harbor Village – 1108 N. Harbor <br /> <br />Mar 19 Start of design development <br />Mar 19 Applied to FHLBSF for AHP Financing ($890,000) <br />Mar 19 Award of VASH Vouchers & City Loan by City Council (89 Vouchers and <br />$1,687,047)