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Item 28 - Housing Ad Hoc Committee Progress Report Regarding The Housing Opportunity Ordinance
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Item 28 - Housing Ad Hoc Committee Progress Report Regarding The Housing Opportunity Ordinance
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Agenda Packet
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Clerk of the Council
Item #
28
Date
7/6/2021
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SUMMARY TABLE <br />OWNERSHIP HOUSING DEVELOPMENT <br />HOO: IN-LIEU FEE ANALYSIS <br />SANTA ANA, CALIFORNIA <br />MARKET RATE <br />ALTERNATIVE MODERATE INCOME <br />I.Project Description <br />A.Site Area (Sf)43,560 43,560 <br />B.Total Units 36 36 <br />C.Density (Units/Acre)36 36 <br />D.Total Units: (Five-Bedroom Units)0 0 <br />E.Gross Building Area (Sf)68,707 68,707 <br />F.Number of Parking Spaces Provided 128 128 <br />II.Development Costs <br />A.Property Acquisition Costs $2,614,000 $2,614,000 <br />Per Square Foot of Land Area $60 $60 <br />B.Direct Costs $14,423,000 $14,423,000 <br />Per Square Foot of GBA $210 $210 <br />C.Indirect + Financing Costs $5,417,000 $5,343,000 <br />As a % of Direct Costs 38%37% <br />Total Development Costs $22,454,000 $22,380,000 <br />Per Unit $624,000 $622,000 <br />III.Net Revenue $24,357,000 $23,551,000 <br />IV.Developer Profit $1,903,000 $1,171,000 <br />As a % of Total Development Cost 8.5%5.2% <br />V.10% <br />VI.In-Lieu Fee Per Square Foot of Saleable Area $13.00 <br />Supportable Inclusionary Housing Requirements <br />Prepared by: Keyser Marston Associates <br />File name: 6 24 21 SA HOO Own; Own Sum Page 2 of 8
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