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Quarterly Report for Housing Division <br />February 2, 2021 <br />Page 4 <br />3 <br />8 <br />8 <br />Available Funds and Land Assets for Affordable Housing Development Projects <br />The City of Santa Ana and the Housing Authority acting as the Housing Successor <br />Agency manages multiple sources of local, state and federal funds to promote and <br />facilitate the development of affordable housing as well as land assets held by the <br />Housing Authority. Exhibit 1 provides a summary of the funds available as of December <br />31, 2021. Exhibit 2 provides a summary of available land assets. <br />Housing Opportunity Ordinance <br />On-Site Development: <br />Since 2011, a total of 33 units have been developed on-site as a result of the Ordinance, <br />including 23 ownership units for-sale and 10 rental units: <br />Units Built On-Site <br />Ownership Rental Total <br />23 10 33 <br />Regulatory agreements have been signed with two market rate developments that will <br />build 30 additional rental units on-site affordable to very-low income households. <br />In-Lieu Fees Generated: <br />All in-lieu fees, penalties and other monies collected pursuant to the Housing Opportunity <br />Ordinance, including interest, are deposited into the Inclusionary Housing Fund. Since <br />inception, the Inclusionary Housing Fund has generated $21,510,125 to be used for the <br />development of housing affordable to low- and moderate-income households, with a <br />reasonable amount spent on administrative or related expenses associated with the <br />administration of the Housing Opportunity Ordinance. These fees were generated from a <br />total of 13 projects that opted to pay the in-lieu fee instead of building units on-site. If <br />those 13 projects had instead built the inclusionary housing units on-site, a total of 500 <br />affordable housing units would have been created. <br />In-lieu fees generated have been used to develop new affordable housing opportunities, <br />provide emergency shelter, and create homeownership opportunities. Below is a <br />summary of how in-lieu fees have been used by the City: <br />Project Inclusionary Housing <br />Funds Spent # of Units Address <br />Santa Ana Arts <br />Collective $4,775,000 57 1666 N. Main Street <br />Tiny Tim Plaza $1,300,000 50 2239 West 5th Street <br />The Link Interim <br />Emergency Shelter $4,140,295 N/A 2320 S Redhill <br />Avenue <br />TOTAL $10,215,295 107