Item 10 - Fiscal Year 2023-24 Homeownership Initiatives

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EXHIBIT 1 • Page Limit. SOQs must be limited to a maximum of 25 pages, excluding front and back covers, section dividers, and exhibits. 2) Project Description. Detailed and concise narrative describing the proposed project, including at a minimum and as appropriate the development concept for the site or a description (with photographs) of the building to be acquired or developed, proposed building square footage, number of units and bedrooms per unit, total parking spaces, proposed ingress and egress, proposed affordability levels, any special needs groups or target population to be served, and amenities to be provided onsite. If there will be a Homeowner's Association (HOA), describe in detail how the HOA will be managed and provide the name of the proposed Management Company. Please make sure to include the following: • Narrative description of the project and conceptual site plans if available. o Site size and location. o Total gross building area (GBA), as well as a breakdown of: ■ Residential GBA; ■ Circulation/Common Area GBA; and ■ Retail GBA. • Residential unit mix: o Number of units of each bedroom type by affordability level; o Unit square footage by bedroom type; and • Common area amenities to serve the residential development. • List of anticipated retail tenants (if applicable). • Parking: o Total number of spaces proposed: o Number of spaces dedicated to the residential uses; and o Number of spaces dedicated to other uses. o Number and square footage of parking spaces provided by type: ■ Above -ground; ■ Surface; and ■ Subterranean. For all projects, the narrative must also address site control, current zoning and any required zoning changes, anticipated development costs, City funds required, requested City loan terms, developer access to additional funds required for the project, and proof that the property is under contract. A site map showing the project's location should accompany this narrative. 3) Development Pro Forma. Identify the sources and uses of all funds necessary to complete the project. The pro forma should identify important underlying assumptions applicable to the proposed project. The cost estimates in the Sources and Uses budget should assume the payment of Davis - Bacon prevailing wages, compliance with the City's Community Workforce Agreement, and relocation benefits, if applicable. The pro forma must include a calculation of the return on investment to the developer. Please make sure to include the following, if applicable: • Land Costs: o The property assemblage costs should include the following if applicable: acquisition costs, relocation costs, demolition costs, and closing costs. The developer should include an appraisal and the proposed purchase and sale agreement (if available). • Construction Costs: o Identify whether the direct cost estimate reflects a premium for labor requirements, including prevailing wages, Davis -Bacon, and compliance with the City's Community City of Santa Ana Community Development Agency Request for Proposals for Affordable Homeownership Opportunities Page 9