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Housing Division Quarterly Report <br />February 20, 2024 <br />Page 4 <br />4 <br />0 <br />4 <br />0 <br />Table 2: Portfolio Revenue <br />HOME CDBG Redevelopment CalHome <br />Loan Payoffs $68,870.47 $80,000 $31,797.35 $10,866.25 <br />Residual Receipts <br />Payments $420,950.00 $0 $38,146.75 0 <br />Amortized Loan <br />Payments $789.38 $4,852.13 $21,382.14 0 <br />Total for Q2 $490,609.85 $84,852.13 $91,326.24 $10,866.25 <br />Monitoring <br />As part of the requirements for these loans, staff must monitor the owner-occupancy of <br />single-family homes that have received loans, and the building code compliance of units <br />in rental projects with long-term affordability covenants. During this quarter, 48 owner- <br />occupancy recertification letters were mailed and 36 were returned and processed. This <br />number includes letters sent from previous months. Staff also conducted a total of 12 <br />inspections during this quarter. <br />Density Bonus Agreements <br />The California Density Bonus law allows developers proposing five or more residential <br />units to request incentives or concessions in exchange for providing affordable units on <br />site. To help make constructing on-site affordable units feasible, the law allows <br />developers to seek up to three incentives/concessions and an unlimited number of <br />waivers, which are variances from development standards that would help the project <br />be built without significant burden and without detriment to public health. As of the date <br />of this report, the City of Santa Ana has entered into the following Density Bonus <br />Agreements: <br />Date of <br />Agreement Housing Development Address Affordable Units <br />October 2018 Metro East Senior Park 2222 E. First St. <br />415 rental units restricted <br />for very low income and <br />low income or senior <br />tenants <br />August 2018 First Point I & II Apartments 2110, 2114, and 2020 <br />E. First St. <br />547 rental units restricted <br />for very low income and <br />low income tenants <br />February 2019 Legacy Square 609 North Spurgeon St. <br />92 rental units restricted <br />for very low income and <br />low income tenants <br />November 2019 The Rafferty 114 & 117 E. Fifth St. <br />11 rental units restricted <br />for very low income <br />tenants <br />December 2021 FX Residences <br />801, 807, 809, <br />and 809 ½ <br />East Santa Ana Blvd <br />16 permanent supportive <br />housing units <br />June 2022 WISEPlace 1411 N. Broadway 47 permanent supportive <br />housing units <br />August 2022 Brandywine Acquisition <br />Group 1814 & 1818 E. First St. <br />4 townhomes restricted for <br />sale to moderate-income <br />buyers