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Addendum to the FY 2023-24 RFP for Affordable Homeownership Opportunities <br />February 20, 2024 <br />Page 3 <br />homeownership opportunities through this RFP. Specifically, four (4) separate City - <br />owned sites (see Attachments 1 through 3 of Exhibit 2) are being included in the <br />Addendum. These four (4) sites would be solely for the development of affordable <br />home ownership. <br />This Addendum not only provides development opportunities for affordable <br />homeownership, but recognizes the need for flexibility and adaptability to address Santa <br />Ana's diverse housing needs. Staff recommends issuing the attached addendum to <br />RFP # 23-156 (Exhibit 2). The proposed addendum includes the following major <br />changes: <br />• Expands the eligibility criteria to allow rental affordable housing opportunities <br />while maintaining the City's interest in affordable homeownership opportunities <br />(Attachments 1 through 3 of Exhibit 2). <br />• Adds five (5) target areas for potential developers to focus their efforts where the <br />City has invested significant public resources in the past, and where the City <br />would like to see additional resources targeted in the future. The five (5) areas <br />are as follows: 1st Street Hotel Conversion (Attachment 4 of Exhibit 2), <br />Cornerstone Village (Attachment 5 of Exhibit 2), Townsend-Raitt (Attachment 6 <br />of Exhibit 2), Cedar -Evergreen (Attachment 7 of Exhibit 2), and 1900-2000 West <br />Myrtle Street (Attachment 8 of Exhibit 2). <br />Revises the text throughout the RFP to allow for rental affordable housing <br />opportunities. <br />Increases the amount of funding available from $7.8 million to $8.35 million. <br />This Addendum aims to encourage a broader range of proposals to address the diverse <br />housing requirements within the City of Santa Ana. If approved by City Council, the <br />addendum will enhance the RFP's effectiveness in soliciting proposals that align with <br />the City's overarching goal of providing affordable and diverse housing options. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />EXHIBIT(S) <br />1. Staff Report from October 17, 2023 <br />2. Addendum to RFP # 23-156 <br />Submitted By: Michael L. Garcia, Executive Director of Community Development <br />Approved By: Tom Hatch, Interim City Manager <br />