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Exhibit 2 <br />INTRODUCTION <br />C&C Development Co., LLC (Owner) has authorized the preparation of a Relocation Plan to be <br />undertaken in connection with planning for the proposed rehabilitation of rental housing units <br />located at 300 E. Santa Ana Boulevard, Santa Ana, CA 92701 (Project site) known as Garden <br />Court (Project). The Owner plans to rehabilitate 84 units, including both the building exterior and <br />unit interiors. <br />Improvements will include: <br />Interior <br />New cabinets <br />New countertops <br />New interior lighting <br />New HVAC equipment <br />New doors and frames <br />Replace Appliances <br />Drywall repairs <br />New flooring throughout <br />Repaint interiors <br />Exterior <br />Replace building lighting <br />Replace landscaping <br />Replace playground equipment <br />Stucco repairs <br />New paint <br />Roofing <br />New windows <br />New decking <br />The Project consists of 84 total units: 24 one -bedroom units and 60 two -bedroom units. It is <br />anticipated that nine units will be at 30% area median income (AMI), nine units will be at 50% <br />AMI, 29 units will be at 60% AMI, and 36 units will be at 70% AMI. The remaining unit will be <br />an unrestricted manager's unit. AMI levels are based on the HUD Income Limits as shown in <br />Exhibit A. There will be no loss of units and bedroom counts will remain the same post - <br />renovations. <br />The building has four quadrants, each with 21 units. The Project construction plan proposes that <br />each quadrant will be rehabilitated by itself, resulting in four phases to the Project. Each quadrant <br />will take approximately six months to complete. <br />To renovate the first quadrant, 15 households will be permanently relocated, and a certain number <br />of households will be moved to other Project units temporarily to clear one quadrant. (There are <br />currently six vacant units). Once that quadrant has been rehabilitated, 21 qualified Project <br />households will be moved directly one-time into a newly renovated Project unit, and this process <br />will continue quadrant by quadrant as renovations are completed. When the final quadrant has <br />been completed, any previously displaced qualified tenants will be offered the first right of refusal <br />to return to a Project unit. <br />The Owner anticipates utilizing financing including Tax -Exempt Bonds, a Seller Carryback Loan, <br />a Deferred Developer Fee, Seller Contribution, Income from Operations, and Limited Partner <br />Equity in the form of Federal Tax Credits. <br />Due to the proposed funding sources, the Relocation Plan and the relocation program described <br />within meets the requirements of California Relocation Assistance Law, Government Code <br />Section 7260, et seq. (Law), and the Relocation Assistance and Real Property Acquisition <br />Guidelines adopted by the Department of Housing and Community Development as in Title 25, <br />California Code of Regulations Section 6000, et seq. (Guidelines). <br />1 <br />