Item 07 - 2024 General Plan Annual Progress Report

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Attachment B Name of Program Objective Timeframe in KE Status of Program Implementation Throughout 2024, the City continued to support development of affordable housing through various funding, including LMIHAF, Inclusionary Housing Fund, HOME, CDBG, PBV, and HOME -ARP. As of December 31, 2024, two projects are under construction and three are in pre -development, all funded by the City: - The Habitat for Humanity (1921 W. Washington Ave.) project, funded by Inclusionary A. Provide financial assistance to support Housing ($2,200,000), involves new construction of six single-family homes for 80% the acquisition, rehabilitation, and new AMI households. construction of properties to preserve and - FX Residences (801, 807, 809, and 809 Y2 E. Santa Ana Blvd.), funded by the increase affordable housing opportunities Housing Successor Agency ($1,656,947), three PBVs, and a 99-year ground lease is a for lower income households through the 16-unit permanent supportive housing project expected to be completed by January following programs: (1) Low and Moderate 2025. 2. Multiple -Family Income Housing Asset Fund (LMIHAF) - Habitat for Humanity's 621 W. Alton Ave. project (in pre -development), will convert a Acquisition and including land assets owned by the Housing Ongoing religious -owned building into 40 townhomes for low- and moderate -income households, Rehabilitation Successor Agency; (2) Inclusionary with $9,807,571 in HOME funds. Housing Fund (Inclusionary); (3) HOME - Habitat for Humanity's 425 E. Wellington Ave. project will convert a 9-unit rental Investment Partnerships Program (HOME); property into affordable ownership units, with $920,000 in Inclusionary Housing funds (4) Community Development Block Grant allocated for down payment assistance. Program (CDBG); (5) Project -Based - Richard Lehn Intergenerational Housing (918 N. Bewley St.), funded by HHAP Voucher Program (PBV); and (6) HOME- ($2,021,319) and eight PBVs, will rehabilitate two buildings into 11 permanent American Rescue Plan (HOME -ARP). supportive housing units for homeless transitional -age youth and seniors. - In addition, on July 16, 2024, the City approved an amended and restated regulatory agreement with the Orange Housing Development Corporation (OHDC) to support the conversion of 42 market -rate units into affordable housing for families earning up to 80% of the Area Median Income (AMI), while increasing affordability for 41 existing affordable units to 60% AMI.