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RFP Affordable Housing <br />May 19, 2015 <br />Page 2 <br />$830,000 in HOME Program funds, with priority for CHDO projects, that must be <br />committed by July 31 2016 <br />- $830,000 in HOME Program funds that must be committed by July 31 2017, subject to <br />change based on the City's annual HUD allocation and program income <br />Based on the new HOME rules, HOME commitments cannot occur until all other financing for the <br />project has been fully committed. Due to this change in HOME rules, the City will be soliciting for <br />future commitments of HOME funds, including Community Housing Development Organizations <br />(CHDO) funds. <br />The selected developer(s) will be responsible for contributing additional funds as may be <br />necessary, for securing the land and constructing the Improvements, as well as be responsible for <br />lease -up and operation of the projects. <br />The RFP is scheduled for release on June 1, 2015 with first round proposals due August 21, <br />2015, and second round proposals for any remaining funds tentatively due November 2, 2015. <br />The second round of proposals will provide time for developers to assemble their project's <br />financing as City funds are available after the first round of proposals. In addition, the Successor <br />Housing Authority of the former Redevelopment Agency of the City of Santa Ana ( "Successor <br />Housing Authority") anticipates releasing a Request for Proposals over the summer for several <br />sites owned by the Successor Housing Authority. The second round of proposals will also allow <br />time for developers to respond to both housing RFPs. <br />Notices of funding availability will be placed on the City's website, published in a general <br />circulation newspaper, and directly emailed to local housing developers who have previously <br />shown an interest in housing development projects. Following review of the proposals received, <br />the recommendations will be submitted for City Council's final approval. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #5 Community Health, Livability, <br />Engagement and Sustainability, Objective #3, (facilitate diverse housing opportunities and <br />support efforts to preserve and improve the livability of Santa Ana neighborhoods). <br />FISCAL I PACT <br />There is no fiscal Impact associated with this action. <br />19E -2 <br />