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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />APRIL 19, 2016 <br />TITLE: <br />PROPOSAL WITH AMCAL MULTI- <br />HOUSING, INC. FOR THE AWARD OF <br />INCLUSIONARY HOUSING IN -LIEU FEES <br />FOR THE FIRST STREET APARTMENTS <br />PROJECT AND AUTHORIZE THE <br />DRAFTING OF A CONDITIONAL LOAN <br />COMMITMENT LETTER <br />{STRATEGIC PLAN NO. 5, 3A & 3C} <br />CITY MANA ER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 1" Reading <br />❑ Ordinance on 2ntl Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />Consideration of a staff proposal with AMCAL Multi- Housing, Inc. for the award of inclusionary <br />housing in -lieu fees for the First Street Apartments project located at 1440 East First Street in Santa <br />Ana and approve a conditional loan commitment letter in an amount up to $8,900,000.00 that will be <br />contingent on the City's actual receipt of in -lieu fee payments of $9,695,725.60, or a portion <br />thereof, or a cash equivalent to the in -lieu fee payments from Heritage Village OC, LLC. <br />DISCUSSION <br />On February 2, 2016, the City Council directed the City Manager "to lead discussions with the <br />developer, AMCAL Multi- Housing, Inc., on a proposal for City Council consideration as to the <br />affordable housing project to receive the inclusionary housing in -lieu fees" from the Heritage <br />Village OC, LLC mixed -use development project. <br />Under Sec. 41- 1904(c)(3) of the City of Santa Ana Housing Opportunity Ordinance, a Developer <br />shall pay any in -lieu fees in full before issuance of the first building permit for any portion of a <br />residential project, including any non - residential portions of a mixed -use development. The <br />Developer may provide input regarding what project the in -lieu fees should be applied towards. <br />The in -lieu fees collected by the City are City funds over which the City has complete and <br />absolute discretion. <br />City staff anticipates executing an Inclusionary Housing Agreement with Heritage Village OC, <br />LLC for the Heritage Apartments for $9,695,725.60 of in -lieu fees, or a portion thereof, to be <br />received from the owner before issuance of the first building permit for the project. As stipulated <br />in the Housing Opportunity Ordinance, Heritage Village OC, LLC may provide input regarding <br />65A -1 <br />