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Proposal with AMCAL Multi- Housing, Inc. April 19, 2016 Page 5 $3,469,000) for the City's total loan investment of $4,969,000. In addition, the project had eight (8) Project Based Vouchers. The proposed new project, located at 1440 East First Street, will provide 69 units of affordable workforce housing (Exhibit 3). The residential units will be located within six buildings. The rental units are 100% affordable to family households earning between 30% and 60% of the Area Median Income. The unit mix will consist of six (6) four - bedroom units, twenty -eight (28) three - bedroom units and thirty -five (35) two- bedroom units (one being a manager's unit). Eight (8) of the units will be assisted by the Santa Ana Housing Authority's Project -Based Voucher Program. On -site amenities will include a community room and amenity space including tot lots /play areas for children; outdoor seating, BBQs, a flex play space and planters. The community room will be incorporated into the development, providing a computer laboratory, kitchen, activity room for resident activities, and office space for property management and social services staff. The design of the units and the on -site amenities will reflect innovative standards that promote long- term viability for working families. AMCAL will engage the non - profit organization LifeSTEPS to provide free on -site social services to project tenants. Services will be provided in the form of classes and workshops with the subject matter tailored by a social service coordinator to the specific needs of the community. Some example class topics may include: 1) Computer skills; 2) English as a Second Language (ESL); 3) Exercise and Dance for All Ages and Abilities; and 4) Job Search Workshops. The proposed unit mix and rent restrictions are as follows: i ne manager's i wo- dearoom unit is not incmaea The City of Santa Ana's funding source would be the in -lieu fee payment from the Heritage Village OC, LLC that would be deposited into the Inclusionary Housing Fund that will be provided by means of a 55 -year City loan carrying a 3 percent interest rate and payable by residual receipts. The loan agreements for these funds will be approved by City Council prior to execution and when the Inclusionary Housing Funds become available after receiving the in -lieu fee payment, cash or cash equivalent from the Heritage Village OC, LLC Inclusionary Housing Agreement. STRATEGIC PLAN ALIGNMENT The activities covered by this report allow the City to meet Goal # 5 (Community Health, Livability, Engagement & Sustainability) Objective # 3 (Facilitate diverse housing opportunities and support efforts to preserve and improve the livability of Santa Ana neighborhoods) Strategy A (Continue to explore options citywide regarding the re -use of commercial or industrial buildings that are currently underutilized or vacant for mixed -use residential projects) and Strategy C (Provide that Santa Ana residents, employees, artists and veterans receive priority for affordable 65A -5 30 %AMI 35% AM 40% AMI 45% AM] 50% AMI 60% AMI Unit Size No. Units Proposed No. Units Proposed No. Units Proposed Proposed Proposed Proposed Total Rent Rent Rent No. Units Rent No. Units Rent No. Units Rent Two 3 $ 554 6 $ 659 7 $ 765 7 $ 870 7 $ 976 4 $ 1,187 34 Bedroom Three 3 $ 615 1 $ 737 - -- — -- -- - -- -- 24 $ 1,346 28 Bedroom Four 1 $ 687 — — - __ — — -- _- 5 $ 1,502 6 Bedroom Total 7 7 7 7 7 1 33 1 68 i ne manager's i wo- dearoom unit is not incmaea The City of Santa Ana's funding source would be the in -lieu fee payment from the Heritage Village OC, LLC that would be deposited into the Inclusionary Housing Fund that will be provided by means of a 55 -year City loan carrying a 3 percent interest rate and payable by residual receipts. The loan agreements for these funds will be approved by City Council prior to execution and when the Inclusionary Housing Funds become available after receiving the in -lieu fee payment, cash or cash equivalent from the Heritage Village OC, LLC Inclusionary Housing Agreement. STRATEGIC PLAN ALIGNMENT The activities covered by this report allow the City to meet Goal # 5 (Community Health, Livability, Engagement & Sustainability) Objective # 3 (Facilitate diverse housing opportunities and support efforts to preserve and improve the livability of Santa Ana neighborhoods) Strategy A (Continue to explore options citywide regarding the re -use of commercial or industrial buildings that are currently underutilized or vacant for mixed -use residential projects) and Strategy C (Provide that Santa Ana residents, employees, artists and veterans receive priority for affordable 65A -5