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GPA No. 2016 -02, AA No. 2016 -02 & TTM No. 2016 -02 — First & Pacific Townhome Project at <br />1506 -1548 West First Street <br />May 17, 2016 <br />Page 3 <br />The applicant is proposing to satisfy the HOO by providing a combination of on -site inclusionary <br />units and the fractional unit payment of an in -lieu fee. In the case of this project, the applicant <br />must provide 9.3 for -sale units (15 percent of 62 total units) meeting the affordability guidelines <br />for Moderate income. The applicant intends to provide nine affordable units and pay an in -lieu <br />fee for the remainder 0.3 unit, which equates to approximately $2.4,450. The applicant has <br />submitted both an Inclusionary Housing Plan (that has been approved by the Community <br />Development Agency) and an Inclusionary Housing Agreement for approval by the City Council, <br />with the Inclusionary Housing Agreement to be recorded against the property (Exhibits C and D). <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item supports the City's efforts to meet Goal #3 - Economic Development, <br />Objectives #2 (create new opportunities for business /job growth and encourage private <br />development through new General Plan and Zoning Ordinance policies), Objective #5 (leverage <br />private investment that results in tax base expansion and job creation citywide); Goal #5 - <br />Community Health, Livability, Engagement & Sustainability, Objective #3 (facilitate diverse <br />housing opportunities and support efforts to preserve and improve the livability of Santa Ana <br />neighborhoods), and Objective #4 (support neighborhood vitality and livability). <br />FISCAL IMPACT <br />If the developer is issued permits to proceed with the project, payment of the in -lieu fees will be <br />paid at that time and this will likely occur in FY 16117. Upon receipt, the estimated fees in the <br />amount of $24,450 will be deposited into the Inclusionary Housing Fund revenue account (No. <br />41718002 - 57896). <br />Hassan Ha an - ICP <br />Executive Director <br />Planning & Building Agency <br />Robert Cortez <br />Special Assistant to the City Manager <br />City Manager's Office <br />VF:rb vAreports \GPA16- 02AA16- 02TM16- 02 01son Companym <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />C CC�Y� y d%,, 4 <br />Francisco Gutierrez 5'1 <br />Executive Director <br />T,n e & Manageml eent Services Agency <br />Fred Mousavipour <br />Executive Director <br />Public Works Agency <br />Exhibit: A. Planning Commission Staff Report <br />B. Map of Proposed Vacation <br />C. Inclusionary Housing Plan <br />D. Inclusionary Housing Agreement <br />E. Resolution <br />F. Ordinance <br />75A -3 <br />