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Quarterly Report Housing Division <br />Projects and Activities April — June 2016 <br />August 16, 2016 <br />Page 5 <br />First Street Apartments (New 69 -Unit Affordable Rental Housing Development) <br />On April 19, 2016, City Council approved an award of inclusionary housing in -lieu fees to the <br />Developer, AMCAL Multi- Housing LLC, for the First Street Apartments project and approved a <br />conditional loan commitment letter of $8,900,000 that will be contingent on the City's actual <br />receipt of in -lieu fee payments of $9,695,725.60, or a portion thereof, or a cash equivalent to the <br />in -lieu fee payments from the Heritage Village OC, LLC. <br />STRATEGIC PLAN ALIGNMENT <br />The activities covered by this report allow the City to meet Goal #5 (Community Health, Livability, <br />Engagement & Sustainability) Objective #3 (Facilitate diverse housing opportunities and support <br />efforts to preserve and improve the livability of Santa Ana neighborhoods). <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />Robert C. Corte <br />Special Assistant - the- City-Manager <br />City Manager's Office <br />JB /RL <br />19F -5 <br />