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AFFORDABLE, HOUSING Cl learinghouseA network of lenders, community groups, and public agencies dedicated to the creation of quality affordable housing David Levy, President I Fair Housing Council Gary Dunn, Vice President February 3, 2017 Banc of California C Mayor Miguel Pulido and Members of the City Council Elsa Monte, Secretary City of Santa Ana Pacific Western Bank 20 Civic Center Plaza Kandy Hung, Treasurer P.O. Box 1988, M31 East West Bank Santa Ana, CA 92701 Douglas Systry SUBJECT: First Street Apartments - 1440 E. First Street Santa Ana, CA 92701 Clearinghouse wri City Council Item 80A, February 7, 2017 Matthew Gediman US Bank Dear Mayor Pulido and Members of the City Council: Larry Christian The Affordable Housing Clearinghouse (AHC) is well aware of AMCAI-'s affordable housing proposal Old Bepu4ficriUa t located on First Street in the City of Santa Ana. We are writing to express our strong support for this type of housing which is needed now more than ever. AHC was formed in 1990 to facilitate Ray Nayr AOF Pacific Affordable Housing lending for affordable housing. It was formed by the Orange County Community Reinvestment Act Coalition, a cooperative network of community organizations, non-profit housing corporations, Alan Woo j public agencies, non-profit housing shelters, and advocates for lower income people. This Coalition Member at Large included the Orange County Human Relations Commission, the Fair Housing Council of Orange County, and the Orange County Homeless Issues Task Force, Today, AHC is a premier community Sandra speed lender, homebuyer education and affordable housing provider in Southern California, and we work Wells Fargogo Bank with cities, counties, and non-profit organizations to promote homeownership. We are also well Gerald D. Turner aware of the tremendous need for quality affordable housing in Santa Ana. Heal Collective The housing affordability crisis in Santa Ana is increasing each year, Including home purchase prices Brenda J. Rodriguez and apartment rents that our residents can't afford. Skyrocketing rents and home prices are Executive Director forcing our families to live in overcrowded housing and substandard housing conditions. Our families are extremely rent burdened, as most of their limited income (over half) is used to pay for housing costs. We support Al proposal for several reasons: Given the housing crises, we need affordable housing to be developed immediately, and First Street is approved and ready to move forward. The rental units are 100% affordable to households earning 30% and 60% of Area's Median Income, and half of the project provides three and four bedroom units designed for larger families— a great need and almost non-existent in the Santa Ana housing market. I j After two years of work, the First Street Apartments project is almost a shovel ready project and prepared to apply for the tax credit financing next month to break ground this year. We know that AMCAL's proposal was approved last year by the City with unanimous approval from the Planning Commission and City Council. We also know that First Street Apartments was approved by the City Council as a companion project of the Heritage to meet the requirements of the Housing 23861 EI Taro Road, suite bot Opportunity Ordinance. As a result of The Heritage receiving recent approval to pay the in -lieu Lake Forest, CA 92630 (949) 859-9255 FAX (949) 859-8534 Established 1991 www.at%rdable-housing.org Celebrating over 25 Years of Community Investment