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from the Planning Commission and City Council, We also know that First Street Apartments was <br />approved by the City Council as a companion project of the Heritage project to meet the <br />requirements of the Housing Opportunity Ordinance, <br />As a result of The Heritage receiving recent approval to pay the in-lieu fees in phases, First <br />Street Apartments needs the funding requested today. The City funding of $8.795 million ($2.6 <br />million from The Heritage and $6.195 million from the City) is needed to make the tax credit <br />application competitive for an award, similar to past projects funded by the City. Without the <br />necessary funding from the City of Santa Ana, First Street Apartments cannot go forward. <br />First Street Apartments are also part of a key revitalization effort to develop residential uses <br />along the First Street corridor - an important gateway for the City of Santa Ana. Our local <br />residents deserve to be a part of this gateway and not be priced out by market rate projects in our <br />City. Our residents cannot afford to live in the newer market rate housing developed in Santa <br />Ana. For example, at Nineteen 01, a luxury apartment community located down the street from <br />First Street Apartments, the rent for a two-bedroom apartment ranges from $2,700 to $4,100 per <br />month, which is disheartening because none of our families can even come close to affording it. <br />AMCAL's proposal will provide greatly needed, high quality housing and T ask for you to act <br />now in support of this important development, <br />Please do not hesitate to contact me with any questions. <br />Sincerely, <br />(jenn Rios CE <br />D-ee hi Cente <br />