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Exhibit 3 <br />Available Funds for Affordable Housing Development Projects <br />As of February 14, 2017 <br />Housing Successor Agency (Housing Authority) <br />$10,378,674 Cash on Hand <br />$4,218,690 Deposit of ROPS 2nd Installment for FY 16/17 <br />($6,195,000) Proposed AMCAL Housing Successor Agency Loan Agreement (2/21 City Council) <br />($789,853) Reconciling amount (ROPS Projects) <br />($338,564) Habitat for Humanity Disposition and Development Agreement <br />TBD Administrative Costs Allowance 2 <br />$7,273,946 Available Funds <br />Inclusionary Housing Funds <br />$5,877,690 Cash on Hand <br />$2,600,000 Anticipated HOO funds from Heritage Village OC LLC in 2017 <br />($2,600,000) Proposed AMCAL Conditional Inclusionary Housing Funds Loan Agreement 4 <br />($2,061,503) Santa Ana Arts Collective Pre -Commitment Loan & Associated Project Costs <br />($36,896) Administrative Costs Allowance (CDA/PBA) <br />$3,779,291 Available Funds <br />HOME Program <br />$2,931,129 Funds to Drawdown <br />($2,260,000) Santa Ana Arts Collective Pre -Commitment Loan <br />($332,778) Community Housing Development Organizations (CHDO) Set -Aside <br />$338,351 Available Funds to Drawdown <br />CDBG Program (Acquisition/Rehabilitation Projects Only) <br />$1,140,000 Funds to Drawdown <br />($500,000) Santa Ana Arts Collective Pre -Commitment Loan <br />$640,000 Available Funds to Drawdown <br />' Educational Revenue Augmentation Fund (ERAF) / Supplemental Educational Revenue Augmentation Fund (SERAF) repayment approved by Department of Finance via <br />the Recognized Obligation Payment Schedule (HOPS). Future repayment schedule of remaining loan balance to be determined pursuant to Dissolution Laws. <br />° The Housing Successor Agency relies on available cash to fund the monitoring and compliance functions related to the former Redevelopment Agency's housing loans. <br />s Housing Opportunity Ordinance (HOO) <br />° In -lieu fees anticipated to be received from the Heritage Village OC in FY 2016/17. <br />Pre -loan amount is $1,876,000. <br />The $332,778 includes funds correctly available as noted In the February 7, 2017 City Council Agenda item 250. An additional $171,771.80 is estimated in future funding. <br />° All unencumbered funds at fiscal year end are expected to be rolled over to the Unappropriated Balance for CDBG Capital Projects in FY 17/18. <br />1913-11 <br />