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unanimous approval from the Planning Commission and City Council. We also know <br />that First Street Apartments was approved by the City Council as a companion project <br />of the Heritage to meet the requirements of the Housing Opportunity Ordinance. As a <br />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 $$.795 <br />million ($2.6 million from The Heritage and $6.195 million from the City) is needed to <br />make the tax credit application competitive for an award, similar to past projects funded <br />by the City. <br />Without the necessary funding from the City of Santa Ana, First Street <br />Apartments cannot go forward. <br />First Street Apartments are also part of a key revitalization effort to develop residential <br />uses along the First Street corridor — an important gateway for the City of Santa Ana. <br />Our local residents deserve to be a part of this gateway and not be priced out by market <br />rate projects in our City. Our residents can't afford to live in the newer market rate <br />housing developed in Santa Ana. For example, at Nineteen 01, a luxury apartment <br />community located down the street from First Street Apartments, the rent for a two <br />bedroom apartment ranges from $2,700 to $4,100 per month, which is disheartening <br />because none of our families can even come close to afford it. <br />AMCAL's proposal will provide greatly needed, high quality housing that is needed at <br />this point in time and we ask for you to act now in support of this important <br />development. <br />Please do not hesitate to contact me with any questions. <br />Sincerely, <br />r J <br />Nora Mendez <br />Executive Director <br />