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65A -AFFORDABLE HOUSING DEVELOPMENT PROJECTS AND OPTIONS
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06/01/2017
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65A -AFFORDABLE HOUSING DEVELOPMENT PROJECTS AND OPTIONS
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Last modified
6/1/2017 8:36:35 AM
Creation date
5/31/2017 12:34:24 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
65A
Date
6/1/2017
Destruction Year
2022
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Exhibit 1 <br />Available Funds for Affordable Housing Development Projects <br />As of March 31, 2017 <br />Housing Successor Agency (Housing Authority) <br />$14,602,716 Cash on Hand <br />($789,853) Reconciling amount (ROPS Projects) <br />($338,032) Habitat for Humanity Disposition and Development Agreement <br />($250,000) Administrative Costs Allowance 1 <br />$13,224,831 Available Funds <br />Inclusionary Housing Funds <br />$6,625,980 Cash on Hand 2 <br />($2,061,381) Santa Ana Arts Collective Pre -Commitment Loan & Associated Project Costs 3 <br />($98,594) Administrative Costs Allowance (CDA/PBA) <br />$4,466,005 Available Funds (*Excludes $9,695,725.60 anticipated from Heritage Village) <br />HOME Program <br />$2,923,410 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 />$330,632 Available Funds to Drawdown <br />CDBG Program (Acquisition/Rehabilitation Projects Only) 5 <br />$1,140,000 Funds to Drawdown <br />($500,000) Santa Ana Arts Collective Pre -Commitment Loan <br />$640,000 Available Funds to Drawdown <br />$ 18,661,468 Total Available Funds <br />The Housing Successor Agency relies on available cash to fund the monitoring and compliance functions related to the former Redevelopment Agencys housing loans. <br />Includes $757,600 payment from the Venoms Walk project (1506 W. let Street) received in March 2017. <br />a Pre -loan amount is $1,875,000, <br />The $332,778 includes funds currently available as noted in the February 7, 2017 City Council Agenda item 25C. An additional $171,771.60 is estimated in future funding. <br />s 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 />65A-7 <br />
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