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Discussion on Affordable Housing Development Projects, Approval of City Financial Assistance, <br />and Approval of Appropriation Adjustment <br />June 20, 2017 <br />Page 8 <br />Development Project <br />Housing <br />Successor <br />Agency Funds <br />Inclusionary <br />Housing Funds <br />Santa Ana Arts Collective <br />$2,900,000 <br />First Street Apartments <br />$8,522,740 <br />Tiny Tim Plaza <br />$4,700,000 <br />$1,300,000 <br />Totals <br />$13,222,740 <br />$4,200,000 <br />The housing assistance payments for the Aqua Housing project (31 project based vouchers) are <br />expected to be $355,260 annually. The payments will not commence until the completion of the <br />project and tenant occupation of the units. Funds will be budgeted in future fiscal years in the <br />Housing Choice Voucher Program, Housing Assistance Payment account (no. 13618760-69158) <br />for anticipated expenditure beginning in FY 2019-20. <br />Robert Cortez `f <br />Acting Executive Director <br />Community Development Agency <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />Francisco Gutierrez <br />Executive Director <br />Finance and Management Services Agency <br />Exhibits: 1. Available Funds for Affordable Housing Development Projects <br />2. Restrictions and Uses of Funds <br />3. Development Schedules for Affordable Housing Projects <br />4. KMA Analysis for the Santa Ana Arts Collective <br />5. CSG Advisors Analysis for the Santa Ana Arts Collective <br />6. KMA Analysis for the First Street Apartments <br />7. CSG Advisors Analysis for the First Street Apartments <br />8. CSG Advisors Analysis for Tiny Tim Plaza <br />9. First Street Apartments project pre -loan commitment letter <br />10. Aqua Housing project award letter <br />11. Tiny Tim Plaza project conditional pre -loan commitment letter <br />