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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 /> <br /> <br />Housing <br />Inclusionary <br /> <br />Development Project Successor <br />Housing Funds <br /> <br />Agency Funds <br /> <br />Santa Ana Arts Collective $2,900,000 <br /> <br />First Street Apartments $8,522,740 <br /> <br />Tiny Tim Plaza $4,700,000 $1,300,000 <br /> <br /> Totals $13,222,740 $4,200,000 <br /> <br /> <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 /> <br /> <br /> APPROVED AS TO FUNDS AND ACCOUNTS: <br /> <br />________________________________ __________________________________ <br />Robert Cortez Francisco Gutierrez <br />Acting Executive Director Executive Director <br />Community Development Agency Finance and Management Services Agency <br /> <br /> <br /> <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 /> <br />