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Resolution — AHSC Program Application December 19, 2017 Page 2 "Developer") is not to exceed $7,500,000, of which up to $5,000,000 is requested as a loan for the affordable housing development (AHSC Loan) and up to $2,500,000 is requested for a grant for Housing-Related Infrastructure (HRI), Sustainable Transportation Infrastructure (STI), Transit- Related Amenities (TRA) or Program (PGM) activities (AHSC Grant). The Tiny Tim Apartments project is a 51-unit new construction affordable housing development at 2223 W. Fifth Street in Santa Ana targeting low-income families making 30% to 60% Area Median Income (Project). The AHSC Grant will be for the Developer's STI and TRA portion of the Project, which is a bicycle boulevard treatment along Fifth Street between the Santa Ana River Trail and Raiff Street. The Resolution supports the submission of an application forfunding under the AHSC Program (Exhibit 1). Furthermore, if the Project is awarded funding from the State of California for the AHSC Grant staff will recommend to City Council to enter into a contract with Community Development Partners to utilize the grant funds to construct the transportation related infrastructure for the Project, subject to non-substantive changes approved by the City Manager and City Attorney. The Project proposal is consistent with the goals set forth in the Southern California Association of Governments' 2012-2035 Regional Transportation Plan/Sustainable Communities Strategy, which places great importance on sustainable and smart growth, as well as the interconnectivity of land use and transportation planning. On June 20, 2017, the City Council awarded a pre-loan commitment to the Developer of Inclusionary Housing Funds not to exceed $1,300,000 and Housing Successor Agency Funds not to exceed $4,700,000. The Tiny Tim Apartments project was approved by the Planning Commission on November 27, 2017. On December 19, 2017, the City Council will be asked to receive and file the Planning Commission's approval. Contingent on the award of funds, the resolution authorizes the City Manager to enter into a contract with the Developer to utilize those AHSC Grant funds in an amount up to $2,500,000 to develop the Transportation Related Infrastructure component of the Project. STRATEGIC PLAN ALIGNMENT Approval of this item assists the City in meeting Goal # 5 - Community Health, Livability, Engagement & Sustainability, Objective # 3 (Facilitate diverse housing opportunities and support efforts to preserve and improve the livability of Santa Ana neighborhoods) and Objective # 6 (Focus projects and programs on improving the health and wellness of all residents). FISCAL IMPACT There is no fiscal impact associated with this action. Obert M. Zur ch i Interim Executi irector Community Development Agency Exhibit: Resolution 55D-2