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Quarterly Report for Housing Division <br />February 6, 2018 <br />Page 6 <br />Tiny Tim Plaza (2223 West 5th Street) <br />• Developer: <br />Community Development Partners. <br />• Description: <br />New construction of an affordable multifamily apartment complex consisting of 51 <br />units of rental housing serving very -low and extremely -low income families, and 1 <br />manager's unit. <br />• City Funds: <br />Inclusionary Housing ($1,300,000), Housing Successor Agency ($4,700,000) <br />• Update: <br />CDP is currently pursuing other sources of financing to fill an estimated financial gap <br />of approximately $11.7 million. On January 16, 2018, CDP submitted an application <br />for Affordable Housing and Sustainable Communities grant funds and for Infill <br />Infrastructure Grant Program funds from the California Department of Housing and <br />Community Development. If successful, CDP will apply for 4% over-the-counter <br />Low Income Housing Tax Credits. <br />STRATEGIC PLAN ALIGNMENT <br />The activities covered by this report allow the City to meet Goal # 5 - Community Health, <br />Livability, Engagement & Sustainability, Objective # 3 (Facilitate diverse housing opportunities <br />and support efforts to preserve and improve the livability of Santa Ana neighborhoods). <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />Robert M. Zur Schmi d <br />Interim Executive Dir <br />Community Development Agency <br />Exhibits: 1. Available Funds for Affordable Housing Development Projects <br />2. Project Timelines <br />19D-6 <br />