19C - HOUSING DIV PROJECT REPORT

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Quarterly Report for Housing Division May 1, 2018 Page 5 • Update: Community Development Partners (CDP) received an award of Special Needs Housing Program funds from the County of Orange for 9 of the 56 units ($1,310,400). On February 28, 2018, CDP applied for 9% Low Income Housing Tax Credits and is awaiting the award. Tiny Tim Plaza (2223 West 5th Street) • Developer: Community Development Partners • Description: New construction of an affordable multifamily apartment complex consisting of 51 units of rental housing serving very -low and extremely -low income families, and 1 manager's unit. • City Funds: Inclusionary Housing ($1,300,000), Housing Successor Agency ($4,700,000) • Update: CDP is currently pursuing other sources of financing to fill an estimated financial gap of approximately $11.7 million. On January 16, 2018, CDP submitted an application for Affordable Housing and Sustainable Communities grant funds and for Infill Infrastructure Grant Program funds from the California Department of Housing and Community Development. If successful, CDP will apply for 4% over- the-counter Low Income Housing Tax Credits. NSP 1. 2 and 3 Programs The City will make the NSP Program funds available for eligible projects in an upcoming Request for Proposals. STRATEGIC PLAN ALIGNMENT The activities covered by this report allow the City to meet 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). FISCAL IMPACT There is no fiscal impact associated with this action. Judson Brown Acting Executive Director Community Development Agency Exhibits: 1. Available Funds for Affordable Housing Development Projects 2. Available Land Assets for Affordable Housing Development 3. Project Timelines 19C-6