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HomeMy WebLinkAboutItem 12 - Housing Division Quarterly Report Community Development Agency www.santa-ana.org/community-development Item # 12 City of Santa Ana 20 Civic Center Plaza, Santa Ana, CA 92701 Staff Report February 7, 2023 TOPIC: Housing Division Quarterly Report AGENDA TITLE: Quarterly Report for Housing Division Projects and Activities for the period of October 1, 2022 to December 31, 2022. RECOMMENDED ACTION Receive and file the Quarterly Report for Housing Division Projects and Activities for the period of October 1, 2022 to December 31, 2022 DISCUSSION This report for the quarter ending on December 31, 2022 provides statistics for all of the affordable housing projects and activities for the Housing Division. The report is divided into seven sections: Loan Activity, Loan Portfolio Management and Monitoring, Density Bonus Housing Agreements, Development Impact Fee Deferral Agreements, Rent Stabilization, Affordable Housing Funds and Commitments, and Development Projects. Loan Activity Applications The Housing Division offers several different programs including down payment assistance for first-time homebuyers, and rehabilitation grants for mobile homes and single-family homes. Inquiries are received from the public and applications are mailed out, received, and approved for these programs on a continual basis. Table 1 shows the number of inquiries, and applications sent out, received, and approved by type for the quarter and for the total fiscal year: Table 1: Applications Sent Out, Received & Approved Inquiries Applications Sent Out Applications Received Applications ApprovedProgram Q2 Total FY Q2 Total FY Q2 Total FY Q2 Total FY Residential Rehabilitation Grant Program 10 80 0 50 0 25 14 14 Housing Division Quarterly Report February 7, 2023 Page 2 3 2 1 9 Homeownership / Down Payment Assistance Program 65 96 65 96 3 8 3 6 Loan Subordinations 0 0 0 0 0 0 0 0 The number of applications received is typically lower than the number of applications sent out in any given period due to the stringent program guidelines for eligibility regulated by the federal government, which makes it difficult for most applicants to qualify. The City of Santa Ana’s Residential Rehabilitation Grant Program is designed to improve and preserve affordable housing through the use of federal Community Development Block Grant (CDBG) funds. The Program is administered by Habitat for Humanity of Orange County on behalf of the City. The program provides grants of up to $25,000 for eligible home repairs for low-income homeowners at or below 80% of the Area Median Income (AMI) as defined by the U.S. Department of Housing and Urban Development (HUD). Eligible activities include the repair, replacement, and/or installation of major systems including plumbing, heating, electrical, windows, roof, paint, and handicap accessibility. A total of one (1) rehabilitation project has been completed during this quarter. Down Payment Assistance Loan Program Progress For the Down Payment Assistance Loan Program (DPAP), staff evaluates applicant eligibility and oversees underwriting to ensure compliance with program guidelines and requirements established by HUD. During this quarter, staff conducted three (3) down payment assistance virtual workshops via Zoom with a total of 73 attendees. Three (3) down payment assistance loan applications were approved and two (2) closed escrow. One application will close escrow in early January. Staff conduct monthly workshops together with NeighborWorks of Orange County every second Tuesday of the month. In addition to these workshops, staff participated in two workshops with real estate professionals in collaboration with NeighborWorks of Orange County. In total, 34 professionals attended the workshops to get information on how to assist their clients with moving forward with the City’s down payment assistance program. Loan Portfolio Management & Monitoring The Housing Division is responsible for managing the residential loan portfolio, which includes all of the loans entered into by the City and Housing Authority acting as the Housing Successor Agency. As of the end of the second quarter, the principal balance was $144,841,882. This is comprised of 344 loans, 319 of which are deferred or residual receipt payment loans. As shown in Table 2, the loan portfolio generated $369,210.43 in payments of principal and interest during the second quarter. The amount of residual receipts payments changes every quarter. Housing Division Quarterly Report February 7, 2023 Page 3 3 2 1 9 Table 2: Portfolio Revenue Funding Source HOME CDBG Redevelopment NSP CalHOME Inclusionary Loan Payoffs $0 $0 $18,028.27 $0 $0 $0 Residual Receipts Payments $285,586.49 $0 $37,689.00 $0 $0 $0 Amortized Loan Payments $1,335.45 $5,416.01 $20,955.21 $0 $200.00 $0 Total for Q2 $286,921.94 $5,416.01 $76,672.48 $0 $200.00 $0 Monitoring As part of the requirements for these loans, staff must monitor the owner-occupancy of single-family homes that have received loans, and the building code compliance of units in rental projects with long-term affordability covenants. During this quarter, 54 owner- occupancy recertification letters were mailed and 45 were returned and processed. This number includes letters sent from previous months. Staff also conducted a total of 58 inspections during this quarter. Density Bonus Housing Agreements The California Density Bonus law allows developers proposing five or more residential units to seek increases in base density for providing on-site housing units in exchange for providing affordable units on site. To help make constructing on-site affordable units feasible, the law allows developers to seek up to three incentives/concessions and an unlimited number of waivers, which are variances from development standards that would help the project be built without significant burden and without detriment to public health. The first version of the Density Bonus Law was adopted in 1979 and has since been amended at various times. Recent revisions allow affordable housing developers to request incentives/concessions and/or waivers for 100-percent affordable developments, even if they do not require a numerical density bonus. Moreover, in early 2017, the law was amended to restrict the ability of local jurisdictions to require studies to “justify” the density bonus, and requests incentives/waivers and places the onus on local jurisdictions to prove that the incentives/concessions or waivers are not financially warranted. As of the date of this report, the City of Santa Ana has entered into the following Density Bonus Housing Agreements: Date of Agreement Developer or Housing Development Housing Development Address Affordable Units October 2018 Metro East Senior Park, aka, Santa Ana Senior Associates 2222 E. First St. 415 Rental units restricted for Very Low Income and Low Income or Senior Tenants August 2018 First Point I & II Apartments, aka, Santa Ana Pacific Associates 2110, 2114 and 2020 E. First St. 547 Rental units restricted for Very Low Income and Low Income Tenants November 2019 The Rafferty, aka, QOZB III, LLC 114 & 117 E. Fifth St. 11 Rental units restricted for Very Low Income Tenants Housing Division Quarterly Report February 7, 2023 Page 4 3 2 1 9 August 2022 Brandywine Acquisition Group 1814 & 1818 E. First St. 4 Townhomes restricted for sale to Moderate- Income Buyers Development Impact Fee Deferral Agreements Development impact fees are a one-time charge to new developments imposed under the Mitigation Fee Act. These fees are charged to new developments to mitigate impacts resulting from the development activity and cannot be used to fund existing deficiencies. This means that for improvements that benefit existing as well as new development, impact fees can only pay for the portion of the improvement that benefits the new uses. Impact fees must be adopted based on findings of a reasonable relationship between the development paying the fee, the size of the fee, and the use of fee revenues. Development impact fees do not require voter approval and are commonly used by cities to address the impact of new development on schools, parks, transportation, etc. Prior to issuance of any building permits, the City currently requires the payment of various development impact fees. However, affordable housing developers may submit a written request formally requesting the deferral of specific development impact fees for their property pursuant to California Government Code section 66007. The City and owner then execute a Development Impact Fee Deferral Agreement to defer certain development impact fees applicable to the property and place a lien on the property to secure payment of these fees, which are due before the issuance of the certificate of occupancy or the final building check. As of the date of this report, the City has entered into the following outstanding Development Impact Fee Deferral Agreements that are pending payment: Date of Agreement Developer Housing Development Address Estimated Total Fees Due October 2019 Santa Ana Pacific Associates & Santa Ana Pacific Associates II 2110, 2114 and 2020 E. First St.$4,121,986 December 2021 Shelter Providers of Orange County 802, 809, 809 ½ East Santa Ana Blvd.$510,000 July 2022 Washington Santa Ana Housing Partners 1126 &1146 E. Washington Ave.$652,717 Rent Stabilization (Previously Referred to as Renter Protections) Effective November 18, 2022, City Council adopted an amended Rent Stabilization and Just Cause Eviction Ordinance that included a number of changes. The amended Rent Stabilization and Just Cause Eviction Ordinance expands the administration and enforcement of renter protections for Santa Ana residents by establishing a rental housing board and a rental registry program. The amended Ordinance also includes additional petitions for tenants and landlords, voluntary mediation services, and other enhancements. The City has prepared user-friendly information on the Ordinance for both tenants and landlords on the City’s webpage, including a detailed summary of changes to the Housing Division Quarterly Report February 7, 2023 Page 5 3 2 1 9 Ordinance and answers to Frequently Asked Questions in English, Spanish and Vietnamese. Over the next several months, staff will be providing updates to tenants and landlords on the implementation of the amended Ordinance. Tenants and landlords are encouraged to sign up to receive the latest updates. During this quarter, staff and RSG fielded calls from the public and provided information and education to renters and property owners on the City’s Rent Stabilization and Just Cause Eviction Ordinance. A breakdown of the number of inquiries is as follows: The City requires that when changing the terms of a tenancy, an owner must submit proof of service to the City as evidence that the owner has complied with noticing requirements. A breakdown of the number of notices received is as follows: The City regularly disburses important updates and information to Santa Ana residents. During this quarter, staff informed the public of programmatic updates via social media and email distribution lists, reaching a total of 132,435 Santa Ana residents. Available Funds and Land Assets for Affordable Housing Development Projects The City of Santa Ana and the Housing Authority acting as the Housing Successor Agency manages multiple sources of local, state and federal funds to develop affordable housing. Exhibit 1 provides a summary of the funds available as of December 31, 2022. Affordable Housing Opportunity and Creation Ordinance On-Site Development: Since 2011, a total of 33 units have been developed on-site as a result of the Affordable Housing Opportunity and Creation Ordinance, including 23 ownership units for-sale and 10 rental units: Units Built On-Site Ownership Rental Total 23 10 33 Month # of Inquiries October 2022 77 November 2022 54 December 2022 72 Total 203 Month # of Notices October 2022 40 November 2022 53 December 2022 63 Total 156 Housing Division Quarterly Report February 7, 2023 Page 6 3 2 1 9 In-Lieu Fees Generated: All in-lieu fees, penalties and other monies collected pursuant to the Ordinance, including interest, are deposited into the Inclusionary Housing Fund. Since inception, the Inclusionary Housing Fund has generated $28,443,446 to be used for the development of housing affordable to low- and moderate-income households, with a reasonable amount spent on administrative or related expenses associated with the administration of the Ordinance. In-lieu fees generated have been used to develop new affordable housing opportunities, provide emergency shelter, and create homeownership opportunities. Below is a summary of how in-lieu fees have been used by the City: Project Inclusionary Housing Funds SPENT # of Units Address Santa Ana Arts Collective $4,775,000 57 1666 N. Main Street La Placita Cinco $1,300,000 50 2239 West 5th Street The Link Interim Emergency Shelter $4,140,295 N/A 2320 S Redhill Avenue Westview House $1,514,113 84 2530 and 2534 Westminster Avenue Habitat for Humanity “Lacy & Vance”$565,271 2 826 N. Lacy Street & 830 N. Lacy Street TOTAL $12,294,679 193 Project Inclusionary Housing Funds COMMITTED # of Units Address Habitat for Humanity “Washington Street”$2,200,000 6 1921 W. Washington Ave. WISEPlace Steps to Independence Public Service Program $90,000 N/A N/A Down Payment Assistance $1,250,000 N/A N/A WISEPlace PSH Pre- Commitment Loan $484,000 48 1411 N. Broadway TOTAL $4,024,000 54 During this quarter, no additional inclusionary housing In-lieu fees have been received. Housing Division Quarterly Report February 7, 2023 Page 7 3 2 1 9 Affordable Housing Development Projects There are five (5) affordable housing projects under construction, and three (3) affordable housing projects in pre-development. Below is a brief summary and status- update for each project. Exhibit 2 provides a development timeline for each project. The most recent RFP for Affordable Housing Development was issued on December 8, 2021 and closed on February 28, 2022. WISEPlace Permanent Supportive Housing and Habitat for Humanity of Orange County were awarded pre-commitment letters. Projects under Construction Legacy Square (609 N Spurgeon Street) Developer National Community Renaissance with Mercy House as the service provider Description New construction of a 100% affordable multifamily apartment complex consisting of 92 units of rental housing and one (1) manager’s unit. All units will be affordable to households earning less than 60% AMI of which 33 units will be set-aside for permanent supportive housing. Authority Funds Eight (8) Project-Based Vouchers (PBVs) Update Construction is currently underway and on schedule. All units are in the finish stages on all floors, fire alarm fixtures are being installed, common areas’ finish materials are being installed. The solar panels and roofing are completed. Landscape on the podium is complete. Patio wall on the ground floor are ongoing and getting ready for flatwork. Offsite demo is complete. All electrical meters have been released and waiting for SCE final installation and power to buildings. Fire has signed off on all floors and final inspection will take place once they have power. The estimated completion date is February 2023. North Harbor Village (1108 N Harbor Boulevard) Developer Jamboree Housing Corporation Description Acquisition and rehabilitation of a former motel yielding 89 units of permanent supportive housing. City / Authority Funds CDBG ($1,687,047); Eight-nine (89) PBVs consisting of 34 HUD-VASH PBVs and 55 non HUD-VASH PBVs. Update Construction is currently underway. Recent activities include replacing the fire sprinkler system, adjusting roof drains, CMU + Lattice work, coordination with neighbors for work alongside PL, setting the new stairs, framing on new community building, adding electrical to bldg. A, bldg. B, and bldg. C. Due to the additional construction work, the estimated completion date is May 2023. Westview House (2530 Westminster Avenue) Developer Community Development Partners with Mercy House as the service provider Description New construction of an affordable multifamily apartment development consisting of 85 units of both large family and PSH units with one (1) Housing Division Quarterly Report February 7, 2023 Page 8 3 2 1 9 manager’s unit. Twenty-six of the units will be funded by Mainstream Program PBVs and Mental Health Services Act (MHSA) funds through the No Place Like Home (NPLH) program. City / Authority Funds Inclusionary Housing ($1,514,113), HOME Investment Partnerships Program ($2,003,705), Rental Rehabilitation Program ($386,523), and twenty-six (26) Mainstream Program PBVs Update Grading activities have been completed and concrete has been poured. A groundbreaking ceremony was held on November 2, 2022. The next project milestone is framing completion. Completion of the project is anticipated in February 2024. Crossroads at Washington (1126, 1136 and 1146 E Washington Avenue) Developer The Related Companies of California (TRCC) with A Community of Friends (ACOF) as co-developer and lead service provider Description New construction of a 100% affordable multifamily apartment complex consisting of 85 units of rental housing and one (1) manager’s unit. All units will be affordable to households earning less than 30% AMI of which 43 units will be set-aside for permanent supportive housing. City / Authority Funds HOME Investment Partnerships Program ($3,007,489), Neighborhood Stabilization Program ($1,637,420), sixty-five (65) year ground lease agreement for 1126, 1136 and 1146 E. Washington Avenue (Appraised Value as of September 22, 2019: $4,108,136) and Fifteen (15) PBVs Update Building foundations were poured and framing began in November and December. Habitat for Humanity (826 N. Lacy & 830 N Lacy Street) Developer Habitat for Humanity of Orange County Description New construction of two single-family detached homes for homeownership serving households up to 120% AMI. City / Authority Funds Inclusionary Housing ($565,271) and a 99-year ground lease agreement for 416 Vance Street and 826 N. Lacy Street (Appraised Value as of Oct 25, 2018: $578,000) Update Construction is underway and foundations and underground utilities were completed in October 2022. A Framing Day Event was held on Friday, October 28, 2022. Many members of the community along with City staff attended the ceremony. In addition, there were over 50 volunteers from city staff and the community who came together to raise the walls on the homes. Following Framing Day, the site has been open, Wednesday through Saturday, to regularly scheduled volunteers. Volunteer opportunities will be offered throughout the duration of the build. Framing was completed by volunteers in December 2022. Projects in Pre-Development FX Residences (801, 809, 809 ½ E Santa Ana Boulevard) Developer HomeAid Orange County, Inc. with Mercy House as the service provider Housing Division Quarterly Report February 7, 2023 Page 9 3 2 1 9 Description New construction of an affordable multifamily apartment complex consisting of 16 units of permanent supportive housing, and one (1) manager’s unit. City / Authority Funds Housing Successor Agency ($1,656,947), three (3) PBVs, 99-year ground lease agreement for 801 E. Santa Ana Blvd. (Appraised Value as of Oct 25, 2018: $788,000) Update Closing calls for current lenders of the project began in July 2022. HomeAid and the predevelopment team for FX Residences submitted for a 2nd plan check on the building plans in early October. The FX team will be submitting for a 3rd plan check in January 2023. The street improvement and underground plans were submitted at the end of October. Awaiting comments from Improvement/Encroachment plans from the city. HomeAid and Builder Captain City Ventures expect to pull permits by the end of the 1st quarter of 2023 and break ground on the project early in the 2nd quarter of 2023. Completion of the project is estimated by the 3rd quarter of 2024. WISEPlace Permanent Supportive Housing (1411 N Broadway) Developer Jamboree Housing Corporation with WISEPlace as the co-developer and lead service provider Description Adaptive reuse and new construction of the WISEPlace building to provide 48 permanent supportive housing units, and one (1) manager’s unit. City / Authority Funds HOME-ARP ($5,256,327); Twenty-five (25) PBVs Update The developer has obtained all of their soft funding commitments from the City of Santa Ana, Orange County Housing Finance Trust, and the County of Orange. The developer applied to TCAC for competitive 9% tax credits in June 2022. The project was officially awarded tax credits in September 2022. Jamboree and Y&M (the project architect) submitted for their first plan check in December 2022. Habitat for Humanity (1921 W Washington Avenue) Developer Habitat for Humanity of Orange County Description New construction of three duplexes / 6 homes for homeownership serving households up to 80% AMI. City / Authority Funds Inclusionary Housing Funds ($2,200,000) Update On November 15, 2022, the City Council authorized and approved issuance of a pre-commitment letter evidencing the preliminary award of $2,200,000 in Inclusionary Housing Funds for Habitat for Humanity (Habitat). In December 2022, Habitat submitted a Conceptual Site Plan and Project Description to the Planning and Building Agency to evaluate the project and determine if any discretionary action is needed, which will then inform whether the Sunshine Ordinance is triggered for a community meeting. In addition, Habitat submitted the Conceptual Site Plan, Project Description and Aerial view of the lot to the City’s Permit Services to start the process of obtaining a Demolition Permit for the existing structure on the lot. Habitat also contracted with a demolition company and documentation has been submitted to SCAQMD. Notification from SCAQMD is pending. Housing Division Quarterly Report February 7, 2023 Page 10 3 2 1 9 FISCAL IMPACT There is no fiscal impact associated with this action. EXHIBIT(S) 1. Available Funds for Affordable Housing Development Projects 2. Project Timelines Submitted By: Michael L. Garcia, Executive Director of Community Development Approved By: Kristine Ridge, City Manager Available Funds for Affordable Housing Development Projects As of December 31st, 2022 Housing Successor Agency (Housing Authority) $4,998,457 Cash on Hand ($1,656,947)Frances Xavier Residence Project Pre-Commitment Loan 1 ($250,000)Administrative Costs Allowance 2 ($2,771,241)Administrative Costs Allowance for Future Fiscal Years 3 ($307,386)Crossroads at Washington Option Agreement Amendment 4 ($12,883)Crossroads at Washington Environmental Assessment Oversight 5 $0 Available Funds Inclusionary Housing Funds $13,987,528 Cash on Hand ($1,170,000)Down Payment Assistance Program 6 ($56,527)Lacy Street Project Grant 7 ($151,411)Westview House Loan 8 ($37,500)Westview House Project Cost ($11,544)WISEPlace Steps to Independence Program Agreement 9 ($2,200,000)1921 W. Washington Project Pre-Commitment 13 ($484,000)WISEPlace PSH Pre-Commitment Loan 12 ($2,677,299)Administrative Costs Allowance (CDA/PBA) $7,199,247 Available Funds HOME Program $6,504,381 Funds to Drawdown ($300,749)Crossroads at Washington Loan 10 ($200,371)Westview House Loan 8 $6,003,261 Available Funds to Drawdown HOME-American Rescue Plan Program (PSH Projects Only) $5,256,327 Funds to Drawdown ($5,256,327)WISEPlace PSH Pre-Commitment Loan 12 $0 Available Funds to Drawdown CDBG Program (Acquisition/Rehabilitation Projects Only) $4,690 Funds to Drawdown $4,690 Available Funds to Drawdown Rental Rehabilitation Grant Program $48,502 Cash on Hand 11 ($38,652)Westview House Loan 8 $9,850 Available Funds $13,217,048 Total Available Funds 1 Approved by Housing Authority on January 15, 2019. Additional $587,000 approved by Housing Authority on December 7, 2021. 2 The Housing Successor Agency relies on available cash to fund the monitoring and compliance functions related to the former Redevelopment Agency's housing loans. 3 Funds to be set aside for compliance and monitoring requirements due to uncertainty of future repayment revenues. 4 Approved by Housing Authority on December 15, 2020. Additional $150,000 maximum approved by Housing Authority on August 17, 2021 (2nd Amendment to Option Agreement). 5 Approved by Housing Authority on July 20, 2021. 6 $400,000 originally approved by City Council on March 6, 2018. Nine loans paid through end of September 2021. Additional $1,200,000 approved by Council on November 2, 2021. 7 Approved by City Council/Housing Authority on March 5, 2019. Additional $333,777 approved by City Council on April 6, 2020. 8 Approved by City Council on May 17, 2022. 9 Approved by City Council on April 7, 2020. 10 Approved by City Council on June 21, 2022. 11 Old program income available after close out of program with HUD. 12 Approved by City Council on June 21, 2022. 13 Approved by City Council on November 15, 2022. Exhibit 1 EXHIBIT 2 Page 1 of 6 Current Affordable Housing Development Project Timelines Projects Under Construction Legacy Square – 609 North Spurgeon Street Aug 18 Santa Ana CDA Funding Application Dec 18 Applied for NPLH and SNHP Funds Jan 19 Santa Ana funding award Feb 19 Planning entitlements approved Feb 19 Applied for Round 4 AHSC Funding May 19 Award of SNHP funds Jul 19 Applied for Round 1 MHP Nov 19 Applied for State 4% tax credits Jan 20 Construction drawings (8-12 weeks) Feb 20 Apply for Round 5 AHSC funding May 20 Apply for 4% tax credits May 20 Plan check (12-16 weeks) Jun 20 Award of AHSC funds July 20 Award of 4% Tax Credits July 20 Award of Tax-Exempt Bonds May 20 Plan Check (12-16 weeks) Jan 21 Building permit issuance Feb 21 Construction closing/syndication Feb 21 Begin construction (24 months) Jul 21 Groundbreaking Ceremony Mar 22 Press Release announcing 5 Community Workshops for Lease Up information Apr 22 Framing complete May 22 Roofing to start July 22 Elevator Cab delivery Sept 22 Interior painting, and flooring &HVAC getting installed Oct 22 Production insulation and Building Inspection of the Community Room and Leasing Office Jan 23 Fire signed off on all floors, solar panels and roofing completed, all units in the finish stages. Landscape on podium complete Feb 23 Construction complete June 23 100% fully leased (4 months) North Harbor Village – 1108 N. Harbor Mar 19 Start of design development Mar 19 Applied to FHLBSF for AHP Financing ($890,000) Mar 19 Award of VASH Vouchers & City Loan by City Council (89 Vouchers and $1,687,047) Mar 19 Start environmental approval process with City of Santa Ana (CEQA/NEPA) Mar 19 Applied for Home Depot Grant ($500,000) Jun 19 CEQA / NEPA Approval – City of Santa Ana Jun 19 AHP Award Date ($890,000) Aug 20 Applied to HCD for MHP 1st Round Funding ($13,316,412) EXHIBIT 2 Page 2 of 6 Dec 19 Notified project did not receive 1st Round MHP funding Feb 20 Applied to HCD for VHHP Funding ($10,000,000) Mar 20 Applied to HCD for MHP 2nd round funding Mar 20 Applied to OCHFT Financing ($2,292,920) May 20 Notified project did not receive 2st Round MHP funding May 20 Received OCHFT funding award ($2,292,920) Jun 20 Received VHHP funding award ($10,000,000) Jun 20 Submitted Plans for Ministerial Design Approval Jun 20 Applied for CDLAC tax-exempt bond allocation ($24,000,000) Jul 20 Applied for TCAC 4% competitive state and federal tax credits ($9,896,911) Sept 20 CDLAC Allocation Nov 20 Ministerial Design Approval (upon completion of community meeting on 11/4/2020) Oct 20 TCAC Allocation Oct 20 Start construction documents for rehab Nov 20 Submit first plan check Dec 20 Awarded Home Depot Grant Jan 21 Receipt of first plan check comments Jan 21 Submit second plan check Feb 21 Receipt of second plan check comments Feb 21 Submit third plan check Mar 21 Received permit ready Apr 21 Construction loan closing Apr 21 Pull Permits and start construction May 21 Site Demolition Dec 21 Work on mock up units begins Jun 22 Structural retrofitting and repairs July 22 Roofing and Framing Aug 22 Stock drywall & Inspections Aug 22 Gutter, Awning and Painting & installation of stairs Oct 22 OCHFT Loan finalized Apr 23 Interior refurbishments & finishes Apr 23 Complete Flooring Feb 23 Start of Lease up May 23 Construction Completion May 23 Final Cleaning Aug 23 Full occupancy Westview House – 2530 Westminster Avenue Oct 19 City of Santa Ana RFP submittal May 20 OC 2020 Supportive Housing NOFA Submittal Dec 20 OC 2020 Supportive Housing NOFA award Jan 21 City of Santa Ana PBV Award Jan 21 Construction/permanent debt commitments Jan 21 Receive Entitlements Jan 21 No Place Like Home application Mar 21 OCHFT application EXHIBIT 2 Page 3 of 6 May 21 OCHFT Award Jun 21 No Place Like Home commitment Sep 21 CDLAC/TCAC 4% application Dec 21 CDLAC/TCAC 4% award May 22 Close on construction financing Jun 22 Construction permits issued Jun 22 Construction start Nov 22 Groundbreaking Ceremony Dec 22 Grading activities completed and concrete poured Feb 24 Construction complete July 24 All units Leased Nov 24 Perm Debt Conversion Crossroads at Washington – 1126,1136 and 1146 E. Washington Avenue Aug 19 Submitted PSH application to County Oct 19 Submitted for Planning entitlements Oct 19 Community meeting Nov 19 Approval of Joint Powers Agreement, Option to Ground Lease, Voucher Resolution and Cooperation Agreement, and Regional Housing Needs Assessment (RHNA) Agreement and Density Bonus Dec 19 NEPA EA City Approval – City of Santa Ana submits NEPA EA to HUD Feb 20 PSH Funds and Voucher approval from County Board of Supervisors Feb 20 Planning entitlements approved Mar 20 TCAC 9% Application – 1st Round 2020 Jul 20 TCAC FCAA/9% Application – 2nd Round 2020 Oct 20 TCAC FCAA/9% Award – 2nd Round 2020 Mar 21 Submitted OCHFT PSH NOFA Application May 21 OCHFT PSH NOFA Award Dec 21 Submit DTSC Equitable Community Revitalization Grant (ECRG) Pre- Qualifying Application Feb 22 Submit for 1st plan check Mar 22 DTSC approves draft Removal Action Workplan; draft Removal Implementation Plan under review Apr 22 DTSC ECRG Full Application Jul 22 DTSC ECRG Award Jul 22 City issues permit ready letter Jul 22 Construction finance closing/Start construction Nov 22 Building foundation complete Dec 22 Framing began Dec 23 Construction complete Apr 24 Full occupancy Habitat for Humanity – 826 N. Lacy Street & 830 Lacy Street May 20 DDA signed June 20 Prepare grading plans Oct 20 Prepare architectural plans EXHIBIT 2 Page 4 of 6 Oct 20 Submit Neighborhood Review Application Feb 21 Final Approval from Historic French Park Committee Apr 21 Submit Site Review Application Dec 21 Submit grading/ Non-Priority WQMP Jan 22 Submit architectural plans May 22 Planning Commission Approval Jul 22 Grading permit issued Aug 22 Groundbreaking Aug 22 Building Permits issued Aug 22 Commence Grading Sep 22 Begin Foundation Construction Oct 22 Framing Ceremony/Framing Construction Begins Dec 22 Framing completed Aug 23 Anticipated Construction completion Aug 23 Certificate of Occupancy/Closings Projects in Pre-Development FX Residences – 801, 809, 809 ½ E. Santa Ana Boulevard Jan 19 Council approval for land lease and project funding Jan 19 Submittal of application for NPLH funding Feb 19 Confirm with City staff that project site can yield additional units under existing zoning Mar 19 Revise conceptual drawings for additional 5 units (17 total units, up from the original 12 units) Mar 19 SNHP funding application submitted to County Apr 19 City staff to review revised conceptual design Apr 19 Begin development agreement May19 Board of Supervisors meeting for SNHP funding Jul 19 Execute Development Agreement Jul 19 Formal awards letters for NPLH funding to be issued Aug19 Initial planning submittal Sept19 Sunshine Ordinance Meeting Mar 21 Planning Commission Meeting (ministerial approval of density bonus) Oct 21 Submit for first plan check Dec 21 City Council Meeting (ministerial approval of density bonus) Dec 21 City Council approval of additional $587,000 for construction costs Feb 22 Building permit submittal Mar 22 Received 1st set of comments back from Plan Check, consultants working on responses. Jul 22 FX Funding Closing Meetings begin, 2nd Building Plan Submittal Aug 22 Building and Grading comments being addressed Oct 22 Construction Funding Closing process is underway Dec 22 Dry closed funding for CalHFA/SNHP and City of Santa of Santa Ana Jan 23 Remaining construction funding loans will close Mar 23 Pulling of permits for project EXHIBIT 2 Page 5 of 6 Mar 23 Construction Begins Nov 24 Anticipated Completion of construction Dec 24 Lease up units (3 months) WISEPlace Permanent Supportive Housing – 1411 N. Broadway May 19 Start of conceptual design development Sept 19 Applied to City of Santa Ana for Financing Feb 20 Notified not awarded City of Santa Ana Financing Mar 20 Applied to Orange County Housing Finance Trust (OCHFT) Financing Apr 20 Met with City of Santa Ana Planning Staff on entitlements May 20 Notified not awarded OCHFT Financing Jun 21 Met with City of Santa Ana staff to review revised conceptual plans Jan 22 Submitted Historic Resource Commission and entitlements application to City of Santa Ana Feb 22 Applied to City of Santa Ana for HOME-ARP Funding and PBVs Mar 22 City of Santa Ana Historic Resource Commission Approval Mar 22 Applied to OCHFT Financing Mar 22 Applied to AHP Financing Apr 22 Awarded City of Santa Ana for HOME-ARP Funding and PBVs May 22 Awarded OCHFT Funding May 22 City of Santa Ana Planning Commission Approval of entitlements May 22 City of Santa Ana Community Development Commission Approval of Funding and Density Bonus Agreement (DBA) Jun 22 Notified not awarded AHP Funding Jun 22 Applied to County of Orange for ARPA Funding Jun 22 City of Santa Ana City Council Approval of DBA Jun 22 Awarded County of Orange ARPA Funding Jun 22 Applied for TCAC 9% competitive federal tax credits Sept 22 TCAC Allocation Sept 22 Start construction documents Dec 22 Submit first plan check Jan 23 Receipt of first plan check comments Jan 23 Submit second plan check Feb 23 Receipt of second plan check comments Feb 23 Submit third plan check Mar 23 Receive grading permit and building permit ready letter Mar 23 Construction loan closing Mar 23 Pull Permits and start construction Apr 23 Site Demolition Nov 24 Start of lease up Nov 24 Construction Completion Feb 25 Full occupancy Habitat for Humanity – 1921 Washington Avenue Dec 21 Habitat for Humanity OC closed escrow on property Aug 22 Subsidy Approval from Community Development Commission Nov 22 Subsidy Approval from City Council EXHIBIT 2 Page 6 of 6 Dec 22 Submit Demo Permit Application Jan 23 Demo Permit Issued Feb 23 Submit Site Plan Review Application Feb 23 Begin Sunshine Ordinance Meetings Mar 23 Demo Completed Apr 23 Groundbreaking Ceremony May 23 Final Approval of Site Plan Review Application Jun 23 Submit Grading / Non-Priority WQMP Jun 23 Submit Architectural plans Jul 23 Planning Commission Approval Sep 23 Grading Permit Issued Sep 23 Commence Grading Oct 23 Building Permit Issued Oct 23 Begin Foundation Construction Dec 23 Framing Ceremony / Framing Construction Begins Dec 24 Anticipated Construction Completion Dec 24 Certificate of Occupancy / Closings