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HomeMy WebLinkAboutHA - Item 12 - Housing Division Quarterly Report Community Development Agency santa-ana.org/cd Item # 12 City of Santa Ana 20 Civic Center Plaza, Santa Ana, CA 92701 Staff Report September 6, 2022 TOPIC: Housing Division Quarterly Report AGENDA TITLE: Quarterly Report for Housing Division Projects and Activities for the period of April 2022 – June 2022 RECOMMENDED ACTION Receive and file the Quarterly Report for Housing Division Projects and Activities for the period of April 2022 – June 2022. DISCUSSION This report for the quarter ending on June 30, 2022 provides statistics for all of the affordable housing projects and activities for the Housing Division. The report is divided into six sections: Loan Activity, Loan Portfolio Management and Monitoring, Density Bonus Housing Agreements, Renter Protections, 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 Q4 Total FY Q4 Total FY Q4 Total FY Q4 Total FY Residential Rehabilitation Grant Program 45 78 45 78 0 28 24 28 Homeownership / DPAP 104 200 20 200 9 7 3 4 Loan Subordinations 0 1 0 1 0 1 0 1 Housing Division Quarterly Report September 6, 2022 Page 2 2 9 2 9 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- and moderate-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 three (3) rehabilitation projects were completed during this quarter. Down Payment Assistance Loan Program (DPAP) Progress For the Down Payment Assistance Loan Program, staff evaluates applicant eligibility and oversees underwriting to ensure compliance with the 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 45 attendees. Three (3) down payment assistance loan applications were approved, two (2) closed escrow and one (1) is currently in escrow. The Housing Division also participated in the Orange County Community Housing Corporation’s Home Buyer Fair on Saturday, June 11. The fair was a collaboration with lenders, local real estate agents, the City, and fellow nonprofit partners, who provided services in English, Spanish and Vietnamese. Guests learned about different programs offered by various agencies, and learned how to achieve homeownership via workshops hosted by Citi and Bank of America. Twenty-two (22) attendees provided their email and were sent an application. After this Home Buyer Fair, interest from first-time homebuyers has increased and the Housing Division is anticipating the submittal of three (3) more applications at the start of the new quarter. During the next quarter, staff will also be sending a letter and flyer to lenders and real estate agents to advertise the program and offer assistance for their clients. Staff will also be conducting monthly workshops together with NeighborWorks Orange County every second Tuesday of the month. In addition to these workshops, staff participated in the Vietnamese National Association of Real Estate Professionals (VNARP) Homeownership Fair on August 11 at the Garden Grove community center. During the event, staff participated on a panel with other organizations that provide first time home buyer assistance. Staff answered questions, provided staff contact information and assisted with applications as needed with the public in attendance. On August 27, staff will be participating in a Home Buyer Expo at HPT Realty & Finance offices, in partnership with VNARP, in the City of Westminster. Finally, staff are working with local Housing Division Quarterly Report September 6, 2022 Page 3 2 9 2 9 lenders at Wells Fargo to get the City’s program approved within their company for an easier approval process. These activities for our Down Payment Assistance Loan Program are supplemented by a current 4 to 6 unit affordable homeownership project that staff is negotiating with Habitat for Humanity. Loan Portfolio Management & Monitoring The Housing Division is responsible for managing the residential loan portfolio, which includes all of the loans entered by the City and Housing Authority acting as the Housing Successor Agency. As of the end of the fourth quarter, the principal balance was $136,023,826.72. This is comprised of 340 loans, in which 315 are deferred or residual receipt payment loans. As shown in Table 2, the loan portfolio generated $701,240.48 in payments of principal and interest during the fourth quarter. The amount of residual receipts payments changes every quarter. Table 2: Portfolio Revenue Funding Source HOME CDBG Redevelopment NSP CalHOME Inclusionary Loan Payoffs $58,241.42 $135,214.21 $0 $10,579.02 $50,0000.00 $30,000.00 Residual Receipts Payments $79,934.99 $0 $172,461.05 $139,351.08 $0 $0 Amortized Loan Payments $1,288.88 $3,616.01 $20,153.82 $0 $300.00 $0 Total for Q4 $139,565.29 $138,830.22 $192,614.87 $149,930.10 $50,300.00 $30,000.00 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, 47 owner- occupancy recertification letters were mailed and 46 were returned and processed. This number includes letters sent from previous months. Staff also conducted a total of 192 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 on-site units. To help make constructing affordable on-site units feasible, the law allows developers to seek up to three incentives/concessions and an unlimited number of waivers, which are essentially 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 requested incentives/waivers and Housing Division Quarterly Report September 6, 2022 Page 4 2 9 2 9 places the onus on local jurisdictions to prove that the incentives/concessions or waivers are not financially warranted. Since 2018, 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 August, 2022 Brandywine Acquistion Group 1814 & 1818 E. First St. 4 Townhomes restricted for sale to Monderate- Income Buyers Renter Protections The Santa Ana City Council adopted two ordinances to help protect renters: a Rent Stabilization Ordinance, which limits residential rent increases to the lower of 3% or 80% of consumer price index (CPI) per year, and a Just Cause Eviction Ordinance, which provides “just cause” eviction protections for most tenants that occupy a residential real property or mobile home for 30 days. The new ordinances became effective on November 19, 2021, and expand on existing protections under the California Tenant Protection Act of 2019. Since the adoption of the ordinances, flyers, frequently asked questions, and press releases have been circulated to the community. The City also regularly updates a website devoted to the ordinances, which includes related documents and announcements (www.santa-ana.org/renterprotections). The ordinances are currently administered by staff in partnership with RSG. 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 Ordinances. A breakdown of the number of inquiries is as follows: Month # of Inquiries April 2022 161 May 2022 174 June 2022 111 Total 446 Housing Division Quarterly Report September 6, 2022 Page 5 2 9 2 9 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: During this quarter, the City announced the amount of allowable rent increase, which shall be effective as of September 1, 2022. Staff informed the public of programmatic updates via Nixle, social media, newsletters, and email distribution lists. A breakdown of the means of outreach is as follows: Lastly, Staff and RSG also conducted one (1) informational workshop at the HOPE Center: •April 29, 2022: 66 attendees 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 June 30, 2022. Housing Opportunity Ordinance On-Site Development: Since 2011, a total of 33 units have been developed on-site as a result of the Ordinance, including 23 ownership units for-sale and 10 rental units: Units Built On-Site Ownership Rental Total 23 10 33 In-Lieu Fees Generated: All in-lieu fees, penalties and other monies collected pursuant to the Housing Opportunity 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 Month # of Notices April 2022 13 May 2022 117 June 2022 91 Total 221 Platform Individuals Reached Nixle 12,576 Facebook 7,816 Instagram 4,551 Twitter 337 Nextdoor 916 Total 26,196 Housing Division Quarterly Report September 6, 2022 Page 6 2 9 2 9 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 Housing Opportunity 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 TOTAL $10,215,295 107 Project Inclusionary Housing Funds COMMITTED # of Units Address Habitat for Humanity “Lacy & Vance”$565,271 2 826 N. Lacy Street & 830 N. Lacy Street Westview House $1,514,113 84 2530 and 2534 Westminster Avenue WISE Place 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 $3,903,384 86 Affordable Housing Development Projects There are three (3) affordable housing projects under construction, and four (4) 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 RFP for Affordable Housing Development, which was issued on December 8, 2021 and closed on February 28, 2022, received three eligible proposals, one of which WISEPlace PSH has been awarded a pre-commitment letter and the two other proposals are currently in the review and evaluation phase. Housing Division Quarterly Report September 6, 2022 Page 7 2 9 2 9 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. Specifically, the build up roof is complete and the low roof are dried and roof tiles are getting stocked. Pre-lim drywall is completed at the 4th level. HVAC is starting to install ductwork and exhaust vents at the 4th level. Pre-lim insulation is complete on the 3rd and 4th level and will start on the 2nd floor units. Unit entry doors, WH doors and patio doors installation will be completed soon. Five community workshops were conducted for information on the application process of which there were 166 attendees. The estimated completion date is February 2023. North Harbor Village (1108 N Harbor) 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. Specifically, the following items have been completed: framing repairs, work on Harbor Blvd, concrete and rebar for the new community building, repairs to the roof/framing, installation of temporary stairs, demolition of old stairs, underground utilities for community building, and installation of new sheer wall to replace old rotted material. There was additional work due to unforeseen conditions such as mold, water damage, termite damage, and altered structures. Due to the additional construction work, the new estimated completion date is January 2023. Westview House (2530 Westminster Avenue) Developer Community Development Partners Description New construction of an affordable multifamily apartment development consisting of 85 units of both large family and PSH units with one (1) manager’s unit. Twenty-six of the units will be funded by Mainstream 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 Following approval by City Council on May 17, 2022, Community Development Partners successfully closed on their construction loan financing on May 31, 2022. The City disbursed 90% of our Inclusionary Housing Division Quarterly Report September 6, 2022 Page 8 2 9 2 9 Housing ($1,514,113) and HOME Investment Partnerships Program ($2,003,705) loan funds at closing, and 100% of our Rental Rehabilitation Program funds. HOME Grading activities are currently taking place at the site. A groundbreaking ceremony data is to be determined. Completion of the project is anticipated in February 2024. Projects in Pre-Development Crossroads at Washington (1126, 1136 and 1146 E Washington Avenue) Developer Related Companies of California 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) Fifteen (15) Project-Based Vouchers (PBV’s) Update The City, County, and Department of Toxic Substances Control (DTSC) entered into a Standard Voluntary Agreement for further agency oversight. DTSC approved the draft Removal Action Workplan (RAW) on March 28, 2022 and the Removal Implementation Plan which is required for the start of remediation activities. Remediation/Cleanup in accordance with the RAW is complete. DTSC approved the cleanup completion report. DTSC’s Land Use Covenant relating to the remaining contamination of PCE on the Housing Authority’s parcel was executed and recorded. With the help of the Developer, the Housing Authority and County secured an award of DTSC’s Equitable Community Revitalization Grant (ECRG) funds. These funds will be used for unforeseen environmental conditions during the construction of the affordable housing project. The construction loan closing will occur in July 2022. FX Residences (801, 809, 809 ½ E Santa Ana Boulevard) Developer HomeAid Orange County, Inc. with Mercy House as the service provider 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 On December 7, 2021, City Council approved an additional $587,000 from its Low and Moderate Income Housing Asset Fund due to an unanticipated increase in construction costs for the project. City Council also approved the project’s Loan Agreement, 99-Year Ground Lease, Density Bonus Agreement, and Development Impact Fee Deferral Agreement. HomeAid Orange County submitted for the first grading plan check in November of 2021 and for the first building plan check in February of 2022. There have been comments back on a few plans and HomeAid is working with their engineers to resubmit those plans. They are expecting permits to be pulled in late Housing Division Quarterly Report September 6, 2022 Page 9 2 9 2 9 summer 2022. Closing calls for current financers of the project will begin in July 2022. 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 On April 6, 2021, City Council approved a First Amendment to the Conditional Grant Agreement with Habitat for Humanity of Orange County for an additional $333,777 in Inclusionary Housing Funds for a total Inclusionary Grant amount of $565,271 for the development of the project. The Developer’s Site Plan Review application was submitted in April 2021. Final Approval of Site Plan Review awarded and project was approved by the Planning Commission on May 9, 2022. Grading Plans submitted for review at the end of December 2021. Grading Plans for 826 N Lacy have been approved but they are still awaiting approval on 830 N Lacy. Once 830 N Lacy is approved, Habitat’s Project Manager will work with Public Works staff to pull Grading Permits. Their goal is to start the Grading Process in August 2022. Building Plans submitted and have now been approved for both 826 & 830 N Lacy. Habitat is working with staff in Planning, Public Works and Building to pull Building Permits. The goal is to start the foundations by September 2022. 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. Awards will be announced in September 2022. 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: Steven Mendoza, Assistant City Manager Approved By: Kristine Ridge, City Manager Available Funds for Affordable Housing Development Projects As of June 30, 2022 Housing Successor Agency (Housing Authority) $4,861,423 Cash on Hand ($1,656,947)Frances Xavier Residence Project Pre-Commitment Loan 1 ($56,052)Administrative Costs Allowance 2 ($2,533,952)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 $294,203 Available Funds Inclusionary Housing Funds $14,795,979 Cash on Hand ($1,250,000)Down Payment Assistance Program 6 ($565,271)Lacy Street Project Grant 7 ($151,411)Westview House Pre-Commitment Loan 8 ($37,500)Westview House Project Cost ($11,544)WISEPlace Steps to Independence Program Agreement 9 ($484,000)WISEPlace PSH Pre-Commitment Loan 12 ($2,837,509)Administrative Costs Allowance (CDA/PBA) $9,458,744 Available Funds HOME Program $7,148,306 Funds to Drawdown ($3,007,489)Crossroads at Washington Pre-Commitment Loan 10 ($75,187)Crossroads at Washington Project Costs $4,065,630 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) $124,690 Funds to Drawdown $124,690 Available Funds to Drawdown Rental Rehabilitation Grant Program $48,258 Cash on Hand 11 ($38,652)Westview House Pre-Commitment Loan 8 $9,605 Available Funds $13,952,872 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 April 7, 2020. 9 Approved by City Council on April 7, 2020. 10 Approved by City Council on July 2, 2019. Additional $333,742 loan amount approved on August 17, 2021. 11 Old program income available after close out of program with HUD. 12 Approved by City Council on June 21, 2022. EXHIBIT 1 EXHIBIT 2 Page 1 of 5 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 23 Elevator Cab delivery 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) 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 EXHIBIT 2 Page 2 of 5 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 Sep 22 OCHFT Loan finalized Oct 22 Interior refurbishments & finishes Nov 22 Complete flooring Oct 22 Start of lease up Jan 23 Construction Completion Feb 23 Final Cleaning May 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 May 21 OCHFT Award Jun 21 No Place Like Home commitment EXHIBIT 2 Page 3 of 5 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 Feb 24 Construction complete July 24 All units Leased Nov 24 Perm Debt Conversion Projects in Pre-Development Crossroads at Washington – 1126 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 Implementaion 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 23 Construction complete Mar 23 Full occupancy 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) EXHIBIT 2 Page 4 of 5 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 Recived 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 Permit achieved Oct 22 Consruction Funding Closing,begin construction Nov 23 Anticipated Completion of construction Nov 23 Certificate of Occupancy/closings anticipated Dec 23 Lease up units ( 3 months) Habitat for Humanity – 826 N. Lacy Street & 830 Lacy Street ( 416 Vance Street) May 20 DDA signed June 20 Prepare grading plans Oct 20 Prepare architectural plans 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 Commence Grading Aug22 Building Permits issued Aug22 Begin construction Jul 23 Anticipated construction completion Jul23 Certificate of Occupancy / Closings WISEPlace Permanent Supportive Housing 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 EXHIBIT 2 Page 5 of 5 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 Nov 22 Submit first plan check Nov 22 Receipt of first plan check comments Dec 22 Submit second plan check Jan 23 Receipt of second plan check comments Jan 23 Submit third plan check Feb 23 Receive permit ready letter Mar 23 Construction loan closing Mar 23 Pull Permits and start construction Apr 23 Site Demolition Jun 24 Start of lease up Oct 24 Construction Completion Dec 24 Full occupancy