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HomeMy WebLinkAboutItem 16 - Quarterly Report for Housing Division Projects and Activities Community Development Agency santa-ana.org/cd Item # 16 City of Santa Ana 20 Civic Center Plaza, Santa Ana, CA 92701 Staff Report May 3, 2022 TOPIC: Quarterly Report for Housing Division Projects and Activities AGENDA TITLE: Quarterly Report for Housing Division Projects and Activities for the period of January 2022 to March 2022 RECOMMENDED ACTION Receive and file the Quarterly Report for Housing Division Projects and Activities for the period of January 2022 to March 2022 DISCUSSION This report for the quarter ending on March 31, 2022 provides statistics for all of the affordable housing projects and activities for the Housing Division. The report is divided into five sections: Loan Activity, Loan Portfolio Management and Monitoring, 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, 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 Q3 Total FY Q3 Total FY Q3 Total FY Q3 Total FY Home Repair Grant Program 5 33 5 33 28 28 24 28 Homeownership / DPAP 28 96 20 76 1 4 0 2 Loan Subordinations 0 1 0 1 0 1 0 1 Quarterly Report for Housing Division Projects and Activities May 3, 2022 Page 2 2 6 4 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 Home Repair Program is designed to increase, 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 percent 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 four 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 program guidelines and requirements established by HUD. During this quarter, staff conducted one down payment assistance virtual workshop via Zoom, with a total of seven attendees. One down payment assistance loan application was approved and closed escrow and one application was denied. Loan Portfolio Management and 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 third quarter, the principal balance was $136,454,564.28. This is composed of 347 loans, of which 322 are deferred or residual receipt payment loans. As shown in Table 2, the loan portfolio generated $959,256.23 in payments of principal and interest during the third quarter. The amount of residual receipts payments changes every quarter. Table 2: Portfolio Revenue Funding Source HOME CDBG Redevelopment NSP CalHOME Loan Payoffs $483,268.72 $302,984.35 $107,488.20 $0 $0 Residual Receipts Payments $26,707.00 $0 $0 $0 $0 Amortized Loan Payments $2,137.76 $13,872.70 $22,797.50 $0 $0 Total for Q3 $512,113.48 $316,857.05 $130,285.70 $0 $0 Quarterly Report for Housing Division Projects and Activities May 3, 2022 Page 3 2 6 4 9 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, 51 owner- occupancy recertification letters were mailed and 23 were returned and processed. This number includes letters sent from previous months. Staff also conducted a total of 86 inspections during this quarter. Renter Protection Ordinances The City Council adopted two new ordinances to help protect renters: a Rent Stabilization Ordinance, which limits residential rent increases to the lower of 3 percent or 80 percent of consumer price index (CPI) per year, and a Just Cause Eviction Ordinance, which limits the allowed reasons for which a renter can be evicted. The new ordinances became effective on November 19, 2021 and expand on existing protections under the California Tenant Protection Act of 2019. Since then, flyers, frequently asked questions, and press releases have been circulated to the community. The City has also created a website devoted to the ordinances, which includes related documents and updates (www.santa-ana.org/protections-for-renters). The ordinances are currently administered by RSG on behalf of staff. Durign this quarter, staff and RSG distributed letters, postcards, and flyers to residents and property owners throughout the city. A total of 36,350 informational postcards were mailed to renters in Santa Ana informing them about the two new ordinances and 13,612 letters were mailed to registered property owners and landlords. Letters about the two new ordinances were also emailed to 20 affordable housing developers and 46 nonprofit organizations throughout the City. Staff and RSG also conducted three virtual workshops via Zoom in English, Spanish and Vietnamese: January 11, 2022: 38 attendees January 25, 2022: 19 attendees February 23, 2022: 17 attendees March 22, 2022: Training for staff at the Hope Center Lastly, staff and RSG have also been responding to various inquiries via email and phone. A breakdown on the number of inquiries is a follows: Month # of Inquiries January 2022 215 February 2022 203 March 2022 332 Total 750 Quarterly Report for Housing Division Projects and Activities May 3, 2022 Page 4 2 6 4 9 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 promote and facilitate the development of affordable housing as well as land assets held by the Housing Authority. Exhibit 1 provides a summary of the funds available as of March 31, 2022. Exhibit 2 provides a summary of available land assets. 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 $28,442,887 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 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 Tiny Tim Plaza $1,300,000 50 2239 W 5th Street The Link Interim Emergency Shelter $4,140,295 N/A 2320 S Red Hill 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 and 830 N Lacy Street Westview House $1,514,113 84 2530 and 2534 Westminster Avenue Quarterly Report for Housing Division Projects and Activities May 3, 2022 Page 5 2 6 4 9 WISE Place Steps to Independence Public Service Program $90,000 N/A N/A Down Payment Assistance $1,250,000 N/A N/A TOTAL $3,419,384 86 Affordable Housing Development Projects There are two affordable housing projects under construction, and four affordable housing projects in pre-development. Below is a brief summary and status update for each project. Exhibit 3 provides a development timeline for each project. The Request for Proposals (RFP) for Affordable Housing Development was issued on December 8, 2021 and closed on February 28, 2022. The City received five proposals, which are currently in the review and evaluation phase. Projects under Construction Legacy Square (609 North Spurgeon Street) Developer National Community Renaissance with Mercy House as the service provider Description New construction of a 100-percent affordable multifamily apartment complex consisting of 92 units of rental housing and one manager’s unit. All units will be affordable to households earning less than 60 percent AMI, of which 33 units will be set-aside for permanent supportive housing. Authority Funds Eight Project-Based Vouchers (PBVs) Update Construction is currently underway. Specifically, the podium deck is 100- percent poured. Framing on the podium deck (2nd floor) at section’s A & B are up. Community center and leasing area steel studs are framed and the storefront is complete. MEP’s are underway under the deck and in the parking garage. Windows are getting installed on the 1st floor and the fire sprinklers are working on the 4th floor. Roofing, insulation and prelim drywall will start in the next few weeks. Five community workshops have also been scheduled for information on the application process. 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); 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: demolition of units, including dry wall removal; demolition of building exterior and existing parking lot; grading and pad certification of new Quarterly Report for Housing Division Projects and Activities May 3, 2022 Page 6 2 6 4 9 community center building; grading of existing parking lot; fire sprinkler demolition; removal of existing insulation; removal of CMU wall; sewer work is done offsite; driveway entrance, framing and shoring and underground utilites are complete. There have been some construction delays so the new estimated completion date is December 2022. 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-percent affordable multifamily apartment complex consisting of 85 units of rental housing and one manager’s unit. All units will be affordable to households earning less than 30 percent 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 ($1,297,693), 65-year ground lease agreement for 1126, 1136 and 1146 E Washington Avenue (Appraised Value as of September 22, 2019: $4,108,136) Seven Project-Based Vouchers (PBVs) Update The Developer continues to work with the City, County, and the California Department of Toxic Substances Control (DTSC) on supplemental environmental investigations. The City, County, and DTSC entered into a Standard Voluntary Agreement for further agency oversight. DTSC approved the draft Removal Action Workplan on March 28, 2022 and is currently reviewing the Removal Implementation Plan which is required for the start of remediation activities. Remediation/Cleanup is expected to start after approval of the Removal Implementation Plan and execution of two Agreements to enter into a Housing Assistance Payments Contract with the Housing Authority of the City of Santa Ana and Orange County Housing Authority. With the help of the Developer, the Housing Authority and County will be submitting the full application for DTSC’s Equitable Community Revitalization Grant (ECRG) program in April 2022. FX Residences (801, 809, 809 ½ East 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 manager’s unit. City / Authority Funds Housing Successor Agency ($1,656,947), three PBVs, 99-year ground lease agreement for 801 E Santa Ana Boulevard (Appraised Value as of Oct. 25, 2018: $788,000) Update On December 7, 2021, the City Council approved an additional $587,000 from its Low and Moderate Income Housing Assets 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 Quarterly Report for Housing Division Projects and Activities May 3, 2022 Page 7 2 6 4 9 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 mid-summer 2022. HomeAid also applied for AHP funding in March of 2022 and will know if they were awarded funds in June of 2022. Closing calls for current financers of the project will begin in April 2022. Habitat for Humanity (826 N Lacy & 830 N Lacy Street *formerly 416 Vance Street)) Developer Habitat for Humanity of Orange County Description New construction of two single-family detached homes for homeownership serving households up to 120 percent 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 The Developer’s Site Plan Review application was submitted in April 2021. Final approval of Site Plan Review was awarded and project will be presented to Planning Commission on May 9, 2022. Grading plans submitted for review at the end of December 2021, comments received and resubmittal will be first of April. Building plans submitted for review beginning of February 2022, comments received and resubmittal will be mid-April. Westview House (2530 Westminster Avenue) Developer Community Development Partners Description New construction of an affordable multi-family apartment development consisting of 85 units of both large family and PSH with one manager’s unit. Twenty-six of the units will be funded by PBV and MHSA funds through the NPLH program. City / Authority Funds Inclusionary Housing ($1,514,113), HOME Investment Partnerships Program ($2,003,705), Rental Rehabilitation Program ($386,523), and 26 Mainstream Program PBVs. Update The developer received an award of 4-percent tax credits and bonds on December 8, 2021. Financial closing calls are currently underway as the project is expected to close on their financing by end of May 2022 and break ground in June 2022. Staff will be recommending approval of the Loan Documents for this project on May 17, 2022. Regional Housing Needs Assessment Housing projects that have been approved, permitted, or received a certificate of occupancy after June 30, 2021 may be counted towards the 6th Regional Housing Needs Assessment (RHNA) Cycle (October 2021 to October 2029). Below is a summary of our progress to meet our 6th RHNA Cycle requirements for affordable housing: Quarterly Report for Housing Division Projects and Activities May 3, 2022 Page 8 2 6 4 9 FISCAL IMPACT There is no fiscal impact associated with this action. EXHIBIT(S) 1. Available Funds for Affordable Housing Development Projects 2. Available Land Assets for Affordable Housing Development 3. Project Timelines Submitted By: Steven Mendoza, Assistant City Manager Approved By: Kristine Ridge, City Manager Available Funds for Affordable Housing Development Projects As of March 31, 2022 Housing Successor Agency (Housing Authority) $4,771,069 Cash on Hand ($1,656,947)Frances Xavier Residence Project Pre-Commitment Loan 1 ($250,000)Administrative Costs Allowance 2 ($2,543,852)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 $16,487,591 Cash on Hand ($1,250,000)Down Payment Assistance Program 6 ($565,271)Lacy Street Project Grant 7 ($1,514,113)Westview House Pre-Commitment Loan 8 ($25,952)WISEPlace Steps to Independence Program Agreement 9 ($3,088,300)Administrative Costs Allowance (CDA/PBA) $10,043,955 Available Funds HOME Program $9,165,545 Funds to Drawdown ($3,007,489)Crossroads at Washington Pre-Commitment Loan 10 ($60,150)Crossroads at Washington Project Costs ($2,003,705)Westview House Pre-Commitment Loan 8 ($40,074)Westview House Project Costs $4,054,127 Available Funds to Drawdown HOME-American Rescue Plan Program (PSH Projects Only) $5,256,327 Funds to Drawdown $5,256,327 Available Funds to Drawdown CDBG Program (Acquisition/Rehabilitation Projects Only) $185,690 Funds to Drawdown $185,690 Available Funds to Drawdown NSP Program (Abandoned, Foreclosed or Vacant Properties Only) 1,614,523$ Funds to Drawdown ($1,297,693)Crossroads at Washington Pre-Commitment Loan 10 ($96,395)Crossroads at Washington Project Costs 220,434.87$ Available Funds to Drawdown Rental Rehabilitation Grant Program $395,722 Cash on Hand 11 ($386,523)Westview House Pre-Commitment Loan 8 $9,199 Available Funds $19,769,733 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. Exhibit 1 EXHIBIT 2 AVAILABLE LAND ASSETS FOR AFFORDABLE HOUSING DEVELOPMENT (1) 302 E. Twenty-Second Street a. APN: 003-122-25 b. Lot Size: 27,817sf c. Current Zoning: R1 Single-Family Residence, which allows one house per lot. d. Parcel was acquired 10/30/2002 using Low and Moderate Income Housing Asset Fund - 20% Set Aside. e. Previous Use: Purchased from Cal Trans. It was a remnant parcel from the freeway widening project. The site was vacant and undeveloped at the time it was acquired. f. General Plan: Low Density Residential, which allows single-family residences and ancillary uses. g. Maximum du/ac: Seven units per acre. h. Site Condition / Environmental Conditions: Property is irregular in shape, is below the minimum lot size for a residential lot, and will most likely require the approval of several variances from the zoning code in order to facilitate a residential unit. EXHIBIT 3 Page 1 of 4 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 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 Mar 20 Applied to OCHFT Financing ($2,292,920) EXHIBIT 3 Page 2 of 4 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 May 22 Roofing and Framing Jun 22 OCHFT Loan finalized Jun 22 Structural retrofitting and repairs Aug 22 Stock drywall & Inspections Sep 22 Gutter , Awning and Painting & installation of stairs Sep 22 Interior refurbishments & finishes Oct 22 Complete flooring Oct 22 Final Cleaning Oct 22 Start of lease up Dec 22 Construction Completion Apr 23 Full occupancy EXHIBIT 3 Page 3 of 4 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 Jun 22 DTSC ECRG Award Jun 22 City issues permit ready letter Jun 22 Start construction Oct 23 Construction complete Feb 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) 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 EXHIBIT 3 Page 4 of 4 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 Apr 22 Closing calls to start for financing Jul 22 Building and Grading Permit Approval Aug 22 Begin construction (grading, weather permitting) Nov 23 Completion of construction 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 Jun 22 Grading permit issued Jun 22 Commence Grading Jul 22 Building Permits issued Jul22 Begin construction Jun 23 Anticipated construction completion Jun23 Certificate of Occupancy / Closings 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 Sep 21 CDLAC/TCAC 4% application Dec 21 CDLAC/TCAC 4% award Jun 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