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0, 0 0 0 0 <br />FAU 1 0 R1 <br />MEETING DATE: <br />MAY 5, 2015 <br />TITLE: <br />PROJECT BASED VOUCHERS <br />ALLOCATIONS <br />(STRATEGIC PLAN NO, 5,3) <br />--------- -------- <br />TIV <br />� . 6 1 1 ik, 111:1 am 0 [01 <br />El As Recommended <br />El As Amended <br />CONTINUED TO <br />1. Approve allocations of project based vouchers based on the two recommended projects <br />located at 815 N. Harbor Boulevard by 815 N. Harbor, LP and 1440 E. First Street by AMCAL <br />Multi -Housing Two, LLC. <br />2. Authorize the Executive Director of the Housing Authority or designee, contingent upon <br />approval by the U.S. Department of Housing and Urban Development, to complete and <br />execute the Project Based Vouchers Agreement to Enter into Housing Assistance Payments <br />Contract once the awarded projects have received Planning Approval within 24 months of <br />May 5, 2015. <br />3. Authorize the Executive Director of the Housing Authority or designee, to complete and <br />execute the Project Based Vouchers Housing Assistance Payments Contract between the <br />Housing Authority of the City of Santa Ana and the awarded Developers after construction of <br />each awarded project, and other necessary documents for the implementation of project - <br />based vouchers for the awarded projects. <br />DISCUSSION, <br />Project -based vouchers (PBVs) are a component of the Housing Authority of the City of Santa <br />Ana's (Authority) housing choice voucher program. PBVs differ from conventional tenant -based <br />vouchers (Section 8) in that they are limited to units located in a specific residential facility; rental <br />assistance is tied to the unit rather than being tied to the tenant. Project based vouchers (PBVs) <br />work towards the City's objective to facilitate diverse housing opportunities and support efforts to <br />preserve and improve the livability of Santa Ana neighborhoods by creating new affordable units <br />within the City. <br />4-1 <br />