First District Report December 2019

 Developer submitted an application for 2 nd round 2019 competitive 9% tax credits and was awarded tax credits. Developer is now working on closing construction financing and anticipates starting construction by March 2020. St. Michaels Community Housing, Riverside (Developer – Community Development Partners):  50 unit multi-family housing development  The Housing Authority worked in close partnership with the Department of Behavioral Health in trying to identify potential affordable housing projects eligible to apply for the No Place Like Home (NPLH) funding from the State. HCD announced the first round awards of NPLH and St. Michael’s was awarded $4,331,808. In connection with the NPLH award 24 units will be set aside for

homeless clients receiving services from the Department of Behavioral Health.  Developer will be submitting for non-competitive 4% tax credits first quarter 2020.  The Housing Authority awarded the project 24 Project Based Vouchers.  Anticipated construction start date is Spring of 2020.

Oasis Senior Villas, Riverside (Developer – A Community of Friends):  95 unit multi-family senior housing and senior veteran development

 The Housing Authority worked in close partnership with the Department of Behavioral Health in trying to identify potential affordable housing projects eligible to apply for the No Place Like Home (NPLH) funding from the State. HCD announced the first round awards of NPLH and Oasis Senior Villas was awarded $8,302,632. In connection with the NPLH award 46 units will be set aside for homeless clients receiving services from the Department of Behavioral Health.  Developer will be submitting for non-competitive 4% tax credits first quarter 2020.  The Housing Authority awarded the project 46 Project Based Vouchers.  Anticipated construction start date is Spring of 2020. Hayman House, Lake Elsinore (Developer - Habitat for Humanity Inland Valley):  $291,000.00 in Neighborhood Stabilization Program (NSP) funds for the relocation and rehabilitation of the historic Hayman home in the City of Lake Elsinore was approved April 24, 2018. The home will be sold to a low income first time homebuyer.  Completion of construction is anticipated by end of 2019.  Staff has negotiated with developer to move forward with a Development and Disposition Agreement (DDA) to give site control to the developer so that the developer can entitle the project at developer’s expense. The Wildomar DDA was scheduled to go to the Board on December 17 th but had to be pushed back to January 7, 2019.  Developer has agreed to pay back the County bridge loan ($1,600,000) upon construction loan financing of phase I of the project.  The County’s contribution to this project will be the land. Housing Authority Subsidy Assistance and Report (October 2019) – 1 st District totals:  Section 8 Program – 1,940 families were assisted in the month of October; $1,361,031 was expended in Housing Assistance Payments.  Affordable Apartment Units: 112 units total consisting of 3 apartment communities. One community in the City of Riverside (68 units) & two communities in the City of Lake Elsinore (a 28 unit community and a 16 unit community). Wildomar Housing Project, Wildomar (Developer – Palm Communities):  Developer is proposing to build out this project in 3 separate phases.

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