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HomeMy WebLinkAboutPublic Hearing - Housing Element Amendment No 92-1 - Negativ STATE OF CAUFORNIA County of Orange I am a Citizen of the United States and a resident of the County aforesaid; I am over the age of eighteen years, and not a party to or interested in the below entitled matter. I am a principal clerk of the HUNTINGTON BEACH PUBuc NoricE coasTAt STATUS=Not NOTICE OF I applicable ` e INDEPENDENT, a newspaper of general _� to FILE A copy of the PUBLIC HEARINSi- , ppropposed=request s ve file ,� HOUSING .ELEMENT in the CommunityDevelop- circulation, printed and puullshed In the City of AMENDMENT NO. 92-1/ ment Department, '2000 Negative Declaration No. Main.Street, Huntington Huntington Bbach, County of Orange, State of 92-25 Beach,.-:California 92648, (Preservation of Assisted .for Inspection by tha pub- California, and that attached Notice is a true and Housln tic A copy oftthe start re- NOTI E ,IS HEREBY port willaie°f'availa6te to In- com complete co as was printed and published in =GIVEN that`the Huntington sterested p,arties'atrCity Hall P PY P Pu Beach city: Council will or the .Main city Library hold a public hearing In the t((7111+Talbert Avenue)after the Huntington Beach and Fountain Valley Council Chamber-.at the' iw,7ctober28,1992 Huntington; Beach-4CIVIC 'ALL IjEgESTEL' PER: issues of said newspaper to wit the issue(s) of: Center 2000 Main Streeti 30NS 8re inVited,ao attend yuntington•Beach,yCelifor '�tsaid hearing and ::express nia,on.the date and atitheopINons. or submitf evi i time indicated bolow-to,r& Bence:for or against the. ceive and consider to application as outline nts d stateme ' of all persons abbove.if you challenge the I who wish to be heard vela' `.City Council s.:-action In flve`to the application,de-� court you may be limited October 22 19 9 2 scribed below. s , ' i , to ralsinb'onlylthose Issues I ► DATE/TIME: Monday; No- you', o,r someone else:i vember 2,1992,7 00 PM; raised 3t�the`public hearing i APPLICATION NUMBER:I described in this_noti a 'or.- Housing-Element Amend-- . in written. cgrrespanoence i ment•No. 92 1/Neg. Dec:, delivere ,'tWjhe.City Clerk 92-35 at or prlor,to the public APPELLANT: City of Hun 1 hearing If there.are any i tin on Beach I ' further +questions please, LOCATION:Clty=wide I call,GregBrown Develop-1 ZONE:N/A I ment Speciallgtat 536a REQUEST: To amend the 5271 xR } Housing Element-to include ,Connie .Brockway; .on evaluation of the poten i City Clerk tial for currently rent re` WU tington. Beaolr Istricted low Income hous-' ��City Coundil ing units to convert to non' 2000 Main Street` low,Income housing and propose.programs to pre; Huntington:•Beach;.CA serve or replace those. 92648'(.fM)53"2V units. This amendment wily published"`Huntington} bring the Housing Element 'Beach-Fountain`Valle In into compliance with the i y ..- I declare under penalty of perjury, that the Government Code Section dependent'October 22 65583(a)(8),(1)(6). 1992. . ENVIRONNMEENTTAL STA- 104 28. foregoing is true and correct. TUS: Negative Declaration No..92-25 has been prev- pared and advertised for a 30 day comment period, Executed on October 22 199 Z Which expired on JulyY'117, 1992. This Negative Dacia- at Costa esa California. ration was considered--by the`Planning !^c.mmission Lab will also<be°•;:onsldered 1 by he Citv_Gouncll. Signature , 1 � v , PROOF OF PUBLICATION RESOLUTION NO. 6446 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HUNTINGTON BEACH ADOPTING HOUSING ELEMENT AMENDMENT NO. 92-1 AND NEGATIVE DECLARATION NO. 92-25 WHEREAS, Section 65302(c) of the Government Code of the State of California requires all cities and counties to include a housing element as part of their general plans; and WHEREAS, Section 65583(a) (8) , (c) (6) requires that the City' s Housing Element be' amended to include on analysis of housing "at risk" of conversion from low-income use to "market" housing and to propose programs to preserve or replace those units; and The City Council desires to update the Housing Element in accordance with State Law and to recognize changing community needs and objectives; and Housing Element Amendment No. 92-1 is necessary to bring the Housing Element into compliance with Government Code Section 675583 (a) (8) , (c) (6) ; and A public hearing on the adoption of the Housing Element Amendment No. 89-1 to the General Plan and Negative Declaration No . 90-11 was held by the Planning commission on September 15, 1992; and The City Council, after giving notice as prescribed by law, held at least one public hearing to consider said Housing Element Amendment No. 92-1 and Negative Declaration No. 92-25; and NOW, THEREFORE, BE IT RESOLVED, that the City Council of 10/92 : 361: SLk 1. the City of Huntington Beach hereby adopts said amendment and negative declaration to the Housing Element of the City of Huntington Beach.. PASSED AND ADOPTED by the City Council of the City of Huntington Beach at a regular meeting thereof held on the 16th day of NCovember 1992 . �aC��ZI/.CZc� Mayor ATTES � APPROVED AS TO FORM: e4 9:�� - 1.! zLez:L City Clerk i0 ��_City Attorney � �p5-9a• REVIEWED AND APPROVED: INITIATED AND APPROVED: Cto'y Administrator Di ector of Community=Development 10/92 : 361:SLk 2 Res. No. 6446.- STATE OF CALIFORNIA COUNTY OF ORANGE ss: CITY OF HUNTINGTON BEACH ) I, CONNIE BROCKWAY, the duly elected, qualified City Clerk of the City of Huntington Beach, and ex-officio Clerk of the City Council of said City, do hereby certify that the whole number of members of the City Council of the City of Huntington Beach is seven; that the foregoing resolution was passed and adopted by the affirmative vote of at least a majority of all the members of said City Council at a regular meeting thereof held on the 16th day of November 19 92 , by the following vote: AYES: Councilmembers: Winchell, Silva, Green, MacAllister NOES: Councilmembers: None ABSENT: Councilmembers: Robitaille, Moulton--Patterson, (vacant seat) City Ller ana ex-officionler of the City Council of the City of Huntington Beach, California y, k...N, J. s+�.,F;'.;•a• 4 FJi` }r'•1i%r:�' 'f�:1.(•J``,,'k r7. yf' ,.r.'x'm t.. ,i. ' -� , Mile", 1 M`� %.� fig,• �}�Yto t.�r$+t Y ..yt: �3'. 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Vulcan Avenue, Suite 205 Encinitas, CA 92024 CITY OF HUNTINGTON BEACH PRESERVATION OF ASSISTED HOUSING: ' ANALYSIS AND PROGRAMS TABLE OF CONTENTS Section Page INTRODUCTION 1 INVENTORY OF UNITS AT RISK 2 COST ANALYSIS 10 COST COMPARISONS 18 RESOURCES FOR PRESERVATION 19 QUANTIFIED OBJECTIVES 22 PROGRAMS FOR PRESERVATION 22 1 ' Time Frame: At least one year prior to subsidy termination, as identified in the schedule presented for monitoring units at risk. ' Responsible Agency: Department of Community Development. Funding Source: Department Budget, CDBG. ' J Encourage Project Owners to Participate in Section 8 Program: If detailed g P 8�' analysis and negotiation with projects owners indicate that long-term rent restrictions cannot be secured on the units, the City will encourage owners to participate in the Section 8 rent subsidy program. The City will act as the liaison between the County Housing Authority and the "at risk" project owners. The ' City will target this program effort to projects such as Rivermeadows and Huntington Village where differentials in rental rates between restricted and market rate units are small. Time Frame: Continually monitor status of extension of low-income use restrictions and encourage property owners to participate in the County Housing Authority Section 8 rent subsidy program immediately upon notification of owners' decision to discontinue low-income use. ' Responsible Agency: Department of Community Development. ' Funding Source: Department Administrative Budget. Assist Tenants of Existing Rent-Restricted Units to Obtain Priority Status on ' Section 8 Waiting List: The Orange County Housing Authority has established three categories of priority applicants to receive Section 8 certificates: 1) evicted or homeless households; 2) households living in substandard housing units; and 3) ' households paying more than 50 percent of income for rent and utilities. The City will assist tenants of "at risk" units to obtain priority status if there were a conversion to market rate and if tenants' income and housing costs meet eligibility requirements. ' Time Frame: Continually monitor status of extension of low-income use ' restrictions and assist tenants to apply for priority status immediately upon notification of owners' decision to discontinue low-income use. Responsible Agency. Department of Community Development. Funding Source: Department Administrative Budget. 25 •NOTICE OF PUBLIC HEARING HOUSING ELEMENT AMENDMENT NO. 92-1/ Negative Declaration No. 92-25 (Preservation of Assisted Housing) NOTICE IS HEREBY GIVEN that the Huntington Beach City Council will hold a public hearing in the Council Chamber at the Huntington Beach Civic Center, 2000 Main Street, Huntington Beach, California, on the date and at the time indicated below to receive and consider the statements of all persons who wish to be heard relative to the application described below. DATE/TIME: Monday, November 16, 1992, 7:00 PM APPLICATION NUMBER: Housing Element Amendment No. 92-1/Neg. Dec. 92-25 APPLICANT: City of Huntington Beach LOCATION: City-wide ZONE: N/A REQUEST: To amend the Housing Element to include on evaluation of the potential for currently rent restricted low income housing units to convert to non low income housing and propose programs to preserve or replace those units. This amendment will bring the Housing Element into compliance with Government Code Section 65583(a) (8) , (c) (6) . ENVIRONMENTAL STATUS: Negative Declaration No. 92-25 has been prepared and advertised for a 30 day comment period, which expired on July 17, 1992 . This Negative Declaration was considered by the Planning Commission and will also be considered by the City Council. COASTAL STATUS: Not applicable ON FILE: A copy of the proposed request is on file in the Community Development Department, 2000 Main Street, Huntington Beach, California 92648, for inspection by the public. A copy of the staff report will be available to interested parties at City Hall or the Main City Library (7111 Talbert Avenue) after October 28, 1992. ALL INTERESTED PERSONS are invited to attend said hearing and express opinions or submit evidence for or against the application as outlined above. If you challenge the City Council ' s action in court, you may be limited to raising only those issues you or someone else raised at the public hearing described in this notice, or in written correspondence delivered to the City Clerk at, or prior to, the public hearing. If there are any further questions please call Greg Brown, Development Specialist at 536-5271. Connie Brockway, City Clerk Huntington Beach City Council 2000 Main Street (1646D) Huntington Beach, CA 92648 (714) 536-5227 t . . • /� i 2= REQUEST FOR CITY COUNCiPNCTION ?uLvc 4earin eA (� ��S• �/��Date November 16, 1992 Submitted to: Honorable Mayor and City Council Members Submitted by: Michael T. Uberuaga, City Administrator6W Prepared by: Michael Adams, Director of Community Developme Subject: HOUSING ELEMENT AMENDMENT NO. 92-1/NEGATIVE DECLARATION NO.92-25--UNITS "AT RISK" Consistent with Council Policy? [X] Yes [ ] New Policy or Exception X4,j W— Statement of Issue, Recommendation,Analysis, Funding Source, Alternative Actions, Attachments: STATEMENT OF ISSUE: Housing Element Amendment No. 92-1 is an analysis of the potential for rent restricted low income housing units to convert to non-low income (or "market") housing. The analysis also proposes programs to preserve, or replace, those units. This amendment is required by Government Code Section 675583(a) (8) , (c) (6) . RECOMMENDATION• Staff Recommendation: Motion to: Approve Negative Declaration No. 92-25 and approve Housing Element No. 92-1 with findings . PLANNING COMMISSION ACTION ON SEPTEMBER 15, 1992: A MOTION WAS MADE BY RICHARDSON, SECOND BY SHOMAKER, TO APPROVE NEGATIVE DECLARATION NO. 92-25 BY THE FOLLOWING VOTE: AYES: Inglee, Bourguignon, Richardson, Shomaker, Dettloff, Newman, Leipzig NOES: None ABSENT: None ABSTAIN: None MOTION PASSED• A MOTION WAS MADE BY RICHARDSON, SECOND BY SHOMAKER TO APPROVE THE DRAFT HOUSING ELEMENT AMENDMENT BY THE FOLLOWING VOTE: AYES: Inglee, Bourguignon, Richardson, Shomaker, Dettloff, Newman, Leipzig NOES: None ABSENT: None ABSTAIN: None i PIO 5/85 FINDINGS FOR APPROVAL - HOUSING ELEMENT AMENDMENT NO, 92-1: 1. Section 65583 of the California Government Code requires that the City' s Housing Element be amended to include an analysis of housing units at risk of conversion from low income to market rate and that programs be proposed to preserve or replace those units . 2. Housing Element Amendment No. 92-1 has been prepared in order to address at risk housing units and propose programs to preserve or replace those units . 3 . Housing Element Amendment No. 92-1 has been prepared in accordance with State Housing Element and General Plan Amendment Guidelines. 4 . Housing Element Amendment No. 92-1 is necessary to bring the Housing Element into compliance with Government Code Section 65583 . ANALYSIS• The Huntington Beach Housing Element was adopted in July, 1990 as part of the 1989-1994 update cycle for jurisdictions in the SCAG region. The State Department of Housing and Community Development has determined the Element to be in compliance with State law. This report amends the Huntington Beach Housing Element, and will be integrated within the Housing Element. The purpose of this amendment is to bring the Housing Element into compliance with a recent amendment of housing element law, codified in Government code Section 65583 (a) (8) , (c) (6) . Under this law, jurisdictions must evaluate the potential for currently rent restricted low-income housing units to convert to non-low income housing and propose programs to preserve or replace those units. Consistent with State requirements, this report includes the following five (5) components: 1. An inventory of restricted low-income housing projects in the City and their potential for conversion; 2 . An analysis of the costs of preserving and/or replacing the units "at-risk" and a comparison of these costs; 3 . An analysis of the organizational and financial resources available for preserving and/or replacing the units "at-risk" ; 4 . Quantified objectives for the number of "at-risk" units to be preserved; and 5. Programs for preserving the "at-risk" units . The State requires that the analysis include projects that are at risk of converting during the next five (5) year Housing Element update periods. For Huntington Beach, this period extends from July 1, 1989 to July 1, 1999 . RCA 11/16/92 - 2 - (4657d) The inventory of at risk units include all multi-family rental units assisted under federal, state, and/or local programs, including HUD programs, state and local bond programs, redevelopment programs, and local in-lieu fees, inclusionary, density bonus, or direct assistance programs. The _inventory covers all units that are eligible to change to non-low income housing uses due to termination of subsidy contract, mortgage prepayment, or expiring use restrictions . The inventory was compiled by interviews with City staff, the County Housing Authority, HUD, and review of "Inventory of Federally Subsidized Low-Income Rental Units at Risk of Conversion" (California Housing Partnership Corporation) , and "The Use of Housing Revenue Bond Proceeds - 1990" , (California Debt Advisory Commission) . Description of At-Risk Projects Huntington Beach has three (3) federally assisted rental housing projects .at risk of conversion prior to July, 1999 . Two (2) projects, Huntington Villa Yorba and Huntington Beach Gardens, are subsidized under the Section 236(J) (1) program and are eligible for mortgage prepayment. Under this program, projects receive reduced interest mortgage loans from HUD in exchange for low-income use restrictions on all units in the project. Projects carry 40 year mortgages with the option to prepay the loan after 20 years and opt out of the affordability controls. The earliest potential conversion date for the 198-unit Huntington Villa Yorba project is . May, 1992 and April, 1996 for the 66-unit Huntington Beach Gardens project. The other "at-risk" HUD project in Huntington Beach is Wycliffe Gardens . Wycliffe Gardens is a 185-unit Section 231 elderly housing project which is not eligible to prepay its mortgage. However, Wycliffe Gardens maintains a Section 8 contract for all 185 units . The Section 8 contract is due to expire in March, 1996 . In addition to the three (3) at risk HUD projects, Huntington Beach has five (5) rental housing projects assisted under the City' s Multi-Family Mortgage Revenue Bond Program -- Seabridge Villas, Harbor Gateway, Rivermeadows, Huntington Village, and Huntington Breakers. Under this program, the City provides preferential financing for multi-family rental housing projects in exchange for ten (10) year low-income use restrictions on 20 % of the units in each project. According to the bond agreements, at total of 211 units in the City' s five (5) bond projects are rent-restricted, although 240 units are currently renting to lower income households . The 1992 low-income limit utilized in the bond projects is based on a HUD median family income of $52,700 for the Anaheim-Santa Ana region. Low-income units in the City' s five (5) bond projects are subject to the following expiration dates : Project Project No. of Units Potential Name Address At Risk Conversion Date Seabridge Villas 20251 Cape Coral Lane 69 2/95 Harbor Gateway 4691 Warner Avenue 20 10/95 Rivermeadows 8945 Riverbend 31 10/95 Huntington Village 16171 Springdale Ave. 23 11/96 Huntington Breakers 21270 Beach Blvd. 68 7/99 RCA 11/16/92 - 3 - (4657d) Preservation Costs Preservation of the at risk units can be achieved in different ways depending on the financing mechanisms used and the legal provisions and incentives regulating the affordability of these units . Options available for the preservation of the at-risk units include: 1) preserve the projects as low-income by offering additional federal incentives to the projects; 2) facilitate the transfer of ownership of these projects to or purchase of similar units by non-profit organizations; 3) refinance mortgage on projects to extend affordability controls; or 4) assist qualified tenants in obtaining Section 8 certificates from the Orange County Housing Authority. All but the refinancing option are applicable to HUD prepayment eligible projects . At-risk units primarily subsidized with Section 8 contracts may be preserved by transferring ownership, purchasing similar units, or using Section 8 certificates. At-risk units in City mortgage revenue bond projects may be preserved by purchasing similar units, using Section 8 certificates, or refinancing the bonds. A summary of the four (4) major preservation options are as follows : Continue as Low-Income with Federal Incentives - Under LIHPRHA, HUD mortgage prepayment eligible projects may choose to continue as low-income in exchange for additional federal incentives . Incentives include: rent increases to guarantee an eight (8) percent return on project investment; Section 9 contract to cover both very low and low-income tenants, and 241(f) equity take-out loan. Once extended, affordability controls on the project will remain effective for the remaining useful life (approximately an additional 50 years) of the project . Transfer Ownership/Purchase of Similar Units - Another preservation option is to transfer ownership of the projects with at risk units to community-based non-profit or government entity, such as the Orange County Housing Authority. By transferring the ownership of these projects to non-profit housing organizations, low-income use restrictions can be secured, and the projects will become eligible for a greater range of government assistance programs . Refinance Mortgage Revenue Bonds - Another option to preserve the low-income use restrictions on the five (5) City multi-family housing bond projects is to refinance the mortgage revenue bonds that were issued to the respective owners . If refinanced, the projects would be required by the 1986 Tax Reform Act to commit their 20% low-income units for the greater of 15 years or as long as the bonds are outstanding . Rent Subsidy - When the low-income use restrictions on the at-risk units expire and units are converted to market rate, Section 8 certificates can be used to subsidize the property owners for extending the affordability of those units . Under the Section 8 certificate program, HUD pays owners the difference between what tenants can pay (defined as 30 percent of household income) and what HUD and the local Housing Authority estimate to be Fair market Rent on the unit. RCA 11/16/92 - 4 - (4657d) • Policies and Programs Two . (2) major policies are suggested to guide the presentation of at-risk units : Policy 1 - Attempt to preserve low-income housing in the City that is at risk of converting to market rate by monitoring the status of prepayment-eligible and bond-financed projects, and identifying financial and organizational resources available to preserve these units. Policy 2 - Pursue a program that would offer developers an opportunity to purchase at-risk units as a means of satisfying affordable housing requirements that may be conditioned upon their projects . In addition to these plans, several programs have been developed that could provide a conceptual framework for presentation. At this point, these programs are purposefully vague in order that they can be expanded, changed, or deleted during the 1994 Housing Element update. Monitor Units at Risk - Regularly monitor the status of the at-risk projects. Pursuant to Government Code Section 65863 . 10, the City will inform the tenants of the status of their projects at least one (1) year in advance of the potential conversion date. Pursue Bond Refinancing - Seabridge Villas, Harbor Gateway, Rivermeadows, Huntington Village, and Huntington Breakers are financed under the City' s Mortgage Revenue Bond Program. The City will coordinate with the owners of at risk projects to encourage bond refinancing to extend low income use restrictions for a minimum of 15 years starting from the issuance of the initial bonds. Work with Potential Priority Purchasers - Establish contact with public and non-profit agencies interested in purchasing and/or managing units at risk to inform them of the status of at-risk projects. Where feasible, provide technical assistance to these organizations with respect to financing. Coordinate with the Orange County Affordable Housing Clearinghouse in assisting priority purchasers to obtain financing. Facilitate Tenant Purchase of Units - Tenant purchase of at-risk units is a feasible preservation option if owners of Huntington Villa Yorba and Huntington Beach Gardens file Notices of Intent to indicate the desire to sell the projects or negotiation between the owners and HUD fail to preserve the two (2) projects as low-income housing. The City will facilitate tenant purchase of the two (2) projects as . low-income housing. The City will facilitate tenant purchase of the two (2) projects by providing technical assistance in financing, organizing tenant associations as priority purchasers, coordinating with non-profit housing organizations, and encouraging tenant participation in the prepayment process. The City will begin working with .the Orange County Affordable Housing Clearinghouse to establish a program to provide preferential financing, and potentially down payment assistance, for low-income tenants wishing to purchase their units . RCA 11/16/92 - 5 - (4657d) w 1 ,1 • • Encourage Project Owners to Participate in Section 8 Program - If detailed analysis and negotiation with projects owners indicate that long-term rent restrictions cannot be secured on the units, the City will encourage owners to participate in the Section 8 rent subsidy program. The City will act as the liaison between the County Housing Authority and the at-risk project owners. The City will target this program effort to projects such as Rivermeadows and Huntington Village where differentials in rental rates between restricted and market rate units are small. Assist Tenants of Existing Rent-Restricted Units to Obtain Priority Status on Section '8 Waiting List - The Orange County Housing authority has established three (3) categories of. priority applicants to receive Section 8 certificates: 1) evicted or homeless households; 2) households living in substandard housing units; and 3) households paying more then 50 percent of income for rent and utilities. The City will assist tenants of at-risk units to obtain priority status if there were a conversion to market rate and if tenants ' income and housing costs meet eligibility requirements . Tenant Education - The City will work with tenants of at-risk units in danger of conversion. The City will provide tenants with education regarding potential tenant purchase- of buildings and act as a liaison between tenants and non-profits potentially involved in constructing or acquiring replacement housing. The City will also provide tenants in at-risk projects information regarding Section 8 rent subsidies through the Orange County Housing Authority. The likelihood of these programs being successful is not known by staff, as no local communities have applied these programs in a "real time" situation; that is, localities with these subsidized units are anticipating their conversion within the next one (1) to two (2) years, but have not already implemented programs like these. Staff is following the very credible advice of the consultant and the . Department of Housing and Community Development (HCD) . In fact., HCD gave preliminary approval of the amendment on September 4, 1992. FUNDING SOURCE: No funds required. ALTERNATIVE ACTIONS: Continue City Council Action to November 2, 1992 with the public hearing open for the Draft Housing Element Amendment and Negative Declaration No. 92-25. ATTACHMENTS 1. Resolution No. 2 . Draft Housing Element Amendement 3 . Letter from the State Department of Housing and Community Development Dated September 3, 1992. 4 . Negative Declaration No. 92-25 Dated September 15, 1992 . MTU:MA:HS:GB:ee RCA 11/16/92 - 6 - (4657d) � 4 t STATE OF CAUFORNIA - County of Orange I am a Citizen of the United States and a resident of the County aforesaid; I am over the age of eighteen years, and not a party to or interested in the below entitled matter. I am a �eS� ��6 — R-�O 7-n principal clerk of the HUNTiNGTON BEACH INDEPENDENT, a nswsaaper of gensral circulation, panted and published in the City of -� -,- Q 0`1 PUBLIC NOTICE- I ration was�4'considered by Huntington B;isach County of Orange State Of NOTICE OF the Planning Commission; .� andEwilisalsotbe considered. w RESCHEDULING OF b&the Crty.Council I and that attached Notice is a true and r PUBUC`HEaRING I COASTAL_:STATUS' Not Caliifomia, a -. HOUSING ELEMENTS applicable , complete co as was anted and published In tAe a lve NT 'NO 92=o. ON FILE A copy of the p PY p • pV !Negative Declaration No I proposed request is on file 92-25'Preservation of As `" ( m the Commundy Develop the Huntington Beach and Fountain Valley i'!.ledHousing) i ,meat Department _2000 NOTICE IS HEREBY Main^!Street Huntington issues of said newspaperto wit the issue(s) of: GIVEN that the Huntington ,Beach -.California 92648! Beach CityCouncil Will 'for ins•ec9 ri- the pub= p...._ x- 4� j hold a public hearing in the lic:.A copy;of the staff sre Council Chamber at the port will_lie avallable'to in-: Huntington Beach Civic teeested artlea at City Hall Center; 2000 Main Street! p or the =Main City- Library', Huntington.-Beach; Califor i (71:11 Talbert Avenue)after_ nia, on the.date and at the °October28,:1992 : time;mdicafed of ail per i ALL INTERESTED,;.PER soils"Who wish to be heard SONS areanvded to attend relative -to the application said hearin' and ox reps October 29 r 1992 described•below. Opinionsr!o, submit'qvi- DATElrIME: NEW-DATE; ,d_ence for aor .against S`the i Monday agphcatjon; as4 outll4cli November f, 1 1992, 7 00 "above If you challenge the! PM.'(HAD BEEN ORIGI, City Council§ action;in, NALLY_SCHEDULED FOR court you`'may9betlimited, NOVEMBER 2,1992) to raising only those Issues. APPLICATION NUMBER: you or someone•'-else Housing Element Amend; raised,at.tiie public hearing: ment.No. 92-1/Neg:- Dec: described in this;notice:or, 92'25'r ; in written corre'spondence APPLICANT: City of Hun; I thO%City Clerk! tin ton,Beach — to the LOCATION:City-wide a3o public� ZONE N/A Fanng If,there are a REQUEST. To ame nd the rther questions pleat Housing Element to Include call'Greg=,Brown; Develop on evaluation of the poten j iment Specialist at-53& tial for currently rent re 5271,. ,. stricted low housing urtrts Connie Brockway, to convert to non low;in�- City Clerk I declare, under perjury,enalty of that the come housing and propose Pprograms to preserve or re= Huntington Beach foregoing is true and correct place' those units. Thin City Coundit ameniJment will bring the' 2Q00itClYl il[W Street, Housing Element Into-Win in Huntington B@9Ch;'C/1 piano; with Go%tgnrr enti fb2648(714)536.5227. Executed on October 2 9 r 19g?- Code,Section 65583(a) (8) £p b11R69 unt ngtonj (c)(6): � BTAL­SfA­1 each Fouhtam,Valley in at Costa Me a, Cailfomla. TUSV�Negatl Negative arat onj dependentff October r29 No: 92-25 has been pre 1992 pared and advertised for al t0545 30 day-,,comment period,] - which-expired on_July i,7,+ '1992.-This Neaative_Decla- Signsture PROOF OF PUBLICATION d - :F 1 CITY OF HUNTINGTON BEACH PRESERVATION OF ASSISTED HOUSING: ' ANALYSIS AND PROGRAMS 1 LIST OF TABLES Page Table 1 Assisted Housing Inventory 3 Table 2 Monthly Basic Rents for Section 8 Units 9 Table 3 Monthly Rents for Mortgage Revenue Bond Units 10 Table 4 Costs of Transferring Ownership/ Purchase of Similar Units - 13 Table 5 Estimated Tenant Profile of At-Risk Units 16 Table 6 Replacement Costs Per Unit 17 LIST OF FIGURES Figure 1 Process for Prepayment Eligible Projects Under LIHPRHA 7 1 1 1 1 1 1 1 INTRODUCTION The Huntington Beach Housing Element was adopted in July, 1990 as part of the 1989-1994 update cycle for jurisdictions in the SCAG region. The State Department of Housing and Community Development has determined the Element to be in compliance with State law. This report amends the Huntington Beach Housing Element, and will be integrated within the Housing Element upon the next periodic review of the Element in 1994. The purpose of this amendment is to bring the Housing ' Element into compliance with a recent amendment of housing element law, codified in Government Code Section 65583 (a)(8), (c)(6). Under this law, jurisdictions must evaluate the potential for currently rent restricted low-income ' housing units to convert to non-low-income housing and propose programs to preserve or replace those units. Consistent with State requirements, this report includes the following five components: 1. An inventory of restricted low-income housing projects in the City and their potential for conversion; 2. An analysis of the costs of preserving and/or replacing the units "at- risk" and a comparison of these costs; ' 3. An analysis of the organizational and financial resources available for preserving and/or replacing the units "at risk"; 1 4. Quantified objectives for the number of "at-risk" units to be preserved; 5. Programs for preserving the at-risk units. The State requires that the analysis include projects that are at risk of converting during the next two five-year Housing Element update periods. For Huntington Beach, this period extends from July 1, 1989 to July 1, 1999. ' 1 i INVENTORY OF UNITS AT RISK This section identifies the low income housing units at risk of converting to non- low income housing uses prior to July, 1999 and evaluates the likelihood of conversion. The inventory includes all multi-family rental units assisted under federal, state, and/or local programs, including HUD programs, state and local bond programs, redevelopment programs, and local in-lieu fees, inclusionary, density bonus, or ' direct assistance programs. The inventory covers all units that are eligible to change to non-low income housing uses due to termination of subsidy contract, mortgage prepayment, or expiring use restrictions. The inventory was complied by interviews with City staff, the County Housing Authority, HUD, and review of "Inventory of Federally Subsidized Low-Income Rental Units at Risk of Conversion" (California Housing Partnership Corporation), and "The Use of Housing Revenue Bond Proceeds - 1990", (California Debt Advisory 1 Commission). Table 1 presents an inventory of all low-income assisted rental housing in Huntington Beach. The City has nine subsidized rental housing projects in its jurisdiction; eight of these projects contain units that are eligible to convert to non-low income uses before July 1, 1999. Only one project - Huntington Villa Yorba - is at risk of conversion prior to July 1, 1994. ' Surfside Villas is a 75-unit family housing project assisted under HUD's Section 221(D)(4) program with a 20-year Section 8 contract due to expire in the year 2002. Projects financed under the Section 221(D)(4) market rate program alone have no binding income use restrictions. Affordability for Surfside Villas is, however, controlled by the 20-year Section 8 contract. When the contract expires ' in the year 2002, the owner of Surfside Villas can choose to opt out of Section 8 program as long as a Notice of Intent is filed one year prior to contract expiration. The conversion potential and costs of preservation associated with ' this project will be analyzed in detail in the next Huntington Beach housing element update. ! 2 �r rr rr r �■r rr rr ■r r ■r r it �- �..--�.. - or M M �r TABLE 1 CITY OF HUNTINGTON BEACH ASSISTED HOUSING INVENTORY Length of Affordability Earliest Total # Type(s) of Controls Potential # of Units of Units Tenant Type Proj. Name Owner: Gov't (including Conversion Subject to in (i.e. Elderly, At-Risk Units Date Address Name, Address Assistance Sec. 8) Date(s) Conversion Project Family) Bedroom Mix Built Condition Huntington Villa Yorba Huntington Villa Assoc. HUD 40-year mortgage; 9/93 198 198 Family 21 -1br 1965 Goo 16000 Villa Yorba 1800 Ave of the Stars, 236(J)(1) 20-year prepay- 157 -2br ile Huntington Beach Ste. 1400 ment option 20 3br CA 92648 Los Angeles, CA 90067 Huntington Beach Huntington Beach HUD 40-year mortgage; 4/15/96 66 66 Family 15- 1 br 1975 Good Gardens Gardens 236(J)(1) 20-year 33-2br 16900 Algonquin c/o Southwest prepayment option 18-3br Huntington Beach Development Co. CA 92648 260 Maple Ct. Ste. 205 Ventura, CA 93003 Section 8 6/25/94 6 66 Wycliffe Gardens Wycliffe Assoc. HUD 231 40-year mortgage; — — 185 Elderly 185-1br 1981 Very Good 18765 Florida Ave. 202 S. Prospect Ave. No prepayment Huntington Beach Orange, CA 92669 option CA 92648 Section 8 15-year contract 3/12/96 185 185 Seabridge Villas JMB Institutional City Multi- 10-year 2/95 69 344 Family 56-1br 1984 Very G 20251 Cape Coral Ln 875 N. Michigan Ave., Family 13-2br Huntington Beach Ste. 3900 Revenue CA 92648 Chicago, II 60611 Bond Harbor Gateway Lincoln Property City Multi- 10-year 10/95 20 102 Family 14-1br 1986 Very Good 4691 Warner Ave. 17011 Beach Blvd. Family 6-2br Huntington Beach Ste. 1400 Revenue CA 92648 Huntington Beach, CA Bond 92647 � � � � � � � � � � r � �--....--.■Its.-- was �111 � � TABLE 1 CITY OF HUNTINGTON BEACH ASSISTED HOUSING INVENTORY (continued) Length of Affordability Earliest Total # Type(s) of Controls Potential # of Units of Units Tenant Type Proj. Name Owner: Gov't (including Conversion Subject to in (i.e. Elderly, At-Risk Units Date Address Name,Address Assistance Sec.8) Datg(s) Conversion Projject Family) Bedroom Mix Built Conditio Rivermeadows Fritz.Hoelscher City Multi- 10-year 10/95 31 152 Family 31 -1 br 1985 Very Goo 8945 Riverbend 4665 MacArthur Ct. Family Huntington Beach Ste.275 Revenue CA 92648 Newport Beach, CA Bond 92660 Huntington Village William Lyon &Assoc. City Multi- 10-year 11/96 23 114 Elderly 23-1br 1986 Very Good 16171 Springdale 4921 Birch St. Family Huntington Beach Ste 101 Revenue CA 92648 Newport Beach, CA Bond 92660 Huntington Breakers c/o August Financial City Multi- 10-year 7/99 68 342 Family 25-studio 1984 Good 21270 Beach Blvd. Corp. Family (Project refinanced 36-1 br Huntington Beach P.O. Box 22630 Revenue in 1989) 7-2br CA 92648 Long Beach, CA 90801 Bond Surfside Villas Goldrich &Kest HUD — — 0 75 Family 31 -2br 1982 Very Go 7795 Neptune 5150 Overland Ave. 221(D)(4) 22-3br Huntington Beach Culver City, CA 22-4br CA 92648 902350 Section 8 20-year contract 6/15/02 75 75 Source: Compiled by Cotton/Boland/Associates,April, 1992. ' Description of At-Risk Projects 1 Huntington Beach has three federally assisted rental housing projects at risk of conversion prior to July, 1999. Two projects -- Huntington Villa Yorba and Huntington Beach Gardens -- are subsidized under the Section 236(J)(1) program and are eligible for mortgage prepayment. Under this program, projects receive reduced interest mortgage loans from HUD in exchange for low-income use restrictions on all units in the project. Projects carry 40-year mortgages with the option to prepay the loan after 20 years and opt out of the affordability controls. The earliest potential conversion date for the 198-unit Huntington Villa Yorba project is May, 1993 and April, 1996 for the 66-unit Huntington Beach Gardens ' project. The other "at-risk" HUD project in Huntington Beach is Wycliffe Gardens. Wycliffe Gardens is a 185-unit Section 231 elderly housing project which is not eligible to prepay its mortgage. However, Wycliffe Gardens maintains a Section 8 contract for all 185 units. The Section 8 contract is due to expire in March, 1996. ' In addition to the three at-risk HUD projects, Huntington Beach has five rental housing projects assisted under the City's Multi-Family Mortgage Revenue Bond 1 Program - Seabridge Villas, Harbor Gateway, Rivermeadows, Huntington Village, and Huntington Breakers. Under this program, the City provides preferential financing for multi-family rental housing projects in exchange for ten-year low- income use restrictions on 20 percent of the units in each project. According to the bond agreements, a total of 211 units in the City's-five bond projects are rent-restricted, although 240 units are currently renting to lower income households. The 1991 low-income limit utilized in the bond projects is based on a HUD median family income of $52,200 for the Anaheim-Santa Ana region. 1 Low-income units in the City's five bond projects are subject to the following expiration dates. Seabridge Villas is a 344-unit housing project with 69 units set- aside for lower income households. Use restrictions on Seabridge Villas are eligible to expire in February, 1995. Harbor Gateway is 102-unit housing project, with 20 rent-restricted units. Use restrictions on these units are eligible to expire in October, 1995. The 152-unit Rivermeadows has 31 rent-restricted units. Use restriction on this project will expire in October, 1995. Huntington Village is a 114-unit project for elderly. Twenty-three units in Huntington Village are subject to low-income use restrictions due to expire in November, 1996. Huntington Breakers is a 342-unit project built in 1984 with 68 rent-restricted units. The project owner refinanced the bond with the City in 1989, and extended affordability controls until July, 1999. 1 5 1 Conversion Potential A total of 660 low-income units (25 studio, 381 one-bedroom, 216 two-bedroom, ' and 38 three-bedroom units) are at risk of losing some form of public rental assistance in Huntington Beach prior to July, 1999. The likelihood that the "at risk" units will convert to market rate will depend primarily on the availability and attractiveness of incentives encouraging their continued use as low-income housing. This section analyzes the potential for conversion based on the legal provisions and incentives regulating the affordability of these units. HUD Mortgage Prepayment Eligible Units: A total of 264 rental units in Huntington Beach are at risk of converting to non-low-income use through the ' process of prepaying HUD Section 236 loans. Prepayment of Section 236 loans was regulated by the provisions of the Emergency Low-Income Housing Preservation Act (ELIHPA), otherwise known as Title II of the Housing and 1 Community Development Act of 1987. This legislation was subsequently replaced in 1990 by the Low-Income Housing Preservation and Resident Homeownership Act (LIHPRHA, or Title VI of the National Housing Act of 1990). If the owner was eligible for prepayment before September 30, 1991 and filed a "Notice of Intent" to prepay between November 1987 and December 31, 1990, then the owner has the option to use either ELIHPA or LIHPRHA. Project owners must have decided which laws to use by February, 1992. After this date, owners are only eligible to use LIHPRHA, which became effective on May 8, 1992. Given the potential conversion dates of Huntington Villa Yorba ' and Huntington Beach Gardens as indicated in Table 1, prepayment of both projects will be regulated by LIHPRHA. 1 Figure 1 illustrates the process for prepayment eligible projects under LIHPRHA. Under LIHPRHA provisions, owners of prepayment eligible projects can choose to retain project ownership in exchange for additional federal incentives, or sell their properties under a voluntary sale program. Where owners choose to sell, tenants, non-profit and governmental entities are provided with an exclusive 12-month negotiating period. Prepayment and conversion of the housing to I non-low-income use can only occur if there is no willing buyer to purchase a project. A Notice of Intent may be filed up to two years prior to the scheduled prepayment date to indicate the owner's preliminary decision regarding sale of property versus stay-in as low-income. Within nine months after filing the Notice of Intent, the owners must prepare a 'Plan of Action" for submittal to HUD. A Plan of Action must include: any proposed changes in the mortgage or in the regulatory agreements; a description of federal, state, and local incentives that are being requested as part of the effort to own and develop the property; and any proposed plans to transfer the title of the property and/or sell. More specifically, LIHPRHA provides the owners of eligible projects an opportunity to receive additional federal incentives for projects, enabling them to raise rents and refinance a portion of their equity, while extending low-income ' use restrictions for the remaining useful life of the project. The useful life of a 6 1 Huntington Villa Yorba(Section 236(J)(1)) Huntington Beach Gardens (Section 236(J)(1)) if tri c 7 tions Option 1: Continue low-income restrictions with HUD incentives Option 2: Sell to non-profit ofif! t or government entity Option 3: Prepay mortgage and convert to market rate housing 9 Months 1 ........... ....... ............. ............................................. ................................................ ....................... ........... ... ............. Rent increases -Additional Section 8 subsidies -241(f) equity take-out loan 12 Months 1 .:::.::.::::..i.r;�.w:i>,>;r:r;;:<v.:i.»>:f>;:::.:..>A:::.»r,.:.>::.<:..:.>;>F.rr<..,;.,.,�:,<:;: 6 months for HUD and Public Review Renegotiate to extend income use Negotiations with No bona fide restriction for the useful[ HUD fail offer life of the building Note: Refer to page 7 for discussion of D LIHPRHA- Low Income Housing Preservation and Resident Homeownership Act r .te hou, S!. • re.15d Figure 1 Process for Prepayment Eligible Projects Under LIHPRHA ' project refers to the expected physical life of a building with normal maintenance and repairs, as well as replacement of utilities such as plumbing. HUD officials ' have indicated that the useful life of a building is usually 70 years. Thus, use restrictions will be extended for an additional 50 years if owners decide to maintain the projects as low-income under LIHPRHA. HUD will establish standards and procedures for determining when the useful life of a building expires. Under LIHPRHA, the difference between the tenants' portion of the rent (30 percent of income) and market rent in Section 236 projects is covered ' by a Section 8 contract for both very low and low-income tenants. Section 8 Units: Huntington Beach Gardens maintains a Section 8 contract for six of the project's 66 units. Potential expiration date for this Section 8 contract is in June, 1994. Wycliffe Gardens maintains a Section 8 contract for all of the project's 185 units. The Section 8 contract for Wycliffe Gardens will be eligible to expire in March, 1996. Basic rent levels are established for each project with a Section 8 contract with HUD. Basic rent is the maximum Fair Market Rent for an apartment unit. It is ' the maximum amount of rent an owner can collect on a unit from 30 percent of the tenant's income combined with Section 8 subsidies from HUD. As shown in Table 2, both Huntington Beach Gardens and Wycliffe Gardens are receiving ' substantially lower basic rents than average market rate rents in the City or than the maximum Fair Market Rents for Orange County. The projects can potentially command higher rents if the owners decide to opt out of the Section 8 program and convert to market rents. The underlying Section 236 mortgage on Huntington Beach Gardens is subject to LIHPRHA (described above). Under LIHPRHA, project owners can request additional financial incentives from HUD if they choose to extend the length of affordability controls on the project. As long as use restrictions on the Section ' 236 mortgage or an approved Plan of Action pursuant to LIHPRHA are in effect, the Section 8 contract is likely to be renewed. Therefore, the potential expiration of the Section 8 contract for Huntington Beach Gardens will be ' dependent upon the negotiations on the Plan of Action between HUD and the property owners. ' Wycliffe Gardens is funded under HUD's Section 231 program. Low-income use restrictions on the project are locked-in for the full 40-year mortgage term which is not due to expire until April, 2021. Also, as the project is owned by a non- profit entity, its long-term affordability is fairly secure. Discussion with the management of Wycliffe Gardens indicates that the project owners will continue to renew the Section 8 contract. 1 1 8 TABLE 2 MONTHLY BASIC RENTS FOR SECTION 8 UNITS 1 Basic Rent ' (Maximum Fair Market Rent (2) by Project) Huntington (3) Beach Orange County Huntington Average Market Maximum Fair Unit Size Beach Wycliffe Rents Market Rent Gardens 1 Gardens 1 One-bedroom $281 $527 $755-$990 $ 764 Two-bedroom ,$317-$329 $700-$1,025 $ 900 Three-bedroom $361-$510 ---- $850-$1,260 $1,125 tSource: Compiled by Cotton/Beland/Associates, May, 1992. ' Notes: (1) As reported by building managers of Huntington Beach Gardens and Wycliffe Gardens, May, 1992. (2) Survey of rental rates by the City of Huntington Beach, July, 1992. Beach. ' (3) Orange County Housing Authority, May, 1992. This HUD Fair Market Rents schedule includes utility costs to be paid by tenants. Mortgage Revenue Bond Units: A total of 211 low-income units (25 studio, 160 one-bedroom, and 26 two-bedroom units) in five bond projects are at risk of converting to non-low-income use prior to July, 1999. Table 3 presents the ' differentials in rental rates between the rent-restricted and market-rate units in each of the five multi-family mortgage revenue bond projects in Huntington Beach. By analyzing the potential increase in rents achievable through conversion to market rate, the relative incentive for conversion can be assessed. The difference between rental rates in market rate and rent-restricted units are ' more significant in Seabridge Villas, Harbor Gateway, and Huntington Breakers than in Rivermeadows and Huntington Village. Rent differentials between restricted and unrestricted units are most significant in Seabridge Villas, ranging ' potentially from $175 to $275 for a one-bedroom unit and $190 to $325 for a two-bedroom unit. Rent differentials in Huntington Breakers can potentially range from $110 for a studio unit, $150 to 175 for a one-bedroom, and $160 to $185 for a two-bedroom units. In Harbor Gateway, the maximum rent differential is $150 for a one-bedroom unit. Given the rental rates shown in Table 3, there are definite monetary incentives for the owners of Seabridge ' Villas, Harbor Gateway, and Huntington Breakers to convert their units to market rate. If there were a conversion, the economic impacts on the low- income tenants in these three projects would be significant. t 9 TABLE 3 MONTHLY RENTS FOR MORTGAGE REVENUE BOND UNITS i Rent-Restricted Units (1) Market Rate Units (2) IProject Studio 1-Bdrm 2-Bdrm Studio 1-Bdrm 2-Bdrm Seabridge Villas ---- $700 $875 ---- $8754990 $1,06541,200 Harbor Gateway ---- $875 $975 -- $925-$1,025 $1,025 Rivermeadows $750 $790-$860 Huntington Village ---- $710-$725 ---- ---- $7554778 ---- Hun tin ton Breakers $625 $750 $985 $735 $9004925 $1,145-$1,170 Rental Range $625 $700-$875 $8754985 $735 $755-$1,025 $1,02541,200 Source: Compiled by Cotton/Beland/Associates, May, 1992. Notes: (1) Compiled from Yearly Housing Bond Issuance Reports for Fiscal Year 1990-91, and updated by telephone interviews with building management of each project. ' (2) Compiled from telephone interviews with building management of each project and supplemented with information provided by the City of Huntington Beach. COST ANALYSIS ' The following discussion examines both the cost of preserving the units at risk in Huntington Beach ,and the costs of producing new rental housing comparable in ' size and rent levels to replace the units which could convert. A cost estimate has been developed for each option based on information provided from the County Housing Authority, the project's management company, and local developers. ' Actual costs involved in each option will also depend on the rental and real estate market situations at the time the low-income use restrictions on the projects expire. 1 Preservation Costs Preservation of the at risk units can be achieved in different ways depending on the financing mechanisms used and the legal provisions and incentives regulating the affordability of these units. Options available for the preservation of the at- risk units include: 1) preserve the projects as low-income by offering additional federal incentives to the projects; 2) facilitate the transfer of ownership of these projects to or purchase of similar units by non-profit organizations; 3) refinance ' mortgage on projects to extend affordability controls; or 4) assist qualified ' 10 tenants in obtaining Section 8 certificates from the Orange County Housing Authority. ' All but the refinancing option are applicable to HUD prepayment eligible projects. At-risk units primarily subsidized with Section 8 contracts may be preserved by transferring ownership, purchasing similar units, or using Section 8 certificates. At-risk units in City mortgage revenue bond projects may be preserved by purchasing similar units, using Section 8 certificates, or refinancing the bonds. The following estimates the costs associated with each option for at- risk projects in Huntington Beach. Continue as Low-Income with Federal Incentives: Under LIHPRHA, HUD mortgage prepayment eligible projects may choose to continue as low-income in exchange for additional federal incentives. Incentives include: rent increases to guarantee an eight percent return on project investment; Section 8 contract to ' cover both very low and low-income tenants; and 241(f) equity take-out loan. Once extended, affordability controls on the project will remain effective for the remaining useful life (approximately an additional 50 years) of the project. ' HUD has established the Federal Cost Limit to determine a project's eligibility for full federal incentives. As long as a project's annual preservation rent (eight ' percent return on equity, debt services on rehab loan and HUD first mortgage, operating expenses, and reserves combined) does not exceed the Federal Cost Limit, the owner may file a Plan of Action for Full federal incentives. Under ' LIHPRHA., the Federal Cost Limit is currently set at 120 percent of the Section 8 Fair Market Rent or 120 percent of the local market area rent, whichever is greater. As previously shown in Table 2, Section 8 Fair Market Rents in Huntington Beach are substantially lower than market rents. Using Fair Market Rents as ' estimates, monthly Federal Cost Limit for Huntington Villa Yorba is at least $2,158,128 and for Huntington Beach Gardens is $736,920. 'The actual cost comparison to determine eligibility for federal incentives will be performed by HUD officials when the project owners file a Notice of Intent. Transfer Ownership/Purchase of Similar Units: Another preservation option is to transfer ownership of the projects with at risk units to community-based non- profit or government entity, such as the Orange County Housing Authority. By transferring the ownership of these projects to non-profit housing organizations, ' low-income use restrictions can be secured, and the projects will become eligible for a greater range of government assistance programs. ' However, transfer of ownership is more likely an option for HUD prepayment. eligible projects than for City bond projects. Because the bond-financed projects contain only 20 percent rent-restricted units, it is unlikely that the current owners would choose to sell these projects at rates affordable to non-profit entities. ' Therefore, with respect to bond-projects, it would be more feasible to purchase ' 11 similar existing units by non-profits. Also, since Wycliffe Gardens is already owned by a non-profit organization, the following analysis is only relevant to the ' other seven projects with at-risk units. Assessed value for a piece of property is established primarily for tax purposes. Re-assessment of property value occurs only when there is a transfer of ownership; otherwise, inflation on the assessed value is capped at an annual rate of two percent. Therefore, a property's assessed value is usually lower than its ' current market value. However, with the absence of current market value information on the at-risk projects, current assessed values shown in Table 4 are used to establish an order of magnitude reference for estimating preservation costs. Given the good condition of the at-risk projects, maintenance costs are likely to be low. Therefore, it is assumed that rental income and HUD Section 8 ' subsidies will defray monthly mortgage and maintenance costs. Under LIHPRHA, HUD will provide mortgage loan insurance on acquisition loans for up to 95 percent of the equity to priority purchasers. If, theoretically, Huntington ' Villa Yorba and Huntington Beach Gardens were sold to qualified non-profits prior to extending the 20-year mortgages with the current owners, total preservation cost for these two projects would amount to $4,595,047, the sum of ' their valuations. A total downpayment cost of $229,752 would be required - $158,822 for Huntington Villa Yorba and $70,930 for Huntington Beach Gardens. Assuming a 10 percent downpayment to purchase existing units similar to the at- risk units in the bond projects, the potential buyers will need to secure mortgage loans totaling $15,671,658 and total downpayments of $1,741,296, for the purchase of units similar to those in Seabridge Villas, Harbor Gateway, Rivermeadows, Huntington Village, and Huntington Breakers. Table 4 ' summarizes the estimated costs associated with transfer of ownership of each project. 12 i i • ' TABLE 4 COSTS OF TRANSFERRING OWNERSHIP/PURCHASE OF SIMILAR UNITS ' At-Risk Units Assessed At-Risk Units Mortgage Project Value Downpayment Loan Huntington Villa Yorba ' Rent-Restricted Units (100%) $ 3,176,447 $158,822 $ 3,017,624 Huntington Beach Gardens iRent-Restricted Units (100%) $ 1,418,600 $ 70,930 $ 1,347,670 Seabridge Villas ' Entire Project $38,338,740 Rent-Restricted Units (20%) $ 7,667,748 $766,775 $ 6,900,973 Harbor Gateway Entire Project $ 8,149,137 Rent-Restricted Units (20%) $ 1,629,827 $162,983 $ 1,466,844 Rivermeadows Entire Project $16,402,832 Rent-Restricted Units (20%) $ 3,280,566 $328,057 $ 2,952,509 ' Huntington Village Entire Project $ 6,935,141 ' Rent-Restricted Units (20%) $ 1,387,028 $138,703 $ 1,248,325 Huntington Breakers ' Entire Project $17,238,920 Rent-Restricted Units (20%) $ 3,447,784 $344,778 $ 3,103,006 ' Total Rent-Restricted Units $22,008,000 $1,971,048 $20,036,952 Source: Current assessed values obtained from the Orange County Assessor's Office, May, 1992. r ' 13 Refinance Mortgage Revenue Bond: Another option to preserve the low-income use restrictions on the five City multi-family housing bond projects is to refinance ' the mortgage revenue bonds that were issued to the respective owners. If refinanced, the projects would be required by the 1986 Tax Reform Act to ' commit their 20 percent low-income units for the greater of 15 years or as long as the bonds are outstanding. City records indicate a bond total of $25,000,000 was issued to Seabridge Villas, $8,165,000 to Harbor Gateway, $10,000,000 to Rivermeadows, $7,700,000 to Huntington Village, and $16,000,000 to Huntington ' Breakers. To ensure the affordability of the 211 bond-financed income restricted units in Huntington Beach, the City can negotiate with the project owners to refinance the bonds. The costs to refinance each bond would therefore include the difference in interest rates on the remaining debt between the previous and the renegotiated bond packages, an issuance cost which amounts to approximately 3 percent of the bond to be paid upfront by the City, and administrative costs. Project owners may not have a financial incentive to refinance unless the bond ' structures allow for interest rates that are well below rates on the initial bonds, and are combined with other incentives. More often, property owners prefer to either sell the property or to seek refinancing opportunities from private lending ' institutions and therefore be able to opt out of affordability controls. The ten-year use restrictions on the Huntington Breakers low-income units were initially eligible to expire in 1994. The City refinanced the mortgage on Huntington Breakers in 1989 and extended the use restrictions on 20 percent of the units for an additional 5 years until 1999. The City has experience and ' technical expertise in bond refinancing and has expressed the intention to preserve the at-risk units in bond projects by encouraging bond project owners to refinance. The City's Redevelopment Housing Set-Aside fund could be used to refinance mortgage revenue bonds. Rent Subsidy: When the low-income use restrictions on the at-risk units expire and units are converted to market rate, Section 8 certificates can be used to subsidize the property owners for extending the affordability of those units. Under the Section 8 certificate program, HUD pays owners the difference between what tenants can pay (defined as 30 percent of household income) and what HUD and the local Housing Authority estimate to be Fair Market Rent on the unit. ' Section 8 certificates are only available to very low-income households - households earning less than 50 percent of the County median income. The 1992 HUD median income for the Anaheim-Santa Ana region is $52,700. Assuming ' the average very low-income household has an income at 30 percent of the regional median income, the average income of Section 8 recipients in Orange County would be $15,810. Under these assumptions, monthly housing costs affordable to Section 8 recipients are estimated to be approximately $395 (based 14 • on HUD's definition of affordable housing costs as 30 percent of household income). ' According to the Orange County Housing Authority, Fair Market Rent is $630 for a studio unit, $764 for a one-bedroom unit, $900 for a two-bedroom unit, and ' $1,125 for a three-bedroom unit. Thus, the difference between housing cost affordable to very low-income households and the Fair Market Rent is $235 for a studio unit, $369 for a one-bedroom unit, $505 for a two-bedroom unit, and $730 ' for a three-bedroom unit. Because Section 8 certificates are only available to very low-income households, use of Section 8 subsidies as a means of extending affordability controls on the City's at-risk units would not benefit tenants that are low-income. Table 5 estimates the number of very low income tenants in each at-risk project. Approximately half (328) of the rent-restricted units are currently occupied by very low-income households. Given the bedroom mix in each project and the distribution of very low-income households as shown in Table 5, there are an estimated four studio, 227 one-bedroom, 85 two-bedroom, and 12 three-bedroom rent-restricted units currently occupied by very low-income households. Section 8 subsidies required to maintain the affordability of these units would be approximately $136,388 monthly, or $1,636,656 annually. Furthermore, the Orange County Housing Authority Section 8 program has a waiting list of over 15,500 applicants and a waiting period of two to eight years. ' The County Housing Authority Section 8 program has closed applications since November, 1991, though it plans to reopen later this year. 1 15 • tTABLE 5 ESTIMATED TENANT PROFILE OF AT-RISK UNITS Total Lower- Very Low-Income Low-Income Income ' Project Households Households Households HUD Projects ' Huntington Villa Yorba 99 99 198 Huntington Beach Gardens 6 60 66 Wycliffe Gardens 185 0 185 ' Bond-Financed Projects Seabridge Villas 10 59 69 Harbor Gateway 2 18 20 ' Rivermeadows 4 27 31 Huntington Village 12 11 23 Huntington Breakers 10 58 68 ' Total 328 332 660 Source: Compiled by Cotton/Beland/Associates, May, 1992. Note: The Yearly Housing Bond Issuance Reports include the number of very low and low- income households currently residing in the projects. In several instances, there are ' more lower income households in these projects than the required 20 percent. The distribution of very low and low-income households shown in this table has been adjusted to reflect only the 20 percent requirement, assuming half of the households currently ' classified as very low-income under the bond program may not qualify for Section 8 subsidies. Also, the table assumes half of the tenants in Huntington Villa Yorba are very low-income households. 1 1 ' 16 ' Replacement Costs This section analyzes cost of constructing new low-income housing units to replace the 660 assisted units in HUD and bond projects in Huntington Beach should they be converted from low-income uses. The cost of developing new housing depends upon a variety of factors such as density, size of the units (i.e. ' number of bedrooms), location and related land costs, and type of construction. Table 6 shows the average per unit development cost by unit type in Huntington Beach. Based on estimates by City staff, per unit development cost in Huntington Beach is approximately $111,710 for a studio, $122,954 for a one- bedroom, $140,080 for a two-bedroom, and $153,553 for a three-bedroom unit. These estimates are,based on a construction cost of $63 per square foot and include permit processing fees, infrastructure connection fees, and impact fees. Using the per unit cost estimates shown in Table 6, the cost to replace the 660 assisted units in Huntington Beach would run approximately $85,730,548, requiring a minimum downpayment of $8,573,055. This amount is substantially higher than the $22,008,000 preservation cost and related $1,971,048 ' downpayment under a transfer of ownership scenario, the $1,636,656 annual Section 8 subsidies, or the costs (plus administrative fees) to refinance the bonds. ' TABLE 6 REPLACEMENT COSTS PER UNIT Average Construction Total ' Unit Type Unit Size Land Cost/Unit Cost Unit Costs Unit Studio 500 sq. ft. $75,000 $36,710 $111,710 One-bedroom 650 sq. ft. $75,000 $47,954 $122,954 1 Two-bedroom 900 sq. ft. $75,000 $65,080 $140,080 Three-bedroom 1,100 sq. ft. $75,000 $78,553 $153,553 Source: City of Huntington Beach, July, 1992. Note: Per unit costs are estimated on the basis of minimum sizes according to the City's Zoning Code. Cost estimates include: permit fees for building, electrical, plumbing and mechanical permits; impact fees for parks and recreation, schools, library, and traffic; and infrastructure connection and impact fees for sewer (City), sewer (County), water, and water conservation. 1 17 : . • ' COST COMPARISONS Ownershiptransfer usually involves the project in its entirety and thus, is more Y P J Y likely to be used by HUD prepayment eligible projects rather than bond projects where only a portion of the project units are reserved for lower-income households. Also, the costs of transferring ownership of a project to a public or non-profit agency are based on the projects' current values, which are usually ' marked-up to incorporate inflation and profit for the existing owners. Purchase of similar units by non-profit organizations is also costly and purchasing opportunities cannot be guaranteed. The total cost to preserve the 660 at-risk ' units in Huntington Beach or to maintain the assisted housing stock by means of transferring ownership and purchasing similar units is estimated at $22,008,000, with a total downpayment cost of $1,971,048. ' Use of Section 8 subsidies has several drawbacks. First, only very low income households are eligible, rendering only 328 households of the total 660 at-risk ' households in the City eligible for assistance. In addition, rent subsidies do not ensure long-term unit affordability. The costs associated with rent subsidies are high, requiring approximately $1,636,656 annually. HUD is committed to providing subsidies for the preservation of the federally assisted units. For prepayment eligible projects, the most cost-effective option is to encourage the owners to maintain the projects as low-income with federal incentives. Because the costs to refinance an existing bond under the current owner(s) are ' based primarily on he outstanding debt, refinancing the existing bond is probably the least costly preservation option for bond-financed projects. In 1989, the City refinanced the mortgage on Huntington Breakers using a variable interest rate. ' The City can use a similar approach to refinance other bond projects and preserve the at-risk units. 18 RESOURCES FOR PRESERVATION 1 This section discusses two types of resource available for preserving "at risk" Yp P g units: a) financial resources potentially available to purchase or supplement ' existing units, or to build replacement housing, and b) entities with the interest and ability to purchase and/or manage replacement units. 1 Financing/Subsidy Resources There are a variety of potential funding sources available for potential ' acquisition, subsidy, or replacement of units at risk. Due to both the high costs of developing and preserving housing and limitations on both the amount and uses of funds, a variety of funding sources may be required. HUD Funds: Under LIHPRHA, HUD will provide the owners of Huntington Villa Yorba and Huntington Beach Gardens with incentives which enable them to raise rents and refinance a portion of their equity, while extending low-income use restrictions for the remaining useful life of the projects (approximately 50 additional years). The difference between the tenant's portion of the rent and 1 market rent will be covered by Section 8 contracts. Should a nonprofit instead take ownership of the project, the following HUD incentives would be offered: ' 0 Mortgage insurance for acquisition loans for 95 percent of equity. 0 Project-based Section 8 contracts, with HUD-subsidized rents set at ' levels high enough to provide an eight percent return to owners who retain the project or to cover debt service on an acquisition loan for new purchasers; 0 Grants to non-profit buyers that would fill any gap between fair market rent or local market rent (whichever is higher) and allowable ' rents. Redevelopment Set-Aside: The City's Redevelopment Agency has accumulated approximately $3,000,000 in the Redevelopment Housing Set Aside Fund, ' available for future affordable housing activities. The Housing Set Aside Fund can be used for a variety of affordable housing construction and preservation activities including: land disposition and write-downs, site improvements, loans, grants, issuance of bonds, land and building acquisition by Agency, direct housing construction, housing rehabilitation, rent subsidies, redevelopment funds, and administrative costs for non-profit housing corporations. The City is in the 1 process of developing programs and guidelines for the expenditure of the Housing Set Aside Fund. The Set-Aside Fund can potentially be a significant funding source for the preservation of assisted housing. 1 19 ' CDBG Funds: Through the Community Development Block Grant (CDBG) program, HUD provides funds to local governments for funding a wide range of community development activities. As an entitlement jurisdiction, Huntington Beach receives CDBG monies directly from HUD which the City utilizes for a variety of housing and social service activities. For Fiscal Year 1991-92, the City anticipates to receive approximately $2,004,947 of CDBG funds, of which ' $700,000 is committed to housing rehabilitation and $85,650 is committed to homeless services and facilities. The City can potentially direct a portion of the uncommitted CDBG funds toward the preservation of assisted housing. ' General Revenues: The City does not currently fund housing programs out of general revenue funds and, consequently, does not have any general revenue ' funds set aside for housing. Housing Authority Reserves: Other potential sources of funding are the reserves of housing authorities. The Orange County Housing Authority currently has roughly $8.5 million to use to provide housing opportunities throughout the County. This money is subject to some restrictions and priority is given to ' projects which provide for the leverage and recycling of funds. Orange County Affordable Housing Clearinghouse: The Orange County Affordable Housing Clearinghouse is a consortium of lending institutions and community groups focused on providing funds for affordable housing through team lending. Sixteen lending institutions are currently members of the coalition. ' Because the coalition is new and is still in the process of being set up, it does not currently have a track record in the community. However the financial assets and expertise of coalition members suggest that this should be a significant ' source of funds for low-income housing in Orange County in the future. Administrative Resources ' An alternative to providing subsidies to existing owners to keep units available as low income housing is for public or non-profit agencies to acquire or construct housing units to replace "at risk" units lost to conversion. Non-profit ownership assures the future availability of purchased units as low-income housing. Several public and non-profit agencies are currently active or have expressed an interest in purchasing and/or managing at-risk, low-income housing projects in Orange ' County. The Orange County Community Housing Corporation (OCCHQ: OCCHC is the oldest and largest non-profit affordable housing developer in Orange County. With assets exceeding $6.6 million, OCCHC has been involved in 14 housing projects for very low-income large families throughout Orange County. ' Developments by OCCHC include: 1) Domingo Avenue Apartments (28 units), Newport Beach; 2) Berry Street Apartments (4 units), Anaheim; 3) Coffield Apartments (24 units), Dana Point; 4) Irvine Condominiums (6 units), Irvine; 5) Buena Street Apartments (28 units), Garden Grove; and 6) Keel Street Shelter 20 (8 units), Garden Grove. OCCHC participates in the management as well as the development of low income housing and has expressed interest in "at risk" units ' in Huntington Beach. Contact: Allen Baldwin (714) 558-6006. Civic Center Barrio Housing Corporation: Civic Center Barrio Housing Corporation also has considerable experience in, and resources for, the ' development and or management of low income housing. Barrio Housing owns and operates over 130 housing units in Orange County and San Diego County and has been involved in the development of over 400 affordable units. Barrio ' Housing has staff of three full time employees and has been operating in Orange County for 16 years. Representatives from Barrio Housing indicate that the corporation would be interested in preserving at-risk units in Huntington Beach. ' Contact: Alana Baker (714) 835-0406. Council of Orange County, Society of Saint Vincent De Paul: The Society of Saint Vincent De Paul provides many social services in Orange County such as food distribution and medical services. The Society is also in the process of developing a congregate housing project in Orange County and plans to continue ' to expand its housing operations. Including the value of donated time and goods, the Society has an annual revenue of $9.8 millon and employs a staff of 75 persons. The Society has expressed interests in preserving at-risk housing in ' Huntington Beach. Contact: Scott Mather (714) 633-9195. HomeAid: HomeAid is a non-profit corporation established by the Building ' Industry Association of Southern California to help..alleviate the homeless problem in the region. The HomeAid program has a .dual focus: to construct or renovate shelters for the transitionally homeless and to develop housing for lower income families and individuals. Representatives of HomeAid have expressed ' the agency's interest in preserving at-risk housing in Orange County. Projects completed or in progress in Orange County by HomeAid include: 1) Thomas House (Garden Grove) - refurbishing of an eight-unit complex for homeless families; 2) Interval House (central Orange County) - rehabilitation of an existing home for battered women and their children; 3) New Vista Shelter ' (Fullerton) - rebuilding of an apartment building for homeless families; 4) Don R. Roth Family Center (Orange) - construction of three new duplexes for homeless families; 5) Anchor House (San Clemente) - rehabilitation of a duplex for homeless families; 6) Anaheim Interfaith Shelter (Anaheim) - refurbishing and expansion of a single-family home for homeless families; 7) Huntington Youth Shelter (Huntington Beach) - refurbishing of a historic farmhouse and addition of 12 new bedrooms for a facility to house homeless and runaway teens; 8) Santa Ana YWCA Second Stage Housing (Santa Ana) - refurbishing of a four- unit apartment building for homeless women and their children; 9) Friendship Shelter (Laguna Beach) - refurbishing and enlarging of a detached home to provide shelter for homeless men and women; and 10) Precious Life Shelter (north Orange County) - expansion and rehabilitation of a home for unwed ' mothers and their newborn babies. Contact: Elisha Back (714) 396-9993. 21 Southern California Presbyterian Homes (SCPH): . SCPH is an experienced non- profit housing developer based in Glendale. Utilizing a variety of federal, state ' and local funds, SCPH has developed the following six low-income independent living facilities in Southern California: 1) Casa de la Paloma (167 units), Glendale; 2) Sycamore Terrace (100 units), Upland; 3) Park Paseo (100 units), Glendale; 4) Royal Vista Terrace (75 units), Duarte; 5) Covenant Manor (100 units), Long Beach; and 6) Guadalupe Manor (71 units), Fountain Valley. SCPH is also constructing a 22-unit affordable senior housing project funded through the City of Glendale's tax credit programs. Target residents for this project are ' those with limited income but not qualified for rental assistance under HUD's very low income category. Contact: Benjamin Beckler (818) 247-0420. QUANTIFIED OBJECTIVES Units at Risk of Conversion Before July 1, 1994 A total of 198 units in Huntington Villa Yorba are eligible to convert to market rate housing during this time frame. ' Units at Risk of Conversion Between July 1, 1994 and July 1, 1999 A total of 462 units_in.seven assisted housing projects are at risk of converting to non-low-income use between.July 1, 1994-and July 1, 1999. ' It is the objective of the City to either retain or replace as lo"A,-income housing all 660 units eligible to convert between July, 1989 and July 1, 1999. A comparison of current costs of preservation and current potential resources available indicates that preservation of the "at risk" units may be feasible. The City will continue to pursue new opportunities to replace low-income restricted units lost through conversion to market rate units. ' PROGRAMS FOR PRESERVATION The City plans to monitor "at risk" housing units to ensure units will continue as low income housing. The two at-risk HUD projects will most likely be preserved through incentives under LIHPRHA, and affordability controls on the five bond projects can most effectively be extended through bond refinancing. To the ' extent these approaches are not effectuated, the City will subsidize units and/or work with non-profit housing groups in the community to explore possible new construction of replacement housing by non-profits or non-profit acquisition of 22 1 ' existing buildings with "at risk" units The following are specific actions that the City will take to protect or replace at risk units. ' Policies and Programs Policy 1: Attempt to preserve low-income housing in the City that is at risk of converting to market rate by monitoring the status of prepayment-eligible and bond-financed projects, and identifying financial and organizational resources available to preserve these units. Policy 2: Pursue a program that would offer small developers an opportunity to purchase "at-risk" units as a means of satisfying affordable housing requirements that may be conditioned on their projects. Monitor Units at Risk: Regularly monitor the status of the at-risk projects. ' Pursuant to Government Code Section 65863.10, the City will inform the tenants of the status of their projects at least one year in advance of the potential conversion date. Time Frame: The earliest potential conversion dates for "at risk" projects in Huntington Beach are as follows. Project Project No. of Units Potential Nam Addres At Ris Conversion Date rHuntington Villa Yorba 16000 Villa Yorba 198 9/93 Seabridge Villas 20251 Cape Coral Lane 69 2/95 Harbor Gateway 4691 Warner Avenue 20 10/95 ' Rivermeadows 8945 Riverbend 31 10/95 Wycliffe Gardens 18765 Florida Avenue 185 3/96 Huntington Beach Gardens 16900 Algonquin 66 4/96 Huntington Village 16171 Springdale 23 11/96 Huntington Breakers 21270 Beach 68 7/99 Responsible Agency: Department of Community Development. Funding Source: Department Administrative Budget. Pursue Bond Refinancing: Seabrid e Villas, Harbor Gateway, Rivermeadows g Y Huntington Village, and Huntington Breakers are financed under the City's ' Mortgage Revenue Bond Program. The City will coordinate with the owners of at risk projects to encourage bond refinancing to extend low income use restrictions for a minimum of 15 years starting from the issuance of the initial ' bonds. Time Frame: Contact project owners at least 18 months prior to expiration to ' express City's desire to refinance. ' 23 Responsible Agency. Department of Community Development. Funding Source: Department Administrative Budget, City Housing Funds. Work with Potential Priori Purchasers: Establish contact with public and non- profit agencies interested in purchasing and/or managing units at risk to inform them of the status of at-risk projects. Where feasible, provide technical assistance to these organizations with respect to financing. Coordinate with the Orange County Affordable Housing Clearinghouse in assisting priority purchasers to obtain financing. Time Frame: Establish contact by end of 1992. Responsible Agency: 'Department of Community Development. IFunding Source: Department Administrative Budget, City Housing Funds. Facilitate Tenant Purchase of Units: Tenant purchase of at-risk units is a feasible preservation option when owners of Huntington Villa Yorba and Huntington Beach Gardens file Notices.of Intent to indicate the desire to sell the projects or negotiation between the owners and HUD fail to preserve the two projects as low-income housing. The City will facilitate tenant purchase of the two projects by providing technical assistance in financing, organizing tenant associations as priority purchasers, coordinating with non-profit housing organizations, and encouraging tenant participation.in the prepayment process. The City will begin working with the Orange.County Affordable Housing Clearinghouse to establish a program to provide preferential financing, and potentially downpayment assistance, for low-income tenants wishing to purchase their units. Time Frame: Begin coordination with the Orange County Affordable Housing Clearinghouse by the end of 1992. Responsible Agency: Department of Community Development. Funding Source: HOPE and HOME grants, CDBG, Orange County Affordable Housing Clearinghouse, Housing Authority Reserves. Tenant Education: The City will work with tenants of "at risk" units in danger of converting. The City will provide tenants with education regarding potential tenant purchase of buildings and act as a liaison between tenants and nonprofits potentially involved in constructing or acquiring replacement housing. The City will also provide tenants in "at risk" projects information regarding Section 8 rent subsidies through the Orange County Housing Authority. 1 I24 1 ' Time Frame: At least one year prior to subsidy termination, as identified in the schedule presented for monitoring units at risk. ' Responsible agency: Department of Community Development. ' Funding Source: Department Budget, CDBG. Encourage Project Owners to Participate in Section 8 Program: If detailed analysis and negotiation with projects owners indicate that long-term rent ! restrictions cannot be secured on the units, the City will encourage owners to participate in the Section 8 rent subsidy program. The City will act as the liaison between the County Housing Authority and the "at risk" project owners. The ' City will target this program effort to projects such as Rivermeadows and Huntington Village where differentials in rental rates between restricted and market rate units are small. ' Time Frame: Continually monitor status of extension of low-income use restrictions and encourage property owners to participate in the County Housing Authority Section 8 rent subsidy program_ immediately upon notification of owners' decision to discontinue low-income use. ' Responsible Agency: Department of Community Development. ' Funding Source: Department.Administrative Budget. Assist Tenants of Existing Rent-Restricted Units to Obtain Priority Status on Section 8 Waiting List: The Orange County Housing Authority has established three categories of priority applicants to receive Section 8 certificates: 1) evicted or homeless households; 2) households living in substandard housing units; and 3) ' households paying more than 50 percent of income for rent and utilities. The City will assist tenants of "at risk" units to obtain priority status if there were a conversion to market rate and if tenants' income and housing costs meet ' eligibility requirements. Time Frame: Continually monitor status of extension of low-income use restrictions and assist tenants to apply for priority status immediately upon notification of owners' decision to discontinue low-income use. ' Responsible Agency: Department of Community Development. Funding Source: Department Administrative Budget. r 25 No "cam F PUBLIC HEAKINGW / HOUSING ELEMENT AMENDMENT NO. 92-1/ Negative Declaration No. 92-25 (Preservation of Assisted Housing) NOTICE IS HEREBY GIVEN that the Huntington Beach City Council will hold a public hearing in the Council Chamber at the Huntington Beach Civic Center, 2000 Main Street, Huntington Beach, California, on the date and at the time indicated below to receive and consider the statements of all persons who wish to be heard relative to the application described below. DATE/TIME: pp'��Monda , November j, 1992, .7 : 00 PM (f/A ) eEEK QR�rs�N ALLY 'SCHEDULED FOK NOVEMIBER L) /99'a) APPLICATION NUMBER: Housing Element Amendment No. 92-1/Neg. Dec. 92-25 APPLICANT: City of Huntington Beach LOCATION: City-wide ZONE: N/A REOUEST: To amend the Housing Element to include on evaluation of the potential for currently rent restricted low income housing units to convert to non low income housing and propose programs to preserve or replace those units . This amendment will bring the Housing Element into compliance with Government Code Section 65583 (a) (8) , (c) (6) . ENVIRONMENTAL STATUS: Negative Declaration No. 92-25 has been prepared and advertised for a 30 day comment period, which expired on July 17, 1992 . This Negative Declaration was considered by the Planning Commission and will also be considered by the City Council . COASTAL STATUS : Not applicable ON FILE: A copy of the proposed request is on file in the Community Development Department, 2000 Main Street, Huntington Beach, California 92648, for inspection by the public. A copy of the staff report will be available to interested parties at City Hall or the Main City Library (7111 Talbert Avenue) after October 28, 1992 . ALL INTERESTED PERSONS are invited to attend said hearing and express opinions or submit evidence for or against the application as outlined above. If you challenge the City Council ' s action in court, you may be limited to raising only those issues you or someone else raised at the public hearing described in this notice, or in written correspondence delivered to the City Clerk at, or prior to, the public hearing. If there are any further questions please call Greg Brown, Development Specialist at 536-5271. Connie Brockway, City Clerk Huntington Beach City Council 2000 Main Street (1646D) Huntington Beach, CA 92648 (714) 536-5227 6 - Q " + NOTICE OF PUBLIC HEARING 0 r �� HOUSING ELEMENT AMENDMENT NO. 92-1/ Negative Declaration No. 92-25 (Preservation of Assisted Housing) NOTICE IS HEREBY GIVEN that the Huntington Beach City Council will hold a public hearing in the Council Chamber at the Huntington Beach Civic Center, 2000 Main Street, Huntington Beach, California, on the date and at the time indicated below to receive and consider the statements of all persons who wish to be heard relative to the application described below. DATE/TIME: Monday, November 2, 1992, 7: 00 PM APPLICATION NUMBER: Housing Element Amendment No. 92-1/Neg. Dec. 92-25 APPLICANT: City of Huntington Beach LOCATION: City-wide ZONE: N/A REQUEST: To amend the Housing Element to include on evaluation of the potential for currently rent restricted low income housing units to convert to non low income housing and propose programs to preserve or replace those units . This amendment will bring the Housing Element into compliance with Government Code Section 65583(a) (8) , (c) (6) . ENVIRONMENTAL STATUS: Negative Declaration No. 92-25 has been prepared and advertised for a 30 day comment period, which expired on July 17, 1992 . This Negative Declaration was considered by the Planning Commission and will also .be considered by the City Council . COASTAL STATUS: Not applicable ON FILE: A copy of the proposed request is on file in the Community Development Department, 2000 Main Street, Huntington Beach, California 92648, for inspection by the public. A copy of the staff report will be available to interested parties at City Hall or the Main City Library (7111 Talbert Avenue) after October 28, 1992 . ALL INTERESTED PERSONS are invited to attend said hearing and express opinions or submit evidence for or against the application as outlined above. If you challenge the City Council ' s action in court, you may be limited to raising only those issues you or someone else raised at the public hearing described in this notice, or in written correspondence delivered to the City Clerk at, or prior to, the public hearing. If there are any further questions please call Greg Brown, Development Specialist at 536-5271. Connie Brockway, City Clerk Huntington Beach City Council 2000 Main Street (1646D) Huntington Beach, CA 92648 (714) 536-5227 BLIC HEARING NOTIFICATION CHECKLIST MAILING LABELS • w (1211D) 9/18/92 President William D. Holman P nning Director H.B. Chamber of Commerce Pacific Coast Homes City Dt,,Wwestminster 2213 Main St. #32 2124 Main St. 8200 Westm ter Blvd. Huntington Beach, CA 92648 Hunt. Bch,—CA 2648-2499 Westminster, CA 83 Board President .B. Hist. Society P17maing Director H.B./F.V. Board of Realtors C/O Newland o useum City of Beach 8101 Slater Ave. 19820 Beach Blvd. 211 Eight St. Huntington Beach, CA 92647 Huntington Beach, CA 92648 Seal Beach, CA 90740 Pre ' nt irperson C astal Commission Amigos De a Chica His rical Resources Bd. Theres�Broadway, 15545 Computer Comm. �Beach, 245 W. 380 Huntington Beach, CA 49 2000 Mai Long Bch, CA 90802 Huntingt92648 C Grant Robert Joseph Friends o B Wetlands Council on Aging Caltrans District 12 21902 Kiowa Lane 1706 Orange Ave. 2501 Pullman St. Huntington Beach, CA 9264 Huntington Beach, CA 92648 Santa Ana, CA 92705 alanter 7Golden na lebury Director Coastal ervancy St. o m. Owners Leag. Local Solid Waste Enf. Agy. P.O. Box 6649 21 Magnolia Blv O.C. Health Care Agency Los Angeles, CA 9006 Garden Grove, CA 92642 P.O. Box 355 Santa Ana, CA 92702 President Co f Orange/EMA ick Tomain0 Huntington Beach Tomorrow Michael M. ne, Dir. Seacliff owners Assoc. 411 6th St. P.O. Box 4048 6812 Scenic Bay e Huntington Beach, CA 92648 Santa Ana, CA 92702-4 Huntington Beach, CA 48 e Vandermost IA Count Orange/EMA Hu ton Harbor HOA 2001 E. 4th S 24 Thomas Math Dir, Planning P. 0. Box Santa Ana, CA 92705 P. 0. Box 4048 Sunset Beach, CA 907 Santa Ana, CA 92702-4 Richard Spicer SCAG Cou of Orange/EMA Lilly 818 West 7th, 12th Floor Bob Fisher, ir. HHHOA Los Angeles, CA 90017 P.O. Box 4048 16835 Algonqui t. #119 Santa Ana, CA 92702-4048 Huntington Beach, 49 I. Corral 100 ing Dir. N wth Coordinator Mary Be City of a Mesa Huntington ach Post Office 20292 Eastwood P. 0. Box 1200 6771 Warner Ave. Huntington Beach, CA 46 Costa Mesa, CA 92628— Huntington Beach, CA 47 OSCHOOL DISTRICTS REPRESENTATIVES • (1594D) �r Dr. Duane Dishno HB CITY ELEMENTARY SCHOOL DISTRICT P. 0. Box 71 Huntington Beach, CA 92648 964-8888 DAVID HAGEN HB UNION HIGH SCHOOL DISRICT 10251 Yorktown Avenue Huntington Beach, CA 92646 964-3339 MARK ECKER FOUNTAIN VALLEY ELEMENTARY SCHOOL DISTRICT 17210 OAK STREET FOUNTAIN VALLEY CA 92708 DR. GARY BURGNER HUNTINGTON BEACH CITY ELEMENTARY SCHOOL DISTRICT PO BOX 71 HUNTINGTON BEACH CA 92648 DR. JIM JONES OCEAN VIEW ELEMENTARY SCHOOL DISTRICT 17200 PINEHURST LANE HUNTINGTON BEACH CA 92647 DR. GAIL WICKSTROM WESTMINSTER SCHOOL DISTRICT 14121 CEDARWOOD AVENUE WESTMINSTER CA 92683 COVER SHEET CITY COUNCIL PUBLIC HEARINCIS N/A YES NO Did Wang type out City Council or Planning Commission public hearing notice? ( ) ( ) If anneal, are appellant and applicant shown on legal notice? ( ) ( ( ) If hou in is involved, is "legal challenge paragraph" included? ( ) ( ) If Coastal Development Permit, are the RESIDENT labels attached and is the Coastal Commission Office on the labels. ( ) ( ) Were latest Assessor's Parcel Rolls used? is the appellant's name and address part of the labels? ( ) Is day of public hearing correct — Monday/Tuesday? ( ) Has the City Administrator's Office authorized the public hearing to be set? ( � Is PC Matrix mailing list required? For Pub is Hearings at the City Council level please revise the last paragraph of the public hearing notice as follows: ALL INTERESTED PERSONS are invited to attend said hearing and express opinions or submit to the City Clerk, written evidence for or against the application as outlined above. If there are any further questions please call (insert name of Planner) at 536-5227. CONNIE BROCKWAY,CITY CLERK CITY OF HUNTINGTON BEACH 2000 MAIN STREET HUNTINGTON BEACH, CA 92648 (714) 536-5227 The paragraph which is currently on Coastal Commission public hearings should remain. i r! 0019z ! STATE OFCALIFOANIA BUSINESS. rRANSPOAVA11ON.ANri MQUSINOAOt-Ni.Y wILJQ' tL,vo� DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT G DIVISION OF HOUSING POLICY DEVELOPMENT 1800 THIRD STREET,Room 430 SAP. LANBOX 95-53 ATTACHMENT NO. S.4GRAA¢1rT0, CA 94:52.2053 (916)323-3176 FAX(910) 3Z3-M2S September 2 , 1992 Mr. Paul E . Coo': City Administrator City of Huntington 'Beach 2000 Main Street Huntington Beach, CA 92646 Dear Mr. Cook: RE: Review of Huntington Beach' s 1992 Draft Housing Element Amendment and 1969 Adopted Housing Element Thank you For submitting Huntington Beach' s draft housing element amendment, received July 21, 1992 for our review. As you know, we are required to review housing element amendments and report our findings to the locality (Government Code Section 65585 (b) ) . We have also reviewed the City ' s adopted housing element received August 2 , 1990 for our review. As you may know, this Department was not required to review adopted elements received prior to January 1 , 1991 . Chapter 1441 , Statutes of 1990 now requires that the Department review adopted housing elements and report our findings to the locality (Government Code Section 65585 (h) ) . We- regret that because of other statutory responsibilities we were unable to review the element when it was originally received. we have reviewed the adopted element at this time as part of our review of the City ' s draft preservation amendment. As you know, our January 26 , 1990 review letter found the City' s revised draft housing element in compliance with state housing element law. We are pleased to find that the City ' s adopted housing element continues to comply with state law. i We are also pleased to inform you that the draft amendment, which responds to the requirements of Chapter 1451, 'Statutes of 1989 relating to the. preservation of subsidized housing at risk of conversion, also complies with Article 10. 6 of . the Government Code. The draft amendment thoroughly describes and analyzes subsidized units at risk of conversion and is clearly organized and presented.- The analysis of conversion potential for the Y ✓JG•✓Jorri Lon Mr. Paul E. Cook �06- Page 2 various projects a,- risk and the discussion of preservation resources are particularly good. We congratulate the City for an exemplary analysis . we wish you continued success in implementing your housing program and we reco-mnend that you adopt the amendment as soon as possible to ensure the element remains in compliance. we look forward to receiving the adopted amendment and reviewing it pursuant to Section 65585 (h) . If you have any questions or would like assistance in the implementation of your housing element, please contact Gary Collord of our staff at (916) 327-2644 . In accordance with requests pursuant to the '-R.iblic necords Act, we are forwarding copies of this letter to the persons and organizations listed below. Sincerely, Thomas B. Cook Deputy Director cc: Ruth Lambert, city of Huntington Beach Conrad G. Tuohey, Law Offices David Quezada, Fair Housing Council of Orange County_ Ralph Kennedy, Orange County Housing Coalition Crystal Simms, Legal Aid Society of orange County Maya Dunne, City of Huntington Beach Jean Forbath, Orange County Human Relations Justin Clouser, Poverty Law Center Jonathan Lehrer-Graiwer, Attorney at Law Western Center on Law & Poverty David Booher, California Housing Council Ana Marie Whitaker, California State University Pomona Karen Warmer, to-ton,iBeland/Also fates Christine Diemen, Building Industry Association Joe Carreras, Southern California Association of Governments Kathleen Mikkelson, Deputy Attorney General Bob Cervantes, Governor ' s Office of Planning and Research Dwight Hanson, California Building Industry Association Kerry Harrington Morrison, California Association of Realtors Marc Brown,, California Rural Legal Assistance Foundation Rob wiener, California Coalition for Rural, housing Susan Desantis, The Planning Center A�"affCITY OF HUNTINGTON BEACH INTER-DEPARTMENT COMMUNICATION / HUNTINGTON BEACH ATTACHMENT NO.o4 TO : Greg Brown FROM: Julie Osugi Assistant P a ner SUBJECT: ENVIRONMENTAL ASSESSMENT FORM NO. 92-25 DATE : June 11 , 1992 Applicant : City of Huntington Beach Request : Adoption of the "Preservation of Assisted Housing : Analysis. and Programs" Report . The report amends the Huntington Beach Housing Element , and will be integrated within the Housing Element upon the next periodic review of the Element in 1994 . The purpose of the amendment is to bring the Housing Element into compliance with a recent amendment .of housing element law, codified in Government Code Section 65583 (a) (8) , (c) ( 6) . Under this law, jurisdictions must evaluate the potential for currently rent restricted low-income housing units to convert to non-low-income housing and propose programs to preserve or replace `s those units . Location: Citywide Background Staff has reviewed the environmental assessment form noted above and has determined that a negative declaration may be filed for the project . In view of this , a draft negative declaration was prepared and was published in. the Huntington Beach Independent for a thirty (30) day public review period commencing Thursday, June 18 , 1992 and ending Friday, July 17, 1992 . If any comments regarding the draft negative declaration are received, you will be notified immediately. Recommendation The Environmental Assessment Committee recommends that the Planning Commission approve Negative Declaration No . 92-25 finding that the 6,_`.}. proposed project will not have a significant adverse effect on the environment . (3611d-3) 1 1 LEGAL ADVERTISEMENT DEPARTMENT OF COMMUNITY DEVELOPMENT PLANNING DIVISION CITY OF HUNTINGTON BEACH Notice is hereby given by the Department of Community Development , Planning Division of the City of Huntington Beach that the following I . ,Draft Negative Declaration request has been prepared and will be �. submitted to the City of Huntington Beach Planning Commission for their consideration . The Draft Negative Declaration will be available for public review and comment for thirty ( 30) days commencing Thursday, June 18 , 1992 . Draft Negative Declaration No . 92-25 in conjunction with Housing Element Amendment No . 92-1 is a request to adopt the "Preservation . of Assisted Housing : Analysis and Programs" Report . The report amends the Huntington Beach Housing Element , and will be integrated within the Housing Element upon the next periodic review of the Element in 1994 . The purpose of the amendment is to bring the Housing Element into compliance with a recent amendment of housing element law, codified in Government Code Section 65583 (a) ( 8) , (c) ( 6) . Under this law, jurisdictions must evaluate the potential for currently rent restricted low-income housing units to convert to non-low-income housing and propose programs to preserve or replace those units . A copy of the request is on file with the Department of Community Development , City of Huntington Beach , 2000 Main Street , Huntington Beach , California . Any person wishing to comment on the request may do so in writing within thirty ( 30 ) days of this notice by providing written comments to the Department of Community Development , Planning Division , P .O . Box 190 , Huntington Beach, CA 92648 . ( 3610d-2) ENVIRONMENTAL CHECKLIST FORM CITY OF HUNTINGTON BEACH PLANNING DIVISION ENVIRONMENTAL ASSESSMENT NO. 92-25 1 . Name of Proponent: City of Huntington Beach Address: 2000 Main Street Huntington Beach, CA 92648 Phone Number: (714) 536-5271 2. Date Checklist Submitted for Review: June 10, 1992 3. Concurrent Entitlement(s) : Housing Element Amendment No. 92-1 4. Project Location: Citywide 5. Proiect Description: Adoption of the "Preservation of Assisted Housing: Analysis and Programs" Report. The report amends the Huntington Beach Housing Element, and will be integrated within the HousingEl u the next Element upon periodic review of the Element in 1994. The purpose of the amendment is to bring the Housing Element into compliance with a recent amendment of housing element law, codified in Government Code Section 65583(a)(8)., (c)(6). Under this law, jurisdictions must evaluate the potential for currently rent restricted low-income housing units to convert to non—low—income housing and propose4programs to preserve or replace those units. A summary of the report has been included in this document as attachment #1 . i I t 5 ! 1 i i i I Introduction The "Preservation of Assisted Housing : Analysis and Programs" report .Y is a policy document . The report inventories the restricted low-income housing stock in the City and assesses each project ' s potential for conversion to non-low-income housing by analyzing the costs associated with preservation or repacement of the projects . The report also establishes City policy regarding preservation of existing restricted low income housing stock and identifies financial resources and programs available to the City to facilitate preservation efforts . The report focuses on the preservation of the affordability of existing residential units and does not consist of any new development or propose any new policies which will result in impacts to the following environmental areas : Earth Conditions ; Air Quality; Water Quality or Supply; Biological Resources ; Noise; Light and Glare; Land Use; Energy and Natural Resources ; Transportation; Public Services and Utilities ; Human Health/Risk of Upset ; Aesthetics ; Recreation; or Historic/Cultural Resources . Therefore, all items on the attached checklist pertaining to the above issues , have been appropriately marked "no" . For a summary of the Preservation of Assisted Housing : Analysis and Programs report please refer to Attachment #1 . . 1 3567d Y Maybe No ENVIRONMENTAL IMPACTS (Explanations of answers are included after .each subsection.) Yes Mavbe No 1 . Earth. Will the proposal result in: a. Unstable earth conditions or changes in geologic substructures? — _ X b. Disruptions, displacements, compaction or overcovering of the soil? — _ X C. Change in topography or ground surface relief features? — _ X d. The destruction, covering or modification of any unique geologic or physical features? _ X e. Any increase in wind or water erosion of soils, either on or off the site? — — X f. Changes in deposition or erosion of beach sands, or changes in siltation, deposition or erosion which may modify the channel of a river or stream or the bed of the ocean or any bay, inlet or lake? X g. Exposure of people or property to geologic hazards such as earthquakes, landslides, mudslides, ground failure, or similar hazards? — _ X Air. Will the proposal result in: 4 a. Substantial air emissions or deterioration of ambient air quality? — _ X b. The creation of objectionable odors? — — X C. Alteration of air movement, moisture, or temperature, or any change in climate, either locally or regionally? X 3. Water. Will the proposal result in: a. Changes in currents, or the course of direction of water movements, in either marine or fresh waters? X - - - b. Changes in absorption rates, drainage patterns, or the rate and amount of surface runoff? _ _ X i C. Alterations to the course or flow of flood waters? X d. Change in the amount of surface water in any water body? _ _ X e. Discharge into surface waters, or in any alteration of surface water quality, including but not limited to temperature, dissolved oxygen or turbidity? — — X f. Alteration of the direction or rate of flow of ground waters? _ — X 1 i Environmental Checklist —3— (3555d) • I _ i Ma4be -N- • 9. Change in the quantity of ground waters, either through direct additions or withdrawals, or through interception of an aquifer by cuts or excavations? h. Substantial reduction in the amount of water otherwise available for public water supplies? _ _ X i . Exposure of people or property to water related hazards such as flooding or tidal waves? _ _ X 4. Plant Life. Will the proposal result in: a. Change in the diversity of species, or number of any species of plants (including trees, shrubs, grass, crops, and aquatic plants)? X b. Reduction of the numbers of any mature, unique, rare or endangered species of plants? _ X C. Introduction of new species of plants into an area, or in a barrier to the normal replenishment of existing species? X d. Reduction in acreage of an agricultural crop? _ — X 5. Animal Life. Will the proposal result in: a. Change in the diversity of species, or numbers of any species of animals (birds, land animals including reptiles, fish and shellfish, benthic organisms or insects)? b. Reduction of the numbers of any unique, rare or endangered species of animals? — X C. Introduction of new species of animals into an area, or result in a barrier to the migration or movement of animals? d. Deterioration to existing fish or wildlife habitat? _ _ X 6. Noise. Will the proposal result in: a. increases in existing noise levels? _ X b. Exposure of people to severe noise levels? _ X 7. Light and Glare. Will the proposal produce new light or glare? _ _ X 8. Land Use. Will the proposal result in a substantial alteration of the present or planned land use of an area? X 9. Natural Resources. Will the proposal result in: a. Increase in the rate of use of any natural resources? X b. Substantial depletion of any nonrenewable natural resource? X 10, Risk of Upset. Will the proposal involve: a. A risk of an explosion or the release of hazardous substances (including, but not limited to oil , pesticides, chemicals or radiation) in the event of an accident or upset conditions? Environmental Checklist -4- (3555d) Yes Maybe N%� • i b. Possible interference with an emergency response plan or an emergency evacuation plan? — _ X 1 . Population. Will the proposal alter the location, distribution, density, or growth rate of the human population of an area? X 12. Housing. Will the proposal affect existing housing, or create a demand for additional housing? _ X _ Discussion: The proposed project will promote the preservation of the affordable housing stock in the City by establishing a preservation policy and by identifying financial resources and programs to facilitate the preservation of affordable units. As such, the proposal will affect existing and future low income housing at risk of being converted to market rate. The proposal will help to maintain housing for a segment of the low income population in the City and facilitate achievement of the City's housing goals as established by the existing policies of the General Plan. Affects to housing are anticipated to be beneficial ; no signficant adverse impacts are anticipated. 13. Transportation/Circulation. Will the proposal result in: a. Generation of substantial additional vehicular movement? _ _ X b. Effects on existing parking facilities, or demand for new off—site parking? _ X C. Substantial impact upon existing transportation systems? _ _ X d. Alterations to present patterns of circulation or movement of people and/or goods? _ _ X e. Alterations to waterborne, rail or air traffic? _ __ X f. Increase in traffic hazards to motor vehicles, bicyclists -or pedestrians? _ X 14. Public Services. Will the proposal have an effect upon, or result in a need for new or altered governmental services in any of the following areas: a. Fire protection? X b. Police protection? _ _ X C. Schools? X d. Parks or other recreational facilities? X e. Maintenance of public facilities, including roads? — X Discussion: All of.the affordable ,housing units identified in the report are privately owned and maintained. Programs listed in the document which will facilitate preservation of these units do not involve any increases in maintenance on the City's part. No significant adverse impacts are anticipated. f. Other governmental services? X Discussion: The programs identified in the document identify the City of Huntington Beach Department of Community Development as the responsible agency. The programs define the department's role primarily to provide administrative, technical- and coordination assistance for the "at—risk" units. The City's Department of Community Development, Building and Housing Division currently operates in this capacity. Environmental Checklist —5— (3555d) Yes Maybe No. • Therefore, adoption of the document is not anticipated to result in any significant adverse impacts to existing government services in the City. 15. Energy. Will the proposal result in: a. Use of substantial amounts of fuel or energy? b. Substantial increase in demand upon existing-source of energy, or require the development of sources of energy? _ _ X 16. Utilities. Will the proposal result in a need for new systems, or substantial alterations to the following utilities: a. Power or natural gas? _ _ X i b. Communication systems? _ X C. Water? - - X d. Sewer or septic tanks? - _ X e. Storm water drainage? - _ X f. Solid waste and disposal? - X 17. Human Health. Will the proposal result in: a . Creation of any health hazard or potential health hazard (excluding mental health)? _ b. Exposure of people to potential health hazards? _ _ X 18. Aesthetics. Will the proposal result in the obstruction of any scenic vista or view open to the public, or will the proposal result in the creation. of an aesthetically offensive site open to public view? _ _ X 19. Recreation. Will the proposal result in an impact upon the quality or quantity of existing recreational opportunities? _ _ X 20. Cultural Resources. a. Will the proposal result in the alteration of or the destruction of a prehistoric or historic archaeological site? _ X b. Will the proposal result in adverse physical or aesthetic effects to a prehistoric or historic building, structure, or object? _ _ X C. Does the proposal have the potential to cause a physical change which would affect unique ethnic cultural values? X d.. Will the proposal restrict existing religious or sacred uses within the potential impact area? X Environmental Checklist —6— (3555d) Yes Maybe NsI 21 . Mandatory Findings of Significance. a. Does the project have the potential to degrade the quality of the environment, sub— stantially reduce the habitat of a fish or wildlife species, cause a fish or wildlife population to drop below self sustaining levels, threaten to eliminate. a plant or animal community, reduce the number or restrict the range of a rare or endangered plant or animal or eliminate important examples of the major periods of California history or prehistory? X b. Does the project have the potential to achieve short—term, to the disadvantage of long—term, environmental goals? (A short-term impact on the environment is ore which occurs in a relatively brief, definitive period- of time while long—term impacts will endure well into the future.) - X C. Does the project have impacts which are individually limited, but cumulatively consid— erable? (A project may impact on two or more separate resources where the impact on each resource is relatively small , but where the effect of the total of those impacts on the environment is significant.) _ X d. Does the project have environmental effects which will cause substantial adverse effects on human beings, either directly or indirectly? _ _ X DETERMINATION -.,On the basis of this initial evaluation: find that the proposed project COULD NOT have a significant effect on the environment, and a NEGATIVE DECLARATION will be prepared. I find that although the proposed project could have a significant effect on the environment, there !_ will not be a significant effect in this case because the mitigation measures described on an attached sheet have been added to the project. A NEGATIVE DECLARATION WILL a BE PREPARED. 3 A I find the proposed project MAY have a significant effect on the environment and an ENVIRONMENTAL _- IMPACT REPORT is required. :3 :a Date Sign ure Revised: March, 1990 For: City of Huntington Beach 9 Community Development Department G '3 Environmental Checklist —7— (3555d 'a I ATTACHMENT #1 PRESERVATION OF ASSISTED HOUSING ANALYSIS AND PROGRAMS REPORT SUMMARY The Huntington Beach Housing Element was adopted in July, 1990 as part of the 1989-1994 update cycle for jurisdictions in the SCAG region . The State Department of Housing and Community Development has determined the Element to be in compliance with State law. The "Preservation of Assisted Housing : Analysis and Programs" report amends the Huntington Beach Housing Element, and will be integrated . within the Housing Element upon the next periodic review of the Element in 1994 . The purpose of the amendment is to bring the Housing Element into compliance with a recent amendment of housing element law, codified in Government Code Section 65583 (a) (8) , (c) ( 6) . Under this law, jurisdictions must evaluate the potential for currently rent restricted low-income housing units to convert to non-low-income housing and propose programs to preserve or replace those units . Consistent with State requirements , the report includes the following five components : 1 . An inventory of restricted low-income housing projects in the City and their potential for conversion; 2 . An analysis of the costs of preserving and/or replacing the units " at-risk" and a comparison of these costs ; 3 . An analysis of the organizational and financial resources available for preserving and/or replacing the units "at-risk" ; 4 . Quantified objectives for the number of " at-risk" units to be preserve; 5 . Programs for preserving the " at-risk" units . A brief summary of each of the five components has been provided below. It should be noted that the State requires that the analysis include projects that are at risk of converting during the next two five-year Housing Element update periods . Therefore, the report provides an analysis of each component area in terms of the period extending from July 1 , 1989 to July 1, 1999 . I . InventQ _ta_ At-Risk and '1'hui r This component provides an inventory of the nine assisted low-income housing projects in the City. The projects include Huntington Villa Yorba, Huntington Beach Gardens , Wycliffe Gardens , Seabridge Villas , Harbor Gateway, River Meadows , Huntington Village., Huntington Breakers and Surfside Villas and provide a total of 735 affordable units . The inventory includes a description of each of the projects including the number of affordable units , a break down of unit type and discussion of the federal or local assistance program in which each project is participating . The component identifies eight assisted rental housing projects at risk of being converted to non-low-income housing prior to July 1 , 1999 . These- eight projects provide a total of 660 affordable units in the City. Of the eight projects , one, the Huntington Villa Yorba consisting of 198 affordable units , is at risk of conversion prior to July 1, 1994 . The section also evaluates each project' s conversion potential based upon legal restrictions and incentives regulating the affordability of units . II . Cos-t Analysis : Preservation vs . Replacement This component examines both the cost of preserving the units at risk in Huntington Beach, and the costs of producing new Y rental housing comparable in size and rent levels to replace the units which could convert . A cost estimate has been developed for each option based on information provided from the County Housing Authority, the project ' s management company, and local developers . Actual costs involved in each option will also depend on the rental and real estate market situations at the time the low-income use restrictions on' the projects expire . Preservation Costs This section analyzes four different options available for the preservation of affordable units and estimates the costs associated with each for two projects , the Huntington. Villa Yorba and the Huntington Beach Gardens . The four methods include : 1 . Preserve the projects as low-income by offering. additional federal incentives to the projects ; 2 . Facilitate the transfer of ownership of these projects to or purchase of similar units by non-profit organizations ; 3 . Refinance mortgage on projects . to extend affordability controls ; or 4 . Assist qualified tenants in obtaining Section 8 certificates from the Orange County Housing Authority. Replacement Costs This section analyzes cost of constructing new low-income housing units to replace the 660 assisted units in HUD and bond projects in Huntington Beach should they be converted from low-income uses . The cost of developing new housing depends upon a variety of factors such as density, size of the units ( i . e . number of bedrooms) , location and related land costs , and type of construction . The section calculates the average per unit development cost by unit type in Huntington Beach. Based on a construction code of $63 . 00 per square foot plus permit processing fees, infrastructure connection fees , and impact fees . Cost Comparison This section provides a comparison of the replacement cost versus the various preservation alternatives identified earlier in the section . The section also discusses the drawbacks and benefits associated with each . III . Sources for Preservation This section discusses two types of resources available for preserving " at risk" units : a) financial resources potentially available to purchase or supplement existing units , or to build replacement housing , and b) entities with the interest and ability to purchase and/or manage replacement units . The section presents a variety of potential funding sources Available for potential acquisition, subsidy, or replacement of units at risk. Funding sources discussed in the document include : HUD Funds , Redevelopment Set-Aside Funds , CDBG Funds , City General Revenue Funds , Housing Authority Reserves , and the . Orange County Affordable Housing Clearinghouse . The document also identifies administrative resources , which are defined as public or non-profit agencies which have expressed an interest in purchasing and/or managing at-risk, low income housing projects in Orange County. The document identifies the following non-profit groups : The Orange County Community Housing Corporation (OCCHC) , Civic Center Barrio . Housing Corporation, Society of Saint Vincent De Paul , Home Aid and Southern California Presbyterian Homes . IV. Quantified Obiectives : This section quantifies the number of units at -risk of conversion before July 1., 1994 as 198 and those at risk of conversion between July 1, 1994 and July 1, 1999 as 464 . The section then goes on to establish the following objective for the City: "It is the objective of the City to either retain or replace as low-income housing all 660 units eligible to convert between July, 1989 ,and July 1, 1999" . The section states that the objective .is based upon a comparison of current costs of preservation and current potential resources available indicates that preservation of the "at risk" units may be feasible. The City will continue to pursue new opportunities to replace low-income restricted units lost through conversion to market rate units . V . Programs for Preservation The section identifies the City' s plans to monitor "at risk" housing units to ensure units will not be lost as low income housing . The two at-risk HUD projects will most likely be preserved through incentives under LIHPRHA, and affordability controls on the five bond projects can most effectively be extended through bond refinancing . To the extent these approaches are not effectuated , the City will subsidize units and/or work with non-profit housing groups in the community to explore possible new construction of replacement housing by non-profits or non-profit acquisition of existing buildings with "at risk" units. The section following identifies the policy and the specific actions that the City will take to implement it . Policies and Programs Policy 1 : Attempt to preserve low-income housing in the City that is at risk of converting to market rate by monitoring the status of prepayment-eligible and bond-financed projects , and identifying financial and organizational resources available to preserve these units . Monitor Units at Risk: Regularly monitor the status of the at-risk projects . Pursuant to Government Code Section 65863 . 10 , the City will inform the tenants of the status of their projects at least one year in advance of the potential conversion date . Work with. Potential Priority Purchasers: Establish contact with public and non-profit agencies interested in purchasing and/or managing units at risk to inform them of the status. of at-risk projects '. Where feasible, provide technical assistance to these organizations with respect to financing . Coordinate with the Orange County Affordable Housing Clearinghouse in assisting priority purchasers to obtain financing . �u • Pursue Bond Refinancing : Seabridge Villas , Harbor Gateway, Rivermeadows , Huntington Village, and Huntington Breakers are financed under the City' s Mortgage Revenue Bond Program. The City will coordinate with the owners of at risk projects to =;x' encourage bond refinancing to extend low income use restrictions for a minimum of 15 years starting from the -- issuance of the initial bonds . i Facilitate Tenant Purchase of Units : Tenant .purchase of at-risk units is a feasible preservation option when owners of Huntington Villa Yorba and Huntington Beach Gardens file Notices of Intent to indicate the desire to sell the projects or negotiation between the owners and HUD fail to preserve the two projects as low-income housing . The City will facilitate tenant purchase of the two projects by providing technical assistance in financing , organizing tenant associations as priority purchasers , coordinating with non-profit housing organizations , and encouraging tenant participation in the prepayment process . The City will begin working with the Orange County Affordable Housing Clearinghouse to establish a program to provide preferential financing, and potentially down payment assistance, for low-income tenants wishing to purchase their units . Tenant Education: The City will work with tenants of " at risk" units in danger of converting . The City will provide tenants with education regarding potential tenant purchase of buildings and act as a liaison between tenants and non-profits potentially involved in constructing or acquiring replacement ) housing . The City will also provide tenants in "at risk projects information regarding Section 8 rent subsidies through the Orange County Housing Authority. Encourage Project Owners to Participate in Section 8 Program: If detailed analysis and negotiation with projects owners indicate that long-term rent restrictions cannot be secured on the units , the City will encourage owners to participate in the Section 8 rent subsidy program. The City will act as the liaison between the County Housing Authority and the "at risk" project owners . The City will target this program effort to projects such as Rivermeadows and Huntington Village where differentials in rental rates between restricted and market rate . units are small . Assist Tenants of Existing Rent-Restricted Units to Obtain priority Status on Section 8 Waiting List: The Orange County Housing Authority has established three categories of priority applicants to receive Section 8 certificates : 1) evicted or homeless households ; 2) households living in substandard housing units ; and 3) households paying more than 50 percent of income for rent and utilities . The City will assist tenants of " at risk" units to obtain priority status if there were a. conversion to market rate and if tenants ' income and housing costs meet eligibility requirements . (3559d) i V � r V 1 V ; a Isoo 3700 V I __ eOISA I n z u MO.[%.fN 2 11 z fo,Ncn i i I \ "Ot WFINfP WIANtI / / \ st"EP I i.l 11 PI 5 O j a I ,..�litln I.oI. - /BAN--. f VICINITY MAP HUNTINGTON BEACH PLANNING DIVISION RESPONSE TO COMMENTS FOR DRAFT NEGATIVE DECLARATION NO. 92-25 I I . INTRODUCTION This document serves as the Response to Comments on the Draft Negative Declaration No . 92-25 . This document contains all information available in the public record related to the Draft Negative Declaration as of July 20 , 1992 and responds to comments in accordance with Section 15088 of the California Environmental Quality Act (CEQA) Guidelines . This document contains five sections . In addition to this Introduction, these sections are Public Participation and Review, Comments ; Responses to Comments , and Appendix A. The Public Participation section outlines the methods the City of Huntington Beach has used to provide public review and solicit input on the Draft Negative Declaration . The Comments section contains those written comments received from agencies , groups , organizations , and individuals as of July 20 , 1992 . The Response to Comments section contains individual responses to each comment . It is the intent of the City of Huntington Beach to include this document in the official public record related to the Draft Negative Declaration . Based on the information contained in the -public record the decision makers will be provided with an accurate and complete record of all information related to the environmental consequences of the project . II . PUBLIC PARTICIPATION AND REVIEW The City of Huntington Beach notified all responsible and interested agencies and interested groups , organizations , and individuals that a Draft Negative Declaration had been prepared for the proposed project. The City also used several methods to solicit input during the review period for the preparation of the Draft Negative Declaration . The following is a list of actions taken during the preparation, distribution, and review of the Draft Negative Declaration . 1 . A cover letter and copies of the Draft Negative Declaration were filed with the State Clearinghouse on June 16 , 1992 , The State Clearinghouse assigned Clearinghouse Number 92061043 to the proposed project . A copy of the cover letter and the State Clearinghouse distribution list is available for review and inspection at the City of Huntington Beach, Planning Department , 2000 Main Street , Huntington Beach, California 92648 . 2 . Ail offici ;► 1 t.hil•ty k3,0 J,%y tact io,l Cot the Draft Negative Declaration was established by the f- State Clearinghouse. It began on June 16, 1992 and 4x ended on June 16 , 1992 . Public comment letters were accepted by the City of Huntington Beach through July 20 , 1992 . 3 . Notice of the Draft Negative Declaration was published on the Huntington Beach Independent on June 18 , 1992 . Upon request , copies of the document were distributed to agencies , groups , organizations , and individuals . III . COMMENTS Copies of all written comments received as of July 20 , 1992 are contained in Appendix A of this document . All comments have been numbered and are listed on the following pages . All comments from letters received have been retyped verbatim in a comment-response format for clarity. Responses to Comments for each comment which raised an environmental issue are contained in this document . IV. RESPONSE TO COMMENTS The Draft Negative Declaration No . 92-25 was distributed to responsible agencies , interested groups , organizations , and individuals . The report was made available for public review and comment for a period of thirty (30) days . The public review period for the Draft Negative Declaration established by the State Clearinghouse commenced on June 16 , 1992 and expired on July 16 , 1992 . However , since the Legal Notice for the negative dec.laration was not published until June 18 , 1992 , the City of Huntington Beach accepted comment letters through July 20 , 1992 . Copies of all documents received as of July 20 , 1992 are contained in Appendix A of this report . Comments have been numbered with responses correspondingly numbered . Responses are presented fo:_ each comment which raised a significant environmental issue . Several comments do not address the completeness or adequacy of the -Draft Negative Declaration, do not raise significant environmental issues , or request additional information. A substantive response to such comments is not appropriate within the context of the California Environmental Quality Act (CEQA) . Such comments are responded to with a "comment noted" reference . This indicates that the comment will be forwarded to all appropriate decision makers for their review and consideration . Negative Declaration No . 92-25 -2- ( 1569D) IiI3F�i�1 Comment • `'-'., The City of Huntington Beach Environmental Review Board has received and reviewed the above referenced project . This project consists of a request to adopt a "Presentation of Assisted Housing • Analysis and Programs" report , which would amend the Huntington Beach Housing Element . Response : The comment identifies the project and does not require any response . HBEB-2 : Comment : The Environmental Board concurs that a Negative Declaration is the appropriate environmental review for this project . The areas of potential concern appear to be adequately evaluated in the Negative Declaration . Response : The comment has been acknowledged and will be forwarded to decisionmakers prior to consideration on the proposed project . HBEB-3 • Comment : The Environmental Board recommends approval of Environmental Assessment Form/Negative Declaration No . 92-25 . If you have questions or concerns regarding our comments , please contact Carol Proctor , Review Subcommittee Chairperson for Environmental Assessment Form No . 92-25 . Response : Please Refer to HBEB-2 Response . DOT-1 : Comment : Thank you for the opportunity to review and comment on the Negative Declaration No . 92-25 Amendment to the City of Huntington Beach Housing Element . This element proposes to adopt the "Preservation of Assisted Housing : Analysis and Programs" Report . Negative Declaration No . 92-25 -3- (1569D) Response : Please refer to HBEB-1 response . DOT-2 : Comment : In the future, should there be new development approved by the city that is of greater intensity than is presently accounted for in the General Plan, Caltrans suggests a traffic circulation on state and local roads . Also, the city should devise mitigation measures to minimize traffic impacts as part of the traffic study. Response : The proposed project will not result in new development that is of greater intensity than is indicated on the City' s General Plan .. Please refer to HBEB-2 response . DOT-3 : Comment : We appreciate the opportunity to comment on this document and please keep us informed of other projects that have potential to impact state transportation facilities . If you have any questions concerning these comments , please do not hesitate to contact Aileen Kennedy of my staff at ( 714 ) 72.4-2239 . Response : Please refer to HBEB-2 response . Negative Declaration No . 92-25 -4- ( 1569D) y 1 APPENDIX A Negative Declaration No . 92-25 -5- ( 1569D) ti 4 , S';ATE OF CALIFORNIA—BUSINESS AND TRA$TATION AGENCY PETE WILSON, Governor ` DEPARTMENT OF TRANSPORTATION - DISTRICT 12 �s , 2501 PULLMA N STREET SANTA ANA, CA 92705 July 8, 1992 V Julie Osugi File: IGR/CEQA . City of Huntington Beach �UL1 `31gg2 Neg. Dec . Community Development 2000 Main Street Development Huntington Beach, Ca. 92648 Dept.()'Comm Subject : No . 92-25 Huntington Beach Housing Element Dear Ms . Osugi : Thank you for the opportunity to review and comment on thel Negative Declaration No . 92-25 Amendment to the City of Huntington; Beach Housing Element . This element proposes to adopt the}�o^'-1 "Preservation of Assisted Housing: Analysis and Programs " Report . I� In the future, should there be new development approved by the city that is of greater intensity than is presently accounted for in the general plan, Caltrans suggests a traffic study be prepared 2 that would address the impacts to traffic circulation on state and OT- local roads . Also, the city should devise mitigation measures to minimize traffic impacts as part of the traffic study. We appreciate the opportunity to comment on this document and please keep us informed of other projects that have potential to impact state transportation facilities . If you have any questions OT-3 concerning these comments , please_ do not hesitate- to contact Aileen Kennedy of my staff at ( 714 ) 724-2239 . Sincerely, ROBERT F J S PH Chief Advance Planning Branch cc : Tom Loftus, OPR Ron Helgeson, HDQTRS Planning - David Cordova, Traffic Operations Environmental Board _ CI1 Y Cis HUNTING I-ON BEACH t.il ..r I nx l�i(1 Huntington Bcach, - iifornia 92648 June 30 , 1992 TO: JULIE OSUGI, ASSISTANT PLANNER HUNTINGTON BEACH PLANNING DEPARTMENT FROM: CITY OF HUNTINGTON BEACH L of ENVIRONMENTAL BOARD SUBJECT: ENVIRONMENTAL ASSESSMENT FORM NO. 92-25 The City of Huntington Beach Environmental Board has received and reviewed the above referenced project. This project consists of a request to adopt a "Preservation of Assisted Housing: Analysis and11BEB Programs" report , which would amend the Huntington Beach Housing Element . The Environmental Board concurs that a Negative Declaration is the `Ta appropriate environmental- review for this project . The areas of HBEB potential concern appear to be adequately evaluated in the Negative. Declaration. The Environmental Board recommends approval of Environmental Assessment Form/Negative Declaration No . 92-25 . If you have HBEB-3 questions or concerns regarding our comments , please contact Caro]. Proctor, Review Subcommittee Chairperson for Environmental Assessment Form No. 92-25 . cc : Charles Montero, Chair Roy Richardson, Planning Commissioner --T-- 'STATE OF CALIFORNIA PETE WILSON, Govemot. GOVERNOR'S OFFICE OF PLANNING AND RESEARCH ..... 1400 TENTH STREET _ .SACRAMENTO.CA 95814 Jul 16, 1992 JULIE OSUGI CITY OF HUNTINGTON BEACH 2000 MAIN STREET HUNTINGTON BEACH, CA 92648 Subject: NEGATIVE DECLARATION NO. 92-25/ HOUSING ELEMENT NO. 92-1 SCH # 92061043 Dear JULIE OSUGI : The State Clearinghouse has submitted the above named proposed Negative Declaration to selected state agencies for review. The review period is now closed and the comments from the responding agency(ies) is (are) enclosed . On the enclosed Notice of Completion form you will note that the Clearinghouse has checked the agencies that have commented. Please review the Notice of Completion to ensure that your comment package is complete. If the comment package is not in order, please notify the State Clearinghouse immediately. Remember to refer to the project' s eight-digit State Clearinghouse number so that we may respond s. promptly. Please note that Section 21104 of the California Public Resources Code required that: "a responsible agency or other public agency shall only make substantive comments regarding those activities involved in a project which are within an area of expertise of the agency or which are required to be carried out or approved by the agency . " Commenting agencies are also required by 'this section to support their comments with specific documentation. Should you need more information or clarification, we recommend that you contact the commenting agency at your earliest convenience. This letter acknowledges that you have complied with the State Clearinghouse review requirements for draft environmental documents, pursuant to the California Environmental Quality Act. Please contact Tom Loftus at (916) 445-0613 if you have any questions regarding the environmental review process. Sincerely, Christine Kinne Acting Deputy Director, Permit Assistance Enclosures cc: Resources Agency � orae 1 � PRESERVATION OF � ASSISTED HOUSING � Analysis and Programs � City of Huntington Beach 1 1 1 1 1 CottoNBeland/Associates, Inc. CITY OF HUNTINGTON BEACH Draft PRESERVATION OF ASSISTED HOUSING: ANALYSIS AND PROGRAMS Appendix C to the Housing Element 1 ' July 17, 1992 ' Cotton/Beland/Associates, Inc. 747 E. Green Street, Suite 400 Pasadena, CA 91101 619 S. Vulcan Avenue, Suite 205 �. Encinitas, CA 92024 1 . CITY OF HUNTINGTON BEACH PRESERVATION OF ASSISTED HOUSING: ' ANALYSIS AND PROGRAMS TABLE OF CONTENTS Section Page i INTRODUCTION 1 INVENTORY OF UNITS AT RISK 2 COST ANALYSIS 10 COST COMPARISONS 18 RESOURCES FOR PRESERVATION 19 QUANTIFIED OBJECTIVES 22 PROGRAMS FOR PRESERVATION 22 CITY OF HUNTINGTON BEACH PRESERVATION OF ASSISTED HOUSING: ANALYSIS AND PROGRAMS LIST OF TABLES Page i Table 1 Assisted Housing Inventory 3 Table 2 Monthly Basic Rents for Section 8 Units 9 iTable 3 Monthly Rents for Mortgage Revenue Bond Units 10 Table 4 Costs of Transferring Ownership/ ' Purchase of Similar Units 13 Table 5 Estimated Tenant Profile of At-Risk Units 16 Table 6 Replacement Costs Per Unit 17 LIST OF FIGURES iFigure 1 Process for Prepayment Eligible Projects Under LIHPRHA 7 INTRODUCTION 1 The Huntington Beach Housing Element was adopted in July, 1990 as part of the 1989-1994 update cycle for jurisdictions in the SCAG region. The State Department of Housing and Community Development has determined the Element to be in compliance with State law. This report amends the Huntington Beach Housing Element, and will be integrated within the Housing Element upon the next periodic review of the Element in 1994. The purpose of this amendment is to bring the Housing Element into compliance with a recent amendment of housing element law, codified in Government Code Section 65583 (a)(8), (c)(6). Under this law, jurisdictions must evaluate the potential for currently rent restricted low-income housing units to convert to non-low-income housing and propose programs to preserve or replace those units. ' Consistent with State requirements, this report includes the following five components: 1. An inventory of restricted low-income housing projects in the City and their potential for conversion; 2. An analysis of the costs of preserving and/or replacing the units "at- risk" and a comparison of these costs; 3. An analysis of the organizational and financial resources available for preserving and/or replacing the units "at risk"; 4. Quantified objectives for the number of "at-risk" units to be preserved; 5. Programs for preserving the "at-risk" units. The State requires that the analysis include projects that are at risk of converting during the next two five-year Housing Element update periods. For Huntington Beach, this period extends from July 1, 1989 to July 1, 1999. i i 1 ' 1 INVENTORY OF UNITS AT RISK 1 This section identifies the low income housing units at risk of converting to non- low income housing uses prior to July, 1999 and evaluates the likelihood of conversion. The inventory includes all multi-family rental units assisted under federal, state, ' and/or local programs, including HUD programs, state and local bond programs, redevelopment programs, and local in-lieu fees, inclusionary, density bonus, or direct assistance programs. The inventory covers all units that are eligible to change to non-low income housing uses due to termination of subsidy contract, mortgage prepayment, or expiring use restrictions. The inventory was complied by interviews with City staff, the County Housing Authority, HUD, and review of "Inventory of Federally Subsidized Low-Income Rental Units at Risk of Conversion" (California Housing Partnership Corporation), and "The Use of Housing Revenue Bond Proceeds - 1990", (California Debt Advisory Commission). Table 1 presents an inventory of all low-income assisted rental housing in Huntington Beach. The City has nine subsidized rental housing projects in its ' jurisdiction; eight of these projects contain units that are eligible to convert to non-low income uses before July 1, 1999. Only one project - Huntington Villa Yorba - is at risk of conversion prior to July 1, 1994. Surfside Villas is a 75-unit family housing project assisted under HUD's Section 221(D)(4) program with a 20-year Section 8 contract due to expire in the year 2002. Projects financed under the Section 221(D)(4) market rate program alone have no binding income use restrictions. Affordability for Surfside Villas is, however, controlled by the 20-year Section 8 contract. When the contract expires in the year 2002, the owner of Surfside Villas can choose to opt out of Section 8 program as long as a Notice of Intent is filed one year prior to contract expiration. The conversion potential and costs of preservation associated with this project will be analyzed in detail in the next Huntington Beach housing element update. 2 rr r rr rr r� �r r� rr M M rr rr M rs M (ar- M M M TABLE 1 CITY OF HUNTINGTON BEACH ASSISTED HOUSING INVENTORY Length of Affordability Earliest Total # Type(s) of Controls Potential # of Units of Units Tenant Type Proj. Name Owner: Gov't (including Conversion Subject to in (i.e. Elderly, At-Risk Units Date Address Name,Address Assistance Sec. 8) Date(s) Conversion Project Family) Bedroom Mix Built Condition Huntington Villa Yorba Huntington Villa Assoc. HUD 40-year mortgage; 9/93 198 198 Family 21 -for 1965 Goo 16000 Villa Yorba 1800 Ave of the Stars, 236(J)(1) 20-year prepay- 157 -2br Huntington Beach Ste. 1400 ment option 20 -3br CA 92648 Los Angeles, CA 90067 Huntington Beach Huntington Beach HUD 40-year mortgage; 4/15/96 66 66 Family 15-for 1975 Good Gardens Gardens 236(J)(1) 20-year 33-2br 16900 Algonquin c/o Southwest prepayment option 18-3br Huntington Beach Development Co. CA 92648 260 Maple Ct. Ste. 205 Ventura, CA 93003 Section 8 6/25/94 6 66 Wycliffe Gardens Wycliffe Assoc. HUD 231 40-year mortgage; — — 185 Elderly 185-1br 1981 Very.Good 18765 Florida Ave. 202 S. Prospect Ave. No prepayment Huntington Beach Orange, CA 92669 option CA 92648 Section 8 15-year contract 3/12/96 185 185 Seabridge Villas JMB Institutional City Multi- 10-year 2/95 69 344 Family 56-1 br 1984 Very G 20251 Cape Coral Ln 875 N. Michigan Ave., Family 13-2br Huntington Beach Ste. 3900 Revenue CA 92648 Chicago, II 60611 Bond Harbor Gateway Lincoln Property City Multi- 10•year 10/95 20 102 Family 14-1 br 1986 Very Good 4691 Warner Ave, 17011 Beach Blvd. Family 6-2br Huntington Beach Ste. 1400 Revenue CA 92648 Huntington Beach, CA Bond 92647 m m man r r m m m m M M M s M r TABLE 1 CITY OF HUNTINGTON BEACH ASSISTED HOUSING INVENTORY (continued) Length of Affordability Earliest Total # Type(s) of Controls Potential #of Units of Units Tenant Type Proj. Name Owner: Gov't (including Conversion Subject to in (i.e. Elderly, At-Risk Units Date Address Name,Address Assistance Sec. 8) Dat (s) Conversion Pro11'ect Familyy) Bedroom Mix Built Conditio Rivermeadows Fritz Hoelscher City Multi- 10-year 10/95 31 152 Family 31 -1br 1985 Very Good 8945 Riverbend 4665 MacArthur Ct. Family Huntington Beach Ste.275 Revenue CA 92648 Newport Beach, CA Bond 92660 Huntington Village William Lyon &Assoc. City Multi- 10-year 11/96 23 114 Elderly 23-1br 1986 Very Good 16171 Springdale 4921 Birch St. Family Huntington Beach Ste 101 Revenue CA 92648 Newport Beach, CA Bond 92660 Huntington Breakers c/o August Financial City Multi- 10-year 7/99 68 342 Family 25-studio 1984 Good 21270 Beach Blvd. Corp. Family (Project refinanced 36-1br Huntington Beach P.O. Box 22630 Revenue in 1989) 7-2br CA 92648 Long Beach, CA 90801 Bond Surfside Villas Goldrich &Kest HUD — — 0 75 Family 31 -2br 1982 Very Go 7795 Neptune 5150 Overland Ave. 221(D)(4) 22-3br Huntington Beach Culver City, CA 22-4br CA 92648 902350 Section 8 20-year contract 1 6/15/02 75 1 75 Source: Compiled by Cott o n/B elan d/As s ociates,April, 1992. Description of At-Risk Projects ' Huntington Beach has three federally assisted rental housing projects at risk of conversion prior to July, 1999. Two projects -- Huntington Villa Yorba and Huntington Beach Gardens -- are subsidized under the Section 236(J)(1) program ' and are eligible for mortgage prepayment. Under this program, projects receive reduced interest mortgage loans from HUD in exchange for low-income use restrictions on all units in the project. Projects carry 40-year mortgages with the option to prepay the loan after 20 years and opt out of the affordability controls. The earliest potential conversion date for the 198-unit Huntington Villa.Yorba project is May, 1993 and April, 1996 for the 66-unit Huntington Beach Gardens project. The other "at-risk" HUDJ project in Huntington Beach is Wycliffe Gardens. p g Y Wycliffe Gardens is a 185-unit Section 231 elderly housing project which is not eligible to prepay its mortgage. However, Wycliffe Gardens maintains a Section 8 contract for all 185 units. The Section 8 contract is due to expire in March, 1996. ' In addition to the three at-risk HUD projects, Huntington Beach has five rental housing projects assisted under the City's Multi-Family Mortgage Revenue Bond Program - Seabridge Villas, Harbor Gateway, Rivermeadows, Huntington Village, and Huntington Breakers. Under this program, the City provides preferential financing for multi-family rental housing projects in exchange for ten-year low- income use restrictions on 20 percent of the units in each project. According to the bond agreements, a total of 211 units in the City's five bond projects are rent-restricted, although 240 units are currently renting to lower income households. The 1991 low-income limit utilized in the bond projects is based on a HUD median family income of $52,200 for the Anaheim-Santa Ana region. Low-income units in the City's five bond projects are subject to the following expiration dates. Seabridge Villas is a 344-unit housing project with 69 units set- aside for lower income households. Use restrictions on Seabridge Villas are eligible to expire in February, 1995. Harbor Gateway is 102-unit housing project, with 20 rent-restricted units. Use restrictions on these units are eligible to expire in October, 1995. The 152-unit Rivermeadows has 31 rent-restricted units. Use restriction on this project will expire in October, 1995. Huntington Village is a 114-unit project for elderly. Twenty-three units in Huntington Village are subject to low-income use restrictions due to expire in November, 1996. Huntington Breakers is a 342-unit project built in 1984 with 68 rent-restricted units. The project owner refinanced the bond with the City in 1989, and extended affordability controls until July, 1999. 5 i i 1 Conversion Potential A total of 660 low-income units (25 studio, 381 one-bedroom, 216 two-bedroom, ' and 38 three-bedroom units) are at risk of losing some form of public rental assistance in Huntington Beach prior to July, 1999. The likelihood that the "at risk" units will convert to market rate will depend primarily on the availability and attractiveness of incentives encouraging their continued use as low-income housing. This section analyzes the potential for conversion based on the legal provisions and incentives regulating the affordability of these units. HUD e Mortg ag Prepayment aY g ment Eligible Units: A total of 264 rental units in Huntington Beach are at risk of converting to non-low-income use through the process of prepaying HUD Section 236 loans. Prepayment of Section 236 loans was regulated by the provisions of the Emergency Low-Income Housing Preservation Act (ELIHPA), otherwise known as Title II of the Housing and Community Development Act of 1987. This legislation was subsequently replaced in 1990 by the Low-Income Housing Preservation and Resident Homeownership Act (LIHPRHA, or Title VI of the National Housing Act of ' 1990). If the owner was eligible for prepayment before September 30, 1991 and filed a "Notice of Intent" to prepay between November 1987 and December 31, 1990, then the owner has the option to use either ELIHPA or LIHPRHA. Project owners must have decided which laws to use by February, 1992. After this date, owners are only eligible to use LIHPRHA, which became effective on May 8, 1992. Given the potential conversion dates of Huntington Villa Yorba ' and Huntington Beach Gardens as indicated in Table 1, prepayment of both projects will be regulated by LIHPRHA. Figure 1 illustrates the process for prepayment eligible projects under LIHPRHA. Under LIHPRHA provisions, owners of prepayment eligible projects can choose to retain project ownership in exchange for additional federal incentives, or sell ' their properties under a voluntary sale program. Where owners choose to sell, tenants, non-profit and governmental entities are provided with an exclusive 12-month negotiating period. Prepayment and conversion of the housing to 1 non-low-income use can only occur if there is no willing buyer to purchase a project. A Notice of Intent may be filed up to two years prior to the scheduled prepayment date to indicate the owner's preliminary decision regarding sale of I property versus stay-in as low-income. Within nine months after filing the Notice of Intent, the owners must prepare a "Plan of Action" for submittal to HUD. A Plan of Action must include: any proposed changes in the mortgage or in the regulatory agreements; a description of federal, state, and local incentives that ,. are being requested as part of the effort to own and develop the property; and any proposed plans to transfer the title of the property and/or sell. More specifically, LIHPRHA provides the owners of eligible projects an opportunity to receive additional federal incentives for projects, enabling them to raise rents and refinance a portion of their equity, while extending low-income use restrictions for the remaining useful life of the project. The useful life of a ' 6 Huntington Villa Yorba(Section 236(J)(1)) Huntington Beach Gardens (Section 236(J)(1)) /.ill 's,':'/,.U.i ::.f.%/a%/'fF;•:%,i f,;l,.+/F.+,f Fr':.,/.%i f,: /,/,ram%;:: :f,%f .:ilif friii;•f,',%l.:rii!/.• :;i'f,%/, 4 • Option 1: Continue low-income restrictions with HUD incentives Option 2: Sell to non-profit or government entity Option 3: Prepay mortgage and convert to 5 ' market rate housing 9 Months i%%� Ff,•i,";•,'•,'7Y/»•/:::+;:r/f;::: :.,,,,F:; •r.'l.':; :::::; ;:.eei;%bit +i ; :,..�,•r,''+. F F ''v'i;::i %::::>:»ii:�:�:i :•rir'::ir::;;':i:: i:::::i:%•ri:•:::5::�>.:t•r,':%iif./ffr.';iii:i%fil.:•rY},%s,'ii - Rent increases f -Additional Section 8 subsidies ; -241(f) equity take-out loan 12 Months Giii:Li:p:ii::'vi+i:%i:'li:'lJ..ii::.i4i:?ki:!.i:r,.:?!?:ii:i::�?r i'F..%iiry3%r::Yi.?,ii.4ivi.?:!•:?+:fF/.?{Liiii 6 months for HUD and Public Review Renegotiate f Ne otiations with No bona fide to extend income use g restriction for the usefull HUD fail offer life of the building f 3 Note: Refer to page 7 for discussion of " • • • • • • - I LIHPRHA- Low Income Housing • • • Preservation and Resident Homeownership Act • • };'!%:•::::f.•:•.:•'r'i'r'iiX?�i'e'e:•i'•. ::�el�` •.::f%+.i�l•.%%!?i:?:ii (Ca6a Figure 1 Process for Prepayment Eligible Projects Under LIHPRHA 0 ' project refers to the expected physical life of a building with normal maintenance and repairs, as well as replacement of utilities such as plumbing. HUD officials 1 have indicated that the useful life of a building is usually 70 years. Thus, use restrictions will be extended for an additional 50 years if owners decide to maintain the projects as low-income under LIHPRHA. HUD will establish 1 standards and procedures for determining when the useful life of a building expires. Under LIHPRHA, the difference between the tenants' portion of the rent (30 percent of income) and market rent in Section 236 projects is covered ' by a Section 8 contract for both very low and low-income tenants. Section 8 Units: Huntington Beach Gardens maintains a Section 8 contract for six of the project's 66 units. Potential expiration date for this Section 8 contract ' is in June, 1994. Wycliffe Gardens maintains a Section 8 contract for all of the project's 185 units. The Section 8 contract for Wycliffe Gardens will be eligible to expire in March, 1996. 1 Basic rent levels are established for each project with a Section 8 contract with HUD. Basic rent is the maximum Fair Market Rent for an apartment unit. It is the maximum amount of rent an owner can collect on a unit from 30 percent of the tenant's income combined with Section 8 subsidies from HUD. As shown in Table 2, both Huntington Beach Gardens and Wycliffe Gardens are receiving substantially lower basic rents than average market rate rents in the City or than the maximum Fair Market Rents for Orange County. The projects can potentially command higher rents if the owners decide to opt out of the Section I8 program and convert to market rents. The underlying Section 236 mortgage on Huntington Beach Gardens is subject to 1 LIHPRHA (described above). Under LIHPRHA, project owners can request additional financial incentives from HUD if they choose to extend the length of affordability controls on the project. As long as use restrictions on the Section ' 236 mortgage or an approved Plan of Action pursuant to LIHPRHA are in effect, the Section 8 contract is likely to be renewed. Therefore, the potential expiration of the Section 8 contract for Huntington Beach Gardens will be ' dependent upon the negotiations on the Plan of Action between HUD and the property owners. ' Wycliffe Gardens is funded under HUD's Section 231 program. Low-income use restrictions on the project are locked-in for the full 40-year mortgage term which is not due to expire until April, 2021. Also, as the project is owned by a non- profit entity, its long-term affordability is fairly secure. Discussion with the management of Wycliffe Gardens indicates that the project owners will continue to renew the Section 8 contract. ' 8 1 i ' TABLE 2 MONTHLY BASIC RENTS FOR SECTION 8 UNITS 1 Basic Rent (Ma)dmum Fair Market Rent (2) by Pro'ect Huntington (3) Beach Orange County Huntington Average Market Maximum Fair Unit Size Beach Wycliffe Rents Market Rent Gardens 1 Gardens 1 ' One-bedroom $281 $527 $755-$990 $ 764 Two-bedroom ,$317-$329 $700-$1,025 $ 900 Three-bedroom $361-$510 ---- $850-$1,260 $1,125 ' Source: Compiled by Cotton/Beland/Associates, May, 1992. Notes: (1) As reported by building managers of Huntington Beach Gardens and Wycliffe Gardens, May, 1992. (2) Survey of rental rates by the City of Huntington Beach, July, 1992. Beach. (3) Orange County Housing Authority, May, 1992. This HUD fair Market Rents schedule includes utility costs to be paid by tenants. ' Mortgage Revenue Bond Units: A total of 211 low-income units (25 studio, 160 one-bedroom, and 26 two-bedroom units) in five bond projects are at risk of converting to non-low-income use prior to July, 1999. Table 3 presents the ' differentials in rental rates between the rent-restricted and market-rate units in each of the five multi-family mortgage revenue bond projects in Huntington Beach. By analyzing the potential increase in rents achievable through ' conversion to market rate, the relative incentive for conversion can be assessed. The difference between rental rates in market rate and rent-restricted units are more significant in Seabridge Villas, Harbor Gateway, and Huntington Breakers than in Rivermeadows and Huntington Village. Rent differentials between restricted and unrestricted units are most significant in Seabridge Villas, ranging potentially from $175 to $275 for a one-bedroom unit and $190 to $325 for a two-bedroom unit. Rent differentials in Huntington Breakers can potentially range from $110 for a studio unit, $150 to 175 for a one-bedroom, and $160 to $185 for a two-bedroom units. In Harbor Gateway, the maximum rent differential is $150 for a one-bedroom unit. Given the rental rates shown in Table 3, there are definite monetary incentives for the owners of Seabridge ' Villas, Harbor Gateway, and Huntington Breakers to convert their units to market rate. If there were a conversion, the economic impacts on the low- income tenants in these three projects would be significant. 9 ' TABLE 3 MONTHLY RENTS FOR MORTGAGE REVENUE BOND UNITS Rent-Restricted Units (1) Market Rate Units (2) ' Project Studio 1-Bdrm 2-Bdrm Studio 1-Bdrm 2-Bdrm Seabridge Villas ---- $700 $875 ---- $875-$990 $1,06541,200 ' Harbor Gateway $875 $975 ---- $925-$1,025 $1,025 Rivermeadows $750 $790-$860 Huntington Village ---- $710-$725 ---- ---- $755-$778 ---- Huntington Breakers $625 $750 $985 $735 $900-$925 $1,14541,170 Rental Range $625 $700-$875 $875-$985 $735 $755-$1,025 $1,02541,200 ' Source: Compiled by Cotton/Beland/Associates, May, 1992. Notes: (1) Compiled from Yearly Housing Bond Issuance Reports for Fiscal Year 1990-91, and updated by telephone interviews with building management of each project. ' (2) Compiled from telephone interviews with building management of each project and supplemented with information provided by the City of Huntington Beach. COST ANALYSIS ' The following discussion examines both the cost of preserving the units at risk in Huntington Beach ,and the costs of producing new rental housing comparable in ' size and rent levels to replace the units which could convert. A cost estimate has been developed for each option based on information provided from the County Housing Authority, the project's management company, and local developers. Actual costs involved in each option will also depend on the rental and real estate market situations at the time the low-income use restrictions on the projects expire. ' Preservation Costs Preservation of the at risk units can be achieved in different ways depending on the financing mechanisms used and the legal provisions and incentives regulating the affordability of these units. Options available for the preservation of the at- risk units include: 1) preserve the projects as low-income by offering additional federal incentives to the projects; 2) facilitate the transfer of ownership of these projects to or purchase of similar units by non-profit organizations; 3) refinance mortgage on projects to extend affordability controls; or 4) assist qualified ' 10 1 • • tenants in obtaining Section 8 certificates from the Orange County Housing Authority. ' All but the refinancing option are applicable to HUD prepayment eligible projects. At-risk units primarily subsidized with Section 8 contracts may be preserved by transferring ownership, purchasing similar units, or using Section 8 certificates. At-risk units in City mortgage revenue bond projects may be preserved by purchasing similar units, using Section 8 certificates, or refinancing the bonds. The following estimates the costs associated with each option for at- risk projects in Huntington Beach. ' Continue as Low-Income with Federal Incentives: Under LIHPRHA, HUD mortgage prepayment eligible projects may choose to continue as low-income in exchange for additional federal incentives. Incentives include: rent increases to guarantee an eight percent return on project investment; Section 8 contract to cover both very low and low-income tenants; and 241(f) equity take-out loan. Once extended, affordability controls on the project will remain effective for the remaining useful life (approximately an additional 50 years) of the project. HUD has established the Federal Cost Limit to determine a project's eligibility for full federal incentives. As long as a project's annual preservation rent (eight ' percent return on equity, debt services on rehab loan and HUD first mortgage, operating expenses, and reserves combined) does not exceed the Federal Cost Limit, the owner may file a Plan of Action for Full federal incentives. Under ' LIHPRHA, the Federal Cost Limit is currently set at 120 percent of the Section 8 Fair Market Rent or 120 percent of the local market area rent, whichever is greater. ' As previously shown in Table 2, Section 8 Fair Market Rents in Huntington Beach are substantially lower than market rents. Using Fair Market Rents as ' estimates, monthly Federal Cost Limit for Huntington Villa Yorba is at least $2,158,128 and for Huntington Beach Gardens is $736,920. The actual cost comparison to determine eligibility for federal incentives will be performed by HUD officials when the project owners file a Notice of Intent. Transfer Ownership/Purchase of Similar Units: Another preservation option is ' to transfer ownership of the projects with at risk units to community-based non- profit or government entity, such as the Orange County Housing Authority. By transferring the ownership of these projects to non-profit housing organizations, low-income use restrictions can be secured, and the projects will become eligible for a greater range of government assistance programs. However, transfer of ownership is more likely an option for HUD prepayment eligible projects than for City bond projects. Because the bond-financed projects contain only 20 percent rent-restricted units, it is unlikely that the current owners would choose to sell these projects at rates affordable to non-profit entities. Therefore, with respect to bond-projects, it would be more feasible to purchase 11 r similar existing units by non-profits. Also, since Wycliffe Gardens is already owned by a non-profit organization, the following analysis is only relevant to the ' other seven projects with at-risk units. Assessed value for a piece of property is established primarily for tax purposes. ' Re-assessment of property value occurs only when there is a transfer of ownership; otherwise, inflation on the assessed value is capped at an annual rate of two percent. Therefore, a property's assessed value is usually lower than its current market value. However, with the absence of current market value information on the at-risk projects, current assessed values shown in Table 4 are used to establish an order of magnitude reference for estimating preservation ' costs. Given the good condition of the at-risk projects, maintenance costs are likely to be low. Therefore, it is assumed that rental income and HUD Section 8 subsidies will defray monthly mortgage and maintenance costs. Under LIHPRHA, HUD will provide mortgage loan insurance on acquisition loans for up to 95 percent of the equity to priority purchasers. If, theoretically, Huntington ' Villa Yorba and Huntington Beach Gardens were sold to qualified non-profits prior to extending the 20-year mortgages with the current owners, total preservation cost for these two projects would amount to $4,595,047, the sum of their valuations. A total downpayment cost of $229,752 would be required - $158,822 for Huntington Villa Yorba and $70,930 for Huntington Beach Gardens. Assuming a 10 percent downpayment to purchase existing units similar to the at- risk units in the bond projects, the potential buyers will need to secure mortgage loans totaling $15,671,658 and total downpayments of $1,741,296, for the purchase of units similar to those in Seabridge Villas, Harbor Gateway, Rivermeadows, Huntington Village, and Huntington Breakers. Table 4 ' summarizes the estimated costs associated with transfer of ownership of each project. 1 12 0 • ' TABLE 4 COSTS OF TRANSFERRING OWNERSHIP/PURCHASE OF SIMILAR UNITS ' At-Risk Units Assessed At-Risk Units Mortgage Project Value Downpayment Loan Huntington Villa Yorba Rent-Restricted Units (100%) $ 3,176,447 $158,822 $ 3,017,624 Huntington Beach Gardens Rent-Restricted Units (100%) $ 1,418,600 $ 70,930 $ 1,347,670 Seabridge Villas ' Entire Project $38,338,740 Rent-Restricted Units (20%) $ 7,667,748 $766,775 $ 6,900,973 Harbor Gateway Entire Project $ 8,149,137 Rent-Restricted Units (20%) $ 1,629,827 $162,983 $ 1,466,844 ' Rivermeadows Entire Project $16,402,832 Rent-Restricted Units (20%) $ 3,280,566 $328,057 $ 2,952,509 Huntington Village Entire Project $ 6,935,141 Rent-Restricted Units (20%) $ 1,387,028 $138,703 $ 1,248,325 Huntington Breakers ' Entire Project $17,238,920 Rent-Restricted Units (20%) $ 3,447,784 $344,778 $ 3,103,006 Total Rent-Restricted Units $22,008,000 $1,971,048 $20,036,952 Source: Current assessed values obtained from the Orange County Assessor's Office, May, 1992. ' 13 ' Refinance Mortgage Revenue Bond: Another option to preserve the low-income use restrictions on the five City multi-family housing bond projects is to refinance the mortgage revenue bonds that were issued to the respective owners. ' If refinanced the J ro'ects would be re uired b the 1986 Tax Reform Act to P q Y commit their 20 percent low-income units for the greater of 15 years or as long ' as the bonds are outstanding. City records indicate a bond total of $25,000,000 was issued to Seabridge Villas, $8,165,000 to Harbor Gateway, $10,000,000 to Rivermeadows, $7,700,000 to Huntington Village, and $16,000,000 to Huntington ' Breakers. To ensure the affordability of the 211 bond-financed income restricted units in Huntington Beach, the City can negotiate with the project owners to refinance the bonds. The costs to refinance each bond would therefore include the difference in interest rates on the remaining debt between the previous and the ' renegotiated bond packages, an issuance cost which amounts to approximately 3 percent of the bond to be paid upfront by the City, and administrative costs. Project owners may not have a financial incentive to refinance unless the bond structures allow for interest rates that are well below rates on the initial bonds, and are combined with other incentives. More often, property owners prefer to either sell the property or to seek refinancing opportunities from private lending institutions and therefore be able to opt out of affordability controls. The ten-year use restrictions on the Huntington Breakers low-income units were initially eligible to expire in 1994. The City refinanced the mortgage on Huntington Breakers in 1989 and extended the use restrictions on 20 percent of the units for an additional 5 years until 1999. The City has experience and ' technical expertise in bond refinancing and has expressed the intention to preserve the at-risk units in bond projects by encouraging bond project owners to refinance. The City's Redevelopment Housing Set-Aside fund could be used to refinance mortgage revenue bonds. Rent Subsidy: When the low-income use restrictions on the at-risk units expire and units are converted to market rate, Section 8 certificates can be used to subsidize the property owners for extending the affordability of those units. Under the Section 8 certificate program, HUD pays owners the difference between what tenants can pay (defined as 30 percent of household income) and what HUD and the local Housing Authority estimate to be Fair Market Rent on the unit. Section 8 certificates are only available to very low-income households - households earning less than 50 percent of the County median income. The 1992 HUD median income for the Anaheim-Santa Ana region is $52,700. Assuming ' the average very low-income household has an income at 30 percent of the regional median income, the average income of Section 8 recipients in Orange County would be $15,810. Under these assumptions, monthly housing costs affordable to Section 8 recipients are estimated to be approximately $395 (based ' 14 on HUD's definition of affordable housing costs as 30 percent of household income). ' According to the Orange County Housing Authority, Fair Market Rent is $630 for a studio unit, $764 for a one-bedroom unit, $900 for a two-bedroom unit, and $1,125 for a three-bedroom unit. Thus, the difference between housing cost ' affordable to very low-income households and the Fair Market Rent is $235 for a studio unit, $369 for a one-bedroom unit, $505 for a two-bedroom unit, and $730 for a three-bedroom unit. ' Because Section 8 certificates are only available to very low-income households, use of Section 8 subsidies as a means of extending affordability controls on the City's at-risk units would not benefit tenants that are low-income. Table 5 estimates the number of very low income tenants in each at-risk project. Approximately half (328) of the rent-restricted units are currently occupied by ' very low-income households. Given the bedroom mix in each project and the distribution of very low-income households as shown in Table 5, there are an estimated four studio, 227 one-bedroom, 85 two-bedroom, and 12 three-bedroom ' rent-restricted units currently occupied by very low-income households. Section 8 subsidies required to maintain the affordability of these units would be approximately $136,388 monthly, or $1,636,656 annually. ' Furthermore, the Orange County Housing Authority Section 8 program has a waiting list of over 15,500 applicants and a waiting period of two to eight years. The County Housing Authority Section 8 program has closed applications since November, 1991, though it plans to reopen later this year. 15 1 ' TABLE 5 ESTIMATED TENANT PROFILE OF AT-RISK UNITS ' Total Lower- Very Low-Income Low-Income Income ' Project Households Households Households HUD Projects ' Huntington Villa Yorba 99 99 198 Huntington Beach Gardens 6 60 66 Wycliffe Gardens 185 0 185 ' Bond-Financed Projects Seabridge Villas 10 59 69 Harbor Gateway 2 18 20 ' Rivermeadows 4 27 31 Huntington Village 12 11 23 Huntington Breakers 10 58 68 Total 328 332 660 Source: Compiled by Cotton/Beland/Associates, May, 1992. ' Note: The Yearly Housing Bond Issuance Reports include the number of very low and low- income households currently residing in the projects. In several instances, there are ' more lower income households in these projects than the required 20 percent. The distribution of very low and low-income households shown in this table has been adjusted to reflect only the 20 percent requirement, assuming half of the households currently ' classified as very low-income under the bond program may not qualify for Section 8 subsidies. Also, the table assumes half of the tenants in Huntington Villa Yorba are very low-income households. 1 1 1 ' 16 1 Replacement Costs ' This section analyzes cost of constructing new low-income housing units to replace the 660 assisted units in HUD and bond projects in Huntington Beach should they be converted from low-income uses. The cost of developing new ' housing depends upon a variety of factors such as density, size of the units (i.e. number of bedrooms), location and related land costs, and type of construction. Table 6 shows the average per unit development cost by unit type in Huntington Beach. Based on estimates by City staff, per unit development cost in Huntington Beach is approximately $111,710 for a studio, $122,954 for a one- bedroom, $140,080 for a two-bedroom, and $153,553 for a three-bedroom unit. ' These estimates are based on a construction cost of $63 per square foot and include permit processing fees, infrastructure connection fees, and impact fees. Using the per unit cost estimates shown in Table 6, the cost to replace the 660 ' assisted units in Huntington Beach would run approximately $85,730,548, requiring a minimum downpayment of $8,573,055. This amount is substantially higher than the $22,008,000 preservation cost and related $1,971,048 ' downpayment under a transfer of ownership scenario, the $1,636,656 annual Section 8 subsidies, or the costs (plus administrative fees) to refinance the bonds. ' TABLE 6 REPLACEMENT COSTS PER UNIT Average Construction Total ' Unit Type Unit Size Land Cost/Unit Cost/Unit Costs Unit Studio 500 sq. ft. $75,000 $36,710 $111,710 One-bedroom 650 sq. ft. $75,000 $47,954 $122,954 ' Two-bedroom 900 sq. ft. $75,000 $65,080 $140,080 Three-bedroom 1,100 sq. ft. $75,000 $78,553 $153,553 ' Source: City of Huntington Beach, July, 1992. Note: Per unit costs are estimated on the basis of minimum sizes according to the City's ' Zoning Code. Cost estimates include: permit fees for building, electrical, plumbing and mechanical permits; impact fees for parks and recreation, schools, library, and traffic; and infrastructure connection and impact fees for sewer (City), sewer (County), water, and water conservation. t17 1 COST COMPARISONS ' Ownership transfer usually involves the project in its entirety and thus is more Owne h p y p J y , likely to be used by HUD prepayment eligible projects rather than bond projects where only a portion of the project units are reserved for lower-income households. Also, the costs of transferring ownership of a project to a public or non-profit agency are based on the projects' current values, which are usually 1 marked-up to incorporate inflation and profit for the existing owners. Purchase of similar units by non-profit organizations is also costly and purchasing opportunities cannot be guaranteed. The total cost to preserve the 660 at-risk units in Huntington Beach or to maintain the assisted housing stock by means of transferring ownership and purchasing similar units is estimated at $22,008,000, with a total downpayment cost of $1,971,048. Use of Section 8 subsidies has several drawbacks. First, only very low income households are eligible, rendering only 328 households of the total 660 at-risk ' households in the City eligible for assistance. In addition, rent subsidies do not ensure long-term unit affordability. The costs associated with rent subsidies are high, requiring approximately $1,636,656 annually. HUD is committed to providing subsidies for the preservation of the federally assisted units. For prepayment eligible projects, the most cost-effective option is ' to encourage the owners to maintain the projects as low-income with federal incentives. Because the costs to refinance an existing bond under the current owner(s) are ' based primarily on the outstanding debt, refinancing the existing bond is probably the least costly preservation option for bond-financed projects. In 1989, the City ' refinanced the mortgage on Huntington Breakers using a variable interest rate. The City can use a similar approach to refinance other bond projects and preserve the at-risk units. ' 18 RESOURCES FOR PRESERVATION ' This section discusses two types of resource available for preserving "at risk" YP p g units: a) financial resources potentially available to purchase or supplement ' existing units, or to build replacement housing, and b) entities with the interest and ability to purchase and/or manage replacement units. ' Financing/Subsidy Resources There are a variety of potential funding sources available for potential acquisition, subsidy, or replacement of units at risk. Due to both the high costs of developing and preserving housing and limitations on both the amount and uses of funds, a variety of funding sources may be required. HUD Funds: Under LIHPRHA, IIUD will provide the owners of Huntington Villa Yorba and Huntington Beach Gardens with incentives which enable them to raise rents and refinance a portion of their equity, while extending low-income use restrictions for the remaining useful life of the projects (approximately 50 additional years). The difference between the tenant's portion of the rent and ' market rent will be covered by Section 8 contracts. Should a nonprofit instead take ownership of the project, the following HUD incentives would be offered: ' o Mortgage insurance for acquisition loans for 95 percent of equity. o Project-based Section 8 contracts, with HUD-subsidized rents set at ' levels high enough to provide an eight percent return to owners who retain the project or to cover debt service on an acquisition loan for new purchasers; 0 Grants to non-profit buyers that would fill any gap between fair market rent or local market rent (whichever is higher) and allowable rents. Redevelopment Set-Aside: The City's Redevelopment Agency has accumulated approximately $3,000,000 in the Redevelopment Housing Set Aside Fund, available for future affordable housing activities. The Housing Set Aside Fund can be used for a variety of affordable housing construction and preservation activities including: land disposition and write-downs, site improvements, loans, grants, issuance of bonds, land and building acquisition by Agency, direct housing construction, housing rehabilitation, rent subsidies, redevelopment funds, and administrative costs for non-profit housing corporations. The City is in the ' process of developing programs and guidelines for the expenditure of the Housing Set Aside Fund. The Set-Aside Fund can potentially be a significant funding source for the preservation of assisted housing. ' 19 1 CDBG Funds: Through the Community Development Block Grant (CDBG) program, HUD provides funds to local governments for funding a wide range of ' community development activities. As an entitlement jurisdiction, Huntington Beach receives CDBG monies directly from HUD which the City utilizes for a variety of housing and social service activities. For Fiscal Year 1991-92, the City anticipates to receive approximately $2,004,947 of CDBG funds, of which ' $700,000 is committed to housing rehabilitation and $85,650 is committed to homeless services and facilities. The City can potentially direct a portion of the uncommitted CDBG funds toward the preservation of assisted housing. ' General Revenues: The City does not currently fund housing programs out of general revenue funds and, consequently, does not have any general revenue funds set aside for housing. Housing Authority Reserves: Other potential sources of funding are the reserves of housing authorities. The Orange County Housing Authority currently has roughly $8.5 million to use to provide housing opportunities throughout the County. This money is subject to some restrictions and priority is given to ' projects which provide for the leverage and recycling of funds. Orange County Affordable Housing Clearinghouse: The Orange County ' Affordable Housing Clearinghouse is a consortium of lending institutions and community groups focused on providing funds for affordable housing through team lending. Sixteen lending institutions are currently members of the coalition. ' Because the coalition is new and is still in the process of being set up, it does not currently have a track record in the community. However the financial assets and expertise of coalition members suggest that this should be a significant source of funds for low-income housing in Orange County in the future. Administrative Resources An alternative to providing subsidies to existing owners to keep units available as low income housing is for public or non-profit agencies to acquire or construct housing units to replace "at risk" units lost to conversion. Non-profit ownership assures the future availability of purchased units as low-income housing. Several public and non-profit agencies are currently active or have expressed an interest in purchasing and/or managing at-risk, low-income housing projects in Orange ' County. The Orange County Community Housing Corporation (OCCHQ: OCCHC is the oldest and largest non-profit affordable housing developer in Orange County. With assets exceeding $6.6 million, OCCHC has been involved in 14 housing projects for very low-income large families throughout Orange County. Developments by OCCHC include: 1) Domingo Avenue Apartments (28 units), Newport Beach; 2) Berry Street Apartments (4 units), Anaheim; 3) Coffield Apartments (24 units), Dana Point; 4) Irvine Condominiums (6 units), Irvine; 5) ' Buena Street Apartments (28 units), Garden Grove; and 6) Keel Street Shelter 20 ' (8 units), Garden Grove. OCCHC participates in the management as.well as..the development of low income housing and has expressed interest in "at risk" units in Huntington Beach. Contact: Allen Baldwin (714) 558-6006. ' Civic Center Barrio Housin Corporation: Civic Center Barrio Housing g rP g Corporation also has considerable experience in, and resources for, the ' development and or management of low income housing. Barrio Housing owns and operates over 130 housing units in Orange County and San Diego County and has been involved in the development of over 400 affordable units. Barrio ' Housing has staff of three full time employees and has been operating in Orange County for 16 years. Representatives from Barrio Housing indicate that the corporation would be interested in preserving at-risk units in Huntington Beach. Contact: Alana Baker (714) 835-0406. Council of Orange County, Society of Saint Vincent De Paul: The Society of Saint Vincent De Paul provides many social services in Orange County such as food distribution and medical services. The Society is also in the process of developing a congregate housing project in Orange County and plans to continue ' to expand its housing operations. Including the value of donated time and goods, the Society has an annual revenue of $9.8 millon and employs a staff of 75 persons. The Society has expressed interests in preserving at-risk housing in ' Huntington Beach. Contact: Scott Mather (714) 633-9195. HomeAid: HomeAid is a non-profit corporation established by the Building ' Industry Association of Southern California to help alleviate the homeless problem in the region. The HomeAid program has a dual focus: to construct or renovate shelters for the transitionally homeless and to develop housing for lower ' income families and individuals. Representatives of HomeAid have expressed the agency's interest in preserving at-risk housing in Orange County. Projects completed or in progress in Orange County by HomeAid include: 1) ' Thomas House.(Garden Grove) - refurbishing of an eight-unit complex for homeless families; 2) Interval House (central Orange County) - rehabilitation of an existing home for battered women and their children; 3) New Vista Shelter (Fullerton) - rebuilding of an apartment building for homeless families; 4) Don R. Roth Family Center (Orange) - construction of three new duplexes for homeless families; 5) Anchor House (San Clemente) - rehabilitation of a duplex for homeless families; 6) Anaheim Interfaith Shelter (Anaheim) - refurbishing and expansion of a single-family home for homeless families; 7) Huntington Youth Shelter (Huntington Beach) - refurbishing of a historic farmhouse and ' addition of 12 new bedrooms for a facility to house homeless and runaway teens; 8) Santa Ana YWCA Second Stage Housing (Santa Ana) - refurbishing of a four- unit apartment building for homeless women and their children; 9) Friendship ' Shelter (Laguna Beach) - refurbishing and enlarging of a detached home to provide shelter for homeless men and women; and 10) Precious Life Shelter (north Orange County) - expansion and rehabilitation of a home for unwed ' mothers and their newborn babies. Contact: Elisha Back (714) 396-9993. ' 21 ' Southern California Presbyterian Homes (SCPH): SCPH is an experienced non- profit housing developer based in Glendale. Utilizing a variety of federal, state and local funds, SCPH has developed the following six low-income independent ' living facilities in Southern California: 1) Casa de la Paloma (167 units), Glendale; 2) Sycamore Terrace (100 units), Upland; 3) Park Paseo (100 units), Glendale; 4) Royal Vista Terrace (75 units), Duarte; 5) Covenant Manor (100 ' units), Long Beach; and 6) Guadalupe Manor (71 units), Fountain Valley. SCPH is also constructing a 22-unit affordable senior housing project funded through the City of Glendale's tax credit programs. Target residents for this project are those with limited income but not qualified for rental assistance under HUD's very low income category. Contact: Benjamin Beckler (818) 247-0420. QUANTIFIED OBJECTIVES Units at Risk of Conversion Before July 1, 1994 A total of 198 units in Huntington Villa Yorba are eligible to convert to market rate housing during this time frame. ' Units at Risk of Conversion Between July 1, 1994 and July 1, 1999 ' A total of 462 units in seven assisted housing projects are at risk of converting to non-low-income use between July 1, 1994 and July 1, 1999. It is the objective of the City to either retain or replace as low-income housing ' all 660 units eligible to convert between July, 1989 and July 1, 1999. A comparison of current costs of preservation and current potential resources ' available indicates that preservation of the "at risk" units may be feasible. The City will continue to pursue new opportunities to replace low-income restricted units lost through conversion to market rate units. PROGRAMS FOR PRESERVATION The City plans to monitor "at risk" housing units to ensure units will continue as ' low income housing. The two at-risk HUD projects will most likely be preserved through incentives under LIHPRI-iA, and affordability controls on the five bond projects can most effectively be extended through bond refinancing. To the extent these approaches are not effectuated, the City will subsidize units and/or work with non-profit housing groups in the community to explore possible new construction of replacement housing by non-profits or non-profit acquisition of ' 22 ' existing buildings with "at risk" units The following are specific actions that the City will take to protect or replace at risk' units. ' Policies and Programs Policy 1: Attempt to preserve low-income housing in the City that is at risk of ' converting to market rate by monitoring the status of prepayment-eligible and bond-financed projects, and identifying financial and organizational resources available to preserve these units. ' Policy 2: Pursue a program that would offer small developers an opportunity to purchase "at-risk" units as a means of satisfying affordable housing requirements ' that may be conditioned on their projects. Monitor Units at Risk: Regularly monitor the status of the at-risk projects. ' Pursuant to Government Code Section 65863.10, the City will inform the tenants of the status of their projects at least one year in advance of the potential conversion date. ' Time Frame: .The earliest potential conversion dates for "at risk" projects in Huntington Beach are as follows. ' Project Project No. of Units Potential Name Addres At Ris Conversion Date ' Huntington Villa Yorba 16000 Villa Yorba 198 9/93 Seabridge Villas 20251 Cape Coral Lane 69 2/95 Harbor Gateway 4691 Warner Avenue 20 10/95 ' Rivermeadows 8945 Riverbend 31 10/95 Wycliffe Gardens 18765 Florida Avenue 185 3/96 Huntington Beach Gardens 16900 Algonquin 66 4/96 ' Huntington Village 16171 Springdale 23 11/96 Huntington Breakers 21270 Beach 68 7/99 Responsible Agency: Department of Community Development. Funding Source: Department Administrative Budget. ' Pursue Bond Refinancing: Seabridg e Villas, Harbor Gateway, Rivermeadows, Y Huntington Village, and Huntington Breakers are financed under the City's ' Mortgage Revenue Bond Program. The City will coordinate with the owners of at risk projects to encourage bond refinancing to extend low income use restrictions for a minimum of 15 years starting from the issuance of the initial ' bonds. Time Frame: Contact project owners at least 18 months prior to expiration to express City's desire to refinance. 23 rResponsible Agency: Department of Community Development. Funding Source: Department Administrative Budget, City Housing Funds. ' Work with Potential PriorityPurchasers: Establish contact with public and non- profit agencies interested in purchasing and/or managing units at risk to inform ' them of the status of at-risk projects. Where feasible, provide technical assistance to these organizations with respect to financing. Coordinate with the Orange County Affordable Housing Clearinghouse in assisting priority purchasers ' to obtain financing. Time Frame: Establish contact by end of 1992. Responsible Agency: 'Department of Community Development. ' Funding Source: Department Administrative Budget, City Housing Funds. . Facilitate Tenant Purchase of Units: Tenant purchase of at-risk units is a feasible preservation option when owners of Huntington Villa Yorba and Huntington Beach Gardens file Notices of Intent to indicate the desire to sell the projects or negotiation between the owners and HUD fail to preserve the two ' projects as low-income housing. The City will facilitate tenant purchase of the two projects by providing technical assistance in financing, organizing tenant associations as priority purchasers, coordinating with non-profit housing ' organizations, and encouraging tenant participation in the prepayment process. The City will begin working with the Orange County Affordable Housing Clearinghouse to establish a program to provide preferential financing, and ' potentially downpayment assistance, for low-income tenants wishing to purchase their units. ' Time Frame: Begin coordination with the Orange County Affordable Housing Clearinghouse by the end of 1992. Responsible Agency: Department of Community Development. FundingSource: HOPE and HOME rants, CDBG, Orange Count g g Y Affordable Housing Clearinghouse, Housing Authority ' Reserves. Tenant Education: The City will work with tenants of "at risk" units in danger of converting. The City will provide tenants with education regarding potential tenant purchase of buildings and act as a liaison between tenants and nonprofits potentially involved in constructing or acquiring replacement housing. The City will also provide tenants in "at risk" projects information regarding Section 8 rent subsidies through the Orange County Housing Authority. 1 24