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SAHA is a non-profit housing developer with an established track record and was selected by Sunflower Hill as its development partner. City staff has been actively working with SAHA for this affordable project. Policy 18: Use the lower -income -housing fee to generate funds for the provision of housing affordable to extremely low-, low- and very low-income households. The low-income housing funds should be used primarily to leverage State and Federal funds in the development of affordable housing to low- and very low-income households and in-house loan programs, so that the fund may be used most efficiently and maintained over time. When considering allocation of these funds, priority will be given to non-profit housing developers with a project including three bedroom units affordable to large extremely low-, low- and very -low income households. Like Program 9.1, the $2,250,000 in City LIHF will be leveraged by SAHA to obtain a larger amount of County, State and Federal funding assistance. While the project has one and two-bedroom units and is not targeted to serve large households, it does address the special needs households of persons with disabilities. Program 18.3 Use the Lower -Income Housing Fund to help build housing affordable to low - and very low-income households on City -owned land. The 1.64 acre parcel being dedicated to the City, to be ground leased to SAHA for this project, plus the $2,250,000 in City LIHF, support the project development for the targeted income ranges. Program 18.4: Use the Lower -Income Housing Fund to extend rent restrictions agreement, purchase land, write down mortgage costs, rehabilitate units, subsidize rents, issue tax- exempt bonds, post loan collateral, pay pre -development costs, and otherwise help produce housing units affordable to lower-income households. The objective of this is to utilize the Lower Income Housing Funds in a manner consistent with City ordinance and to support affordable housing, particularly developments proposed by non-profit developers that include units for large families at very low incomes. The ENRA provides for pre -development costs, which will be rolled into a total $2,250,000 project loan of LIHF to produce affordable housing units. Again, while not for large families, the project will serve special needs persons. Program 18.5: When considering how to utilize the City's Lower -Income Housing Fund, consider whether a proposal with a non-profit housing developer and a for-profit housing developer partnership should be a higher priority due to its ability to potentially secure better funding and be developed. SAHA is submitting for tax credit financing in February 2018, and the City's LIHF commitments are critical for SAHA's application for this Sunflower Hill project. Policy 20: Require owners of rental units who receive financial assistance from the City to accept Section 8 certificates / vouchers and/or Project Based Section 8 in their developments. PUD -129, Sunflower Hill Housing Commission 7 of 9