ILLUMINATION FOUNDATION (27) - Laserfiche WebLink

Home Browse Search

City of Santa Ana 20-PLHA-15193, Am. 1 (Rev. 08/2021) Page 3 of 5 EXHIBIT A 8) Efforts to acquire and rehabilitate foreclosed or vacant homes and apartments. 9) Homeownership opportunities, including, but not limited to, down payment assistance. 10) Fiscal incentives made by a county to a city within the county to incentivize approval of one or more Affordable housing Projects, or matching funds invested by a county in an Affordable housing development Project in a city within the county, provided that the city has made an equal or greater investment in the project. The county fiscal Incentives shall be in the form of a grant or low -interest loan to an Affordable housing Project. Matching funds investments by both the county and the city also shall be a grant or low interest deferred loan to the Affordable housing Project. B. A Local government that receives an allocation shall use no more than five percent of the allocation for costs related to the administration of the Activity(ies) for which the allocation was made, Staff and overhead costs directly related to carrying out the eligible activities described in Section 301 are "activity costs" and not subject to the cap on "administrative costs." A Local government may share any funds available for administrative costs with entities that are administering its allocation. C. Two or more local governments that receive PLHA allocations may expend those moneys on an eligible jointly funded project as provided in Section 50470 (b)(2)(B)(ii)(IV). An eligible jointly funded project must be an eligible Activity pursuant to Section 301 (a) and be located within the boundaries of one of the Local governments. D. Entitlement Local governments may use the flow of PLHA funds to incentivize private lender loans and to guarantee payments for some or all public agency bond financings for activities consistent with the uses identified in Section 301 "Eligible Activities". This loan guarantee Activity must be identified and fully explained in the Applicant's "Plan". Permanent Local Housing Allocation (PLHA) Program — Grant NOFA Date: (RD 1) 02/26/2020, (RD 2) 05/03/2021 Approved Date: 10/05/2020 Prep, Date: 08/16/2021