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Attachment B <br />Name of Program <br />Objective <br />Timeframe in KE <br />Status of Program Implementation <br />D. Periodically commission studies of the <br />33. Rent Stabilization and <br />effectiveness of the program, who it is <br />Dec. 2023 & Ongoing <br />No Update for CY 2024. <br />Just Cause Eviction <br />serving, and how well it is meeting its <br />objectives. <br />During CY 2024, the City continued to support low- and moderate -income households <br />through its My First Home program, providing down payment assistance loans of up to <br />$120,000 for low-income households and up to $80,000 for moderate -income <br />households. A total of 19 households received assistance, helping them achieve <br />A. Assist low-income households with down <br />homeownership and improve housing stability. This program continues to be a vital <br />payment assistance loans of up to <br />resource for residents in Santa Ana, making homeownership more accessible and <br />34. Down Payment <br />000 for low-income households and <br />Ongoing <br />affordable for those in need. In December 2024, the Community Development <br />Assistance <br />up to 80 <br />up to $80,000 for moderate -income <br />Commission also approved the conversion of nine existing rental units into affordable <br />households. <br />ownership condominiums at 425 E. Wellington Ave. with up to $920,000 in Inclusionary <br />Housing Funds. The 425 E. Wellington Ave. project will convert an existing nine -unit <br />apartment building into affordable condominiums, which will be made available for <br />homeownership to low and moderate -income households earning less than 120% of <br />the AM I. <br />B. Periodically review the down payment <br />In CY 2024, the City did not make any updates to the down payment assistance <br />34. Down Payment <br />assistance program to increase or adjust <br />the amount of assistance needed per <br />Ongoing <br />program. However, the City remains committed to periodically reviewing the program <br />Assistance <br />household to purchase their first home <br />and will continue to make improvements or adjustments to the assistance amounts as <br />based on the private market. <br />needed, based on changes in the private housing market. <br />In CY 2024, the City hosted 45 workshops throughout the year to educate residents on <br />C. Hold quarterly workshops for local <br />budgeting, credit, lending, and other homeownership topics. These workshops, held <br />lenders and mortgage brokers to provide <br />nearly weekly at locations like the Salgado Community Center and Delhi Center, invited <br />34. Down Payment <br />outreach and education on utilizing the <br />Once Every Quarter of a <br />local lenders and mortgage brokers, who consistently attended to provide guidance on <br />Assistance <br />City's program in conjunction with a first <br />Year <br />using the City's program with a first mortgage. Additionally, staff participated in <br />mortgage. Workshops will start in August <br />community events like NeighborWorks OC's Homebuyer Fairs and the OCCHC <br />2022 and continue quarterly. <br />Homebuyer Fair, broadening outreach and supporting residents on their path to <br />homeownership. <br />