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<br /> <br />Affordable Housing Funds Policies and Procedures Page 3 <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />PURPOSE <br /> <br />On June 20, 2017, the City Council for the City of Santa Ana directed staff to develop a policy to <br />allocate affordable housing development funds and criteria for selection of projects. These <br />policies and procedures have been developed to guide how affordable housing funds and land <br />assets available to the City of Santa Ana are allocated, committed, loaned and monitored for <br />multi-family affordable housing development in the City. <br /> <br /> <br /> <br /> <br />INTENT <br /> <br />The intent of these policies and procedures is to provide a transparent, open and fair process for <br />developers, businesses, non-profit organizations, individuals and other entities interested in the <br />allocation of scarce affordable housing funds and land assets available to the City for affordable <br />housing development. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Exhibit 1