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Affordable Housing Program <br />The Agency's Affordable Housing Program includes the following components: <br />Multi family Acquisition Rehabilitation <br />In partnership with various non-profit and for-profit developers, the Agency anticipates <br />continuing an acquisition and rehabilitation program for multi-family properties. The selected <br />developers will be responsible for the rehabilitation and ongoing management of these <br />projects, and the projects will be subject to income and affordability covenants that will remain <br />in place for a minimum of 55 years. The Agency will provide assistance to the projects to fill the <br />gap created by the covenants. <br />Neighborhood Stabilization Program (NSP 1 & 2) <br />This program stabilizes transitional neighborhoods through the improvement of existing <br />residential structures and preservation of existing stock. The Program provides assistance to <br />low and moderate income households throughout Santa Ana and also eliminates blighting <br />conditions in targeted neighborhoods by increasing on-site management, reducing <br />overcrowding and rehabilitating rental housing units. The following map reflects both NSP 1 <br />and NSP 2 geographical target areas. <br />This program will utilize Federal funds to acquire and redevelop foreclosed residential <br />properties that might otherwise become sources of blight within their communities. The single- <br />Santa Ana Community Redevelopment Agency Imp i July 1, 2010 to June 30, 2015 <br />For the Merged Santa Ana Redevelopment Project b'84? page 29