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Preservation of Affordable Units <br />There are several affordable housing complexes with expiring affordable housing covenants in <br />Santa Ana that the Agency will consider assisting in order to preserve affordable housing. <br />The following summarizes the total affordable housing development projected by the Agency <br />for the period between FY 2011 and FY 2015. <br />Table 3: Projected Affordable Housing Development (FY 2010/11- FY 2014/15) <br />Station District 75 2011 <br />1410 Durant 14 2010 <br />Vista Del Rio 41 2011 <br />Infill Development -Rental 20 2011 <br />Infill Development Site - For-Sale 20 2011 <br />Other Rental Projects 60 2013 <br />Total Affordable Units 230 <br />REDEVELOPMENT EXPENDITURES <br />BACKGROUND <br />The Agency has the legal authority and flexibility to implement the revitalization of the Merged <br />Project Area utilizing any or all of the following revenue sources: (1) city; (2) state; (3) federal <br />government; (4) tax increment funds in accordance with provisions of the existing CRL; (5) new <br />tax allocation bonds; (6) interest income; (7) loans from private financial institutions; (8) lease <br />or sale of Agency-owned property; (9) donations; (10) developer payments, and (11) any other <br />legally available public or private sources. <br />Current provisions of the CRL provide authority to the Agency to create indebtedness, issue <br />bonds, borrow funds or obtain advances in implementing and carrying out the specific intents <br />of a redevelopment plan. The Agency is authorized to fund the principal and interest on the <br />indebtedness, bond issues, borrowed funds or advances from tax increment revenue and any <br />other funds available to the Agency. To the extent that it is able to do so, the City may also <br />supply additional assistance through City loans or grants for various public facilities or other <br />project costs. <br />The redevelopment programs described previously in this section outline a set of activities to <br />be implemented by the Agency for the purpose of facilitating private reinvestment in the <br />Merged Project Area, eliminating physical and economic blighting influences. For purposes of <br />this analysis, Affordable Housing Fund revenues and their related expenditures are presented in <br />the Housing Component section. <br />Santa Ana Community Redevelopment Age 009-'c3t n <br />Forthe Merged Santa Ana Redevelopment July 1, 2010 to June 30, 2015 <br /> <br />Page 31