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¦ Rental income and lease income.
<br />¦ Repayments on existing residual receipts and individual loans.
<br />¦ Repayments of previous SERAF Payments from the Affordable Housing Fund.
<br />The projected revenue streams for the Affordable Housing Fund can be summarized as follows:
<br />Table 8: Projected Affordable Housing Fund Revenues (FY 2010/11- FY 2014/15)
<br />Set-Aside Deposits $13,573,000 $13,691,000 $13,835,000 $14,120,000 $14,411,000 $69,630,000
<br />Interest Income 500,000 500,000 500,000 500,000 500,000 2,500,000
<br />Rental/Lease Income 85,000 85,000 85,000 85,000 85,000 425,000
<br />Loan Repayments 633,000 633,000 633,000 633,000 633,000 3,165,000
<br />SERAF/ERF 1,500,000 1,634,000 1,634,000 1,634,000 1,634,000 8,036,000
<br />Repayments
<br />Total Revenues $16,291,000 $16,543,000 $16,687,000 $16,972,000 $17,263,000 $83,756,000
<br />USE OF AFFORDABLE HOUSING FUND DEPOSITS
<br />The Agency is projected to incur the following costs during the Implementation Plan period:
<br />Housing Rehabilitation
<br />The Agency anticipates expending $4.8 million on the Housing Rehabilitation Program during
<br />the Implementation Plan period.
<br />Land Purchase / Other / Relocation Costs
<br />The Agency has budgeted $6.5 million for land acquisition costs during the five-year period.
<br />Projects & Programs
<br />A total of $54.0 million is budgeted during the Implementation Plan period for various projects
<br />and programs.
<br />Administrative Expenses
<br />Costs such as salaries; overhead; consultant and legal fees; and supplies will be incurred to
<br />implement the Affordable Housing Program. The cash flow projection includes annual estimates
<br />through Fiscal Year 2014/15 which total to $14.7 million during the Implementation Plan
<br />period. The actual expenditures must be determined each year and may differ from this plan's
<br />projections.
<br />Debt Service
<br />The Agency obtained a HELP Loan from the California Housing Finance Agency. The remaining
<br />balance on this loan is $403,000 and the Agency expects to repay it in FY 2010-11. The Agency
<br />will continue to evaluate funding mechanisms, which may include issuing housing bonds.
<br />Santa Ana Community Redevelopment Agency Im i ? n July 1, 2010 to June 30, 2015
<br />For the Merged Santa Ana Redevelopment Project 68-4 Page 43
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