Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
Construction Costs - Broadly, all costs incurred in bringing a building to completion, not including land acquisition, <br />financing or sales costs. <br />Construction Loan - A short-term interim loan for financing the cost of construction. The lender makes payments <br />to the builder at periodic intervals as the work progresses. <br />Cost Burden - The extent to which housing costs, including utilities, exceed 30% of gross income, based on data <br />published by the U.S. Census Bureau. <br />Deed Restriction - A limitation placed in a deed limiting or restricting the use of the real property. <br />Deferred Loan - A loan whereby payment of part or all of the loan is deferred until a later time as specified in the <br />loan. <br />Density Bonus - A provision to permit a residential developer to construct more dwellings on a site than would <br />normally be allowed, provided the developer includes certain amenities or public benefits. <br />Disabled Household - Households in which at least one of the residents is an adult with a disability. A person is <br />considered to have a disability if s/he has a physical, mental, or emotional impairment that (1) is expected to be of <br />indefinite duration, (2) substantially impedes his or her ability to live independently, and (3) is of such nature that <br />the ability could be improved by more suitable housing conditions (federal definition). <br />Economic Development -A general term indicating projects to stabilize and enhance an area's economy and to <br />create or maintain jobs. <br />Elderly Person - There is no universally accepted definition, but an individual must be at least 62 years of age to <br />qualify as elderly. <br />Emergency Shelter - A building in which emergency temporary lodging is provided, with or without meals, to <br />families and individuals who are homeless, where on-site supervision is generally provided whenever such shelter <br />is occupied. <br />Eminent Domain -Authority of a government agency to acquire property for public purposes, with payment of <br />just compensation. In the case of redevelopment agencies, public purposes include the elimination of blight. <br />Often referred to as condemnation. <br />Equity - The interest or value which an owner has in real estate over and above the current indebtedness; <br />sometimes referred to as the owner's interest. <br />Equity Sharing - The generic term for various forms of home financing in which a homeowner shares his property <br />appreciation with another party. Public agencies offering first time homebuyer programs often require that they <br />receive an equity share from homebuyers who sell their homes before the required period of affordability has <br />ended. <br />Extremely Low-Income Household - A household earning between 0% and 30% of the area median income. <br />Santa Ana Community Redevelopment Agency Irr ?ntation Plan July 1, 2010 to June 30, 2015 <br />For the Merged Santa Ana Redevelopment Proji Appendix B - 4 <br />8OB-66