80B - JOINT - FIVE-YR IMPLEMENTATION PLAN

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Fair Housing Act - Title VI II of the Civil Rights Act of 968, as amended by the Fair Housing Amendments Act of 1988. Fair Market Rents (FMR) - Estimates of the rent plus utilities that would be required to rent privately owned, decent, safe, and sanitary rental housing of a modest nature with suitable amenities. Fair Market Value - The price that would be paid for property offered on the open market for a reasonable period of time with both buyer and seller knowing all the uses to which the property could be put, and with neither party under pressure to buy or sell. Family- All persons living in the same household who are related by birth, marriage, or adoption. FAR (Floor Area Ratio) - The ratio of square feet of floor space to the square feet of the site on which a building is located. FHA - Federal Housing Administration. A division of the U.S. Department of Housing and Urban Development; main activity is insuring residential mortgage loans made by approved lenders to qualified borrowers in accordance with its regulations. First-Time Homebuyer- Under federal law, an individual or family who has not owned a home during the three- year period preceding the publicly assisted purchase of a home. FNMA - Federal National Mortgage Association, popularly known as "Fannie Mae"; a federally chartered corporation whose primary function is to buy and sell FHA and VA mortgages in the secondary market. Foreclosure - An authorized procedure taken by a mortgagee or lender, under the terms of a mortgage or deed of trust for the purpose of applying the property toward the payment of a defaulted debt. Gap Financing-As used in the Consolidated Plan, gap financing represents the amount of public subsidy required to make a project financially feasible. General Plan - An adopted statement of policy for the physical development of a community, required by State law. GNMA - Government National Mortgage Association (Ginnie Mae); created in 1968 to take over special assistance and liquidation functions of FNMA. Participates in the secondary market through its mortgage-backed securities pools. Grantee - Person or legal entity to which a grant is awarded and that is accountable for the use of the funds available. Group Quarters - A facility housing groups of persons not living in households (U.S. Census definition). Examples of group quarters include prisons, dormitories, shelters, and military quarters. HCD - California Department Housing and Community Development. Provides housing and planning information and guidance, State bond funds, low-interest loans and grants for housing development and rehabilitation. Oversees the Housing Element review process to ensure that Housing Elements are in compliance with State law. "a Ana Community Redevelopment Agency Implementation Plan 2010 to June 30, 2015 ire Merged Santa Ana Redevelopment Project Area .r. Appendix B -- 5 80B-67