Laserfiche WebLink
Definitions and Descriptions <br />Definitions <br />Term Definition <br />Blighted Structure In accordance with Section 33031 of the California Redevelopment Law, the <br /> City of Santa Ana will define blighted structures in the following way: <br /> "Buildings in which it is unsafe or unhealthy for persons to live or work. <br /> These conditions may be caused by serious building code violations, serious <br /> dilapidation and deterioration caused by long-term neglect, construction <br /> that is vulnerable to serious damage from seismic or geologic hazards, and <br /> faulty or inadequate water or sewer utilities." <br />Affordable Rents The City of Santa Ana will define affordable rents in a manner consistent <br /> with the requirements of the federal HOME Program for very low income <br /> rents: <br /> "A rent that does not exceed 30 percent of the adjusted monthly income of a <br /> family whose annual income equals 50 percent of the median income for the <br /> area as determined by the U.S. Department of Housing and Urban <br /> Development, with adjustments for household size and numbers of <br /> bedrooms in the unit." <br />Descriptions <br />Term Definition <br />Long-Term Affordability In order to ensure continued affordability to the maximum extent <br /> 'practicable and for the longest fesible term for the for-sale and rental <br /> propertiesit assists with NSP3 monies, the City will record affordability <br /> covenants that will run fbr'a period of45'years for owner-occupied <br /> properties and 55 years for rental properties. In addition, the City will obtain <br /> promissory notes and record trust deeds to secure the NSP3 funds it invests <br /> in these for sale properties. These documents will have a 45 year term, and <br /> will require, payment in full if the owner fails to comply with the terms of the <br /> covenants. <br />Housing Rehabilitation <br />Standards The City of Santa Ana has modified its existing NSP rehabilitation standards <br /> so as to meet the new requirements established for NSP3. These newly <br /> revised standards are attached to this Substantial Amendment as <br /> Attachment 2. <br />Low-Income Targeting <br />Low-Income Set-Aside Amount <br />Identify the estimated amount of funds appropriated or otherwise made available under the NSP3 to <br />be used to provide housing for individuals or families whose incomes do not exceed 50 percent of <br />area median income. <br />Response: <br />Total low-income set-aside percentage (must be no less than 25 percent): 58.54% <br />NSP3 Substantial Amendment Page 2 <br />City of Santa Ana