090704 Jt PH Adotpion Amend Merger SA Redvlp Proj Areas EXHIBIT 2

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4. Number and Location of Low and Moderate Income Housing Units Planned Other than Replacement Housing The proposed Amendments will not alter the housing projections contained within the current Implementation Plan (Appendix A). The Agency plans to assist in the construction, rehabilitation and preservation of low and moderate income housing in the proposed Merged Project Area under its housing programs. These housing programs are described in the current Implementation Plan for the Project Areas. The current Implementation Plan estimated that 554 housing units will be developed in the proposed Merged Project Area between 2003 and 2009 with approximately 50 units made affordable to low and moderate income families and persons, and 34 housing units for very low- income families or persons. 5. Financing Method for Replacement Housing Requirements Although the primary purpose of the proposed Amendments is to merge the financial provisions of the Project Area, the financing methods for replacement housing will not change. The Agency will employ, as necessary, the method outlined in this Report to meet replacement housing requirements and other obligations under the Community Redevelopment Law. As discussed in this Report, not less than 20 percent of all taxes which may be allocated to the Agency pursuant to Section 33670 of Article 4 of the CRL shall be used by the Agency for purposes of increasing, improving, preserving the supply of low and moderate income housing available at affordable housing cost to persons and families of low or moderate income and very low income households. This source of funding is expected to be utilized for replacement housing should the Agency be required to create such housing. 6. Timetable for Provision of Relocation Housing If replacement housing is to be provided pursuant to Section 33413 of the CRL, the Agency shall take necessary steps to cause the construction, rehabilitation or development of such housing in accordance with the time limits prescribed by law. The relocation plan(s) prepared by the Agency for a particular development activity shall contain schedules to insure comparable replacement housing is available in accordance with the requirements of the CRL and the State Relocation Guidelines. C. OTHER MATTERS AFFECTING THE PHYSICAL AND SOCIAL QUALITY OF THE ENVIRONMENT Implementation of the proposed Amendments is necessary to continue implementing the Agency's redevelopment program. By assisting in the implementation of the Agency's activities, the Amendments will provide the Agency the flexibility to help to alleviate blight and will encourage economic growth and development within the proposed Merged Report to the City Council for the Merger of the Page 64 of 190 Santa Ana Redevelopment Projects PA0403012.8NTA:CK:gbd 19090.003.004106 /20/04 Keyser Marston Associates, Inc. Page 53 Vry