050205 PH Five Hear Implementation Plan

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3. 9 C. No more than 15% of the Affordable Housing Funds can be used to provide rent subsidies for low and very-low income households; and d. Existing affordable units can be acquired as long as the covenants are extended by at least 15 years for rental units and 10 years for for -sale units. Units developed with the Bristol Corridor Project Area Affordable Housing Funds must be restricted in accordance with the RHNA proportionalities, as follows: b. C. At least 41 % of the units must be restricted to very-low income households, of which: At least 10% of the units in the project must be affordable to households earning 35% of the area median income At least 20% must be affordable Median or less; and / iii. Up to 11% of the units in earning 50% of thg 1ledj M least 251/c of is hp un is mt s Median or lest sm \ n Up to M Ian or Units develo ed� meet the City' hi type (senior / fa its best efforts to persons) housing be or less; earning 45% of the be'afforblable to households 60% of the earning 70% of the Area Affordable Housing Funds must also p size of units (number of bedrooms) and household the City's Housing Element. The Agency must use ely sized units to meet the large family (five or more South Harbor Boulevard Fairview Street Redevelopment Project Area (1984) 5 Sixty percent (60 %) of the property tax increment generated or related revenue or moneys repayable from property tax increment from the project area must be set aside for low and moderate income housing. 5 Gibson v. City of Santa Ana, etc, et al Santa Ana Community Redevelopment Agency Implementation Plan Keyser Marston Associates, Inc. For the Merged Santa Ana Redevelopment Project Area July 1, 2005 to June 30, 2010 Page 26 0504021. SA. KH H.JLR.gbd 19090.004.001/4t22/2005