050205 PH Five Hear Implementation Plan

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as the units removed from inventory. Also, replacement units can be developed anywhere within the City limits. Article 16.5 requires that if an Implementation Plan contains projects that could result in the removal of low and moderate income housing units, the plan must identify locations suitable for the replacement of such housing. The following summarizes other pertinent replacement housing requirements: 1. Affordability: a. For units that were removed between 1994 and December 31, 2001, 75 % of the replacement units must be affordable to the same income level as the displaced households. b. For units that are removed after January 1, 20 �the % of the replacement units must be affordable to the same income ley aplaced h ouseholds. 2. Long -term affordability covenants must a. All replacement housing households at the afforc run with the land. Thest land on which t,46y are b. The by to an moderate income Cant to recorzV covenants that remain affoKdable even if the ye Merged Project Area. with the foilgbvlhg requirements: i. \ PO 2, th ove n s o replacement housing units were required t be po e for h onge feasible time, but for not less than the land use on ols m ose by a Redevelopment Plan. ii. As f JVuary 1, 2002, rental units must have covenant terms for not less than S,5 ye o' while ownership units must have covenants for not less than 45Vears. 3. The law permits limited flexibility to agencies to remove the covenants from replacement units if the following conditions are met: a. Substitute units must be made available for occupancy prior to the removal of the covenants on the original replacement units(s); and b. The substitute units cannot be assisted with Set -Aside funds. 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 29 0504021. SA.KH H.J LR.gbd 19090.004.001/4 /2212005