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D. APPLICABLE DEPOSIT AND EXPENDITURE PROVISIONS <br />Set -Aside of Gross Property Tax Increment <br />The Merged Project Area is subject to the Section 33334.2 requirement to allocate 20% of the <br />gross property tax increment to affordable housing activities. However, the five settlement <br />agreements mentioned previously in this report impose additional restrictions on the use of the <br />Set -Aside funds generated within the effected Project Areas. <br />This Implementation Plan includes projections of the deposits that will be required to be made <br />into the Affordable Housing Fund. In addition, the following sections of the Plan discuss how <br />these funds will be spent over time. <br />Proportional Expenditures of Affordable Housing <br />The Merged Project Area is subject to the Section 3 3 e 're nt that the Agency expend <br />Affordable Housing Fund monies in accordance ith an ' come p po Tonality test and an age <br />restriction proportionality test. These prop Iona to is t be t b tween January 1, <br />2002 and June 30, 2015, and then agai In 1 ear ' e perio thro h t termination of the <br />Merged Project Area. The results of the op rti alit test are presen In Table H -9, and <br />described in the following secti s o e I le nt 'on la <br />Very-Low and Low Inc e usl x e dit as <br />The income prop rtion ' tes e uir e A y expend Set -Aside funds in proportion to <br />the unmet housing ee th he a ee id tifi for the community pursuant to Section <br />65584 of the Govern nt od . e rop rtionality test used in this Implementation Plan is <br />based on the 2000 RH pr red y G. Based on the 2000 RHNA, the Agency's <br />minimum required allocat for ve -low and low income expenditures, and maximum allocation <br />to moderate income housing x nditures are: <br />Category <br />Threshold <br />Very-Low Income: <br />At least 41% <br />Low Income: <br />At least 25% <br />Moderate Income: <br />No more than 34% <br />To comply with the Section 33334.4 requirements, the Agency must spend at least 41 % of the <br />Affordable Housing Fund monies on projects and programs dedicated to very-low income <br />households. In addition, at least 25% of these funds must be spent on housing for low income <br />households, and no more than 34% of the funds can be spent on moderate income households. <br />Santa Ana Community Redevelopment Agency Implementation Plan Keyser Marston Associates, Inc. <br />For the Merged Santa Ana Redevelopment Project Area July 1, 2005 to June 30, 2010 <br />Page 34 <br />0504021. SA. KHH.J LR.gbd <br />19090.004.00114/22/2005 <br />