Laserfiche WebLink
E. AFFORDABLE HOUSING GOALS AND OBJECTIVES OF THE IMPLEMENTATION <br />PLAN <br />The CRL requires that certain housing requirements be fulfilled during five- and 10 -year <br />increments; and over the remaining Merged Project Area life. Specifically, the inciusionary <br />housing production requirement must be met every ten years, and over the life of the Merged <br />Project Area. Comparatively, the proportionality tests must be achieved between January 1, <br />2002 and June 30, 2015, and then again in 10 -year increments throughout the Merged Project <br />Area life. <br />The Agency's primary goal is to comply with the affordable housing requirements imposed by <br />the CRL in a responsible manner. The affordable housing activi ' identified in the <br />Implementation Plan will be undertaken over the duration of a Re velopment Plan for the <br />Merged Project Area, and will explicitly assist in accom I' hing th ntent of the CRL in regards <br />to the provision of low and moderate income housil� ^ <br />Affordable Housing Fund Resources anfthe <br />This section of the Affordable Housing Co p ne dis ss the Agenc ' affordable housing <br />activities planned for the Imple enta n P n lo , n thr ghout the remaining Merged <br />Project Area life. Table H- prof s th A rd b Ho 1 F d deposits and expenditures <br />anticipated to occur du 'n e ch ar f t e I lement tion n period, and through the <br />remaining term of e Merg olect Ar <br />Table H -10 presents th estl 1 ed egihKiing balance in the Affordable Housing Fund, and the <br />projected future deposits i o the F d. The projected deposits are based on a property tax <br />increment projection prepare b MA. <br />The Affordable Housing Fund revenues include the following: <br />The amount of gross property tax increment required by the CRL and the five settlement <br />agreements will be deposited into the Affordable Housing Fund. <br />2. On an ongoing basis, the Agency receives revenues from land sales and residual <br />receipts loans that have been provided to affordable housing projects in the past. These <br />revenues are deposited into the Affordable Housing Fund. <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 36 <br />0504021.SA.KHH.JLR.gbd <br />19090.004,00114/2212005 <br />