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HOUSING PLAN <br />INCENTIVES <br />25. Affordable Housing Financial Incentives <br />The City actively incentivizes the provision of quality, affordable housing. These <br />may include land assembly and writedowns, direct financial assistance with <br />HOME and set -aside funds, issuance of tax - exempt bonds, and technical <br />assistance. The amount of financial assistance depends on the availability of local, <br />state, and federal funds. The City also adopted an ordinance that defers payment <br />of development fees to just before final occupancy. The City of Santa Ana will <br />continue these incentives and facilitate their application to each planning area as <br />appropriate; in some areas, a development incentive may be more appropriate <br />and, in other areas, direct financial assistance may be more appropriate. <br />26. Extremely Low Income Housing <br />Housing Element law has been recently expanded to include a focus on the <br />housing needs of extremely low income households. According to 2012 Southern <br />California Association of Governments Existing Housing Needs Data Report <br />(using 2005 -2009 ACS), the City has 11,370 extremely low income the majority of <br />which are renter households. The Housing Authority issues 2,699 housing choice <br />vouchers to low income households each year. Of all housing choice vouchers, <br />75% of them will be extremely low income households. The City of Santa Ana <br />will continue to seek opportunities to support grant applications, work with <br />nonprofits, and provide other incentives as feasible to support the production of <br />affordable housing for extremely low income households. <br />27. Successor Housing Agency <br />Historically, the Santa Ana Redevelopment Agency (RDA) has played a key role <br />in facilitating and encouraging the production, rehabilitation, and preservation of <br />housing. Santa Ana also allocated tax increment funds generated from <br />redevelopment project areas to increase, preserve, and improve the supply of low <br />and moderate income housing as well as support housing, economic, and <br />community development activities. With the demise of redevelopment agencies <br />across California and reallocation of funds to the State of California, the City no <br />longer has an RDA. A successor agency, the Santa Ana Housing Authority, is <br />responsible for completing all remaining enforceable obligations. The City is <br />seeking to retain a portion of its tax increment funds, including Boomerang and <br />Supplemental Educational Revenue Augmentation Funds (SERAF), to allow the <br />completion and administration of enforceable obligations over the long term. <br />28. Density Bonus Ordinance Update <br />The City's density bonus ordinance, Section 41 -1600, incorporates state density <br />bonus law. The City will revise its density bonus ordinance to reflect recent <br />changes in state law. In summary, applicants of multiple- family residential and <br />mixed -use projects of five or more units will be entitled to a density bonus under <br />one of four conditions: 1) at least 5% are very low income units, 2) at least 10% <br />J�A are lower income units, 3) at least 10% are moderate income for -sale units, and /or <br />60 CITY OF SANTA ANA GENERAL PLAN HOUSING ELEMENT <br />