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standards by lenders have also eliminated many buyers with low income and marginal credit <br />from obtaining a home purchase loan. Average rents have also increased in the past year. In <br />July 2014, the average monthly rent for an apartment in Orange County was $1,312. The <br />County of Orange estimates that an individual earning minimum wage will have to work 126 <br />hours /week to afford rent for a modest 1- bedroom apartment.$ Upward trending housing costs <br />continue to pressure the City to identify resources to expand affordable rental and <br />homeownership opportunities, especially for lower income households. <br />• Increases in transportation and material costs have reduced the effective amount of money the <br />City has to fund activities. The cost of raw materials and more recently the transport materials <br />have had significant impact on the cost of public facilities construction projects and housing <br />rehabilitation. <br />• Municipalities throughout California continue to deal with budget deficits that have forced <br />reductions in personnel and furloughs as a means to close budget shortfalls. City staff that <br />manage HUD funds have not been immune to these budget pressures. State; legislation that <br />eliminated redevelopment funding has created a'significant barrier to carryout the goals and <br />programs delineated in the Consolidated Plan. <br />5. What adiustments or improvements to strategies and activities might meet community needs <br />more effectively? <br />No adjustments or improvements to the City's current strategies are anticipated at this time. <br />8 2014Community Indicators, Orange County, May 2014. <br />32 DRAFT 2013 -2014 CAPER <br />ig t41 <br />