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Eligible Uses and Activities <br />Funds can be used to make loans to eligible borrowers to provide affordable housing, for low- and very low- <br />income households, including, but not limited to, the following: <br />• acquisition and rehabilitation of eligible rental properties; <br />• acquisition and conversion of non-residential property to multifamily rental housing units; <br />• new construction of rental housing units; and, <br />• predevelopment loans up to a period of 24 months for site acquisition, predevelopment activities, <br />including professional services which cannot be obtained on a contingency basis, and construction. Such <br />loans may be extended for up to 18 months with an additional 12 month extension option at the discretion <br />of the Housing Division Manager. <br />For more information, please see Santa Ana Municipal Code Sectiqn'4171900. <br />V. HOME INVESTMENT PARTNERSHIPS PROGRAM <br />Source of Funds <br />Funding for this Program is provided through the U.S.,Department of HoUs ' ing and Urban Development (HUD) <br />HOME Program (including program income and residual. receipts), and ther"efoha is subject to the federal rules <br />and regulations found in 24 CFR Part 92, as amend�d from time to time. <br />Eligible Borrowers/Grantees <br />Eligible borrowers are nonprofit Housing Development Corporaiions, <br />- (HDC's) duly organized to promote and <br />undertake community development activiti6s on�a'not-for­profit -basis, and which have a valid 501 (c)(3) or (4) <br />designation from the IRS, or for -profit housin%g de�elo ' rs or dev'lo ' <br />,pe e pm.ent corporations, with proven capacities <br />to develop, own, and operate affordable housNing:% Limited partnerships whose general partners are otherwise <br />eligible under the above are also eligible to borr6w'Progra'm funds. <br />Eligible Prowects <br />Projects eligible for HOME fOnding shall: <br />1) be rental projects lobated in the City of Santa.Ana; <br />2) contribute to -the achievement of,the Citys Strategic Plan and fair housing goals; <br />3) involve 4 or more'apartmentsJvhich will be rented, to eligible lower income households at rents that <br />do hot exceed nints'as defiined'by 24 CFR 92.252, as amended from time to time. Projects serving <br />persons with special needs, orWhere the City'Manager finds that the project will provide a substantial <br />public,benefit, may havefewer than four units. Transitional or permanent supportive housing may be <br />provided (but not temporary shelter§) : ' <br />4) have at least 20% of the HOME-assi�ited units rented to very low-income families (50% of median <br />income) under the,, terms an� conditions set forth in 24 CFR 92.252 (2)(b); <br />5) demonstrate finan6ial feasibility -- including the ability to maintain rents for the subsidized units at <br />affordable levels for.the p6riod� specified in 24 CFR 92.252; <br />6) be free of significant adverse environmental impacts, except those that can be mitigated through the <br />project itself; <br />7) minimize tenant displacement; <br />8) comply with all local building and zoning codes and standards, including energy efficiency and water <br />conservation standards, and meet housing quality standards in Section 882.109 of Title 24. Newly <br />constructed housing must meet the current edition Model Energy Code of the Council of American <br />Building Officials; <br />9) make efficient use of public funds and avoid "layering" of subsidies beyond those necessary to <br />achieve a financially feasible project; and, <br />10) have at least 51 % of the project space be residential, if in a mixed use project. <br />City of Santa Ana Community Development Agency <br />Request for Proposals for Affordable Housing Development <br />P 17 <br />19 -21 <br />