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The HOME Agreement requires the 11 HOME units to be restricted as affordable for 20 years. <br />Therefore, the Project will meet the HOME requirement for new construction projects. The <br />affordability restrictions are detailed in the HOME Loan Agreement that will be recorded on the <br />property. <br />G. Property Standards (§92.251) <br />The Project will be subject to the following property standards: <br />H. HOME Rents / Utility Allowances <br />The tenants will be responsible for paying utilities. The following provides the current HOME <br />rents as of July 2018 for Orange County as published by HUD less the estimated utility <br />allowances: <br />The HOME Regulatory Agreement requires that seven units are restricted as Low HOME units <br />I. Financial Commitments <br />The Developer provided financial commitment documentation for the following sources: <br />1. An executed Loan Purchase Agreement from CCRC dated July 21, 2017 to provide a <br />$21,260,574 construction loan and an estimated $3,043,100 permanent loan. <br />City of Santa Ana HOME Subsidy Layering Review: Santa Ana Arts Collective Page 121 <br />25J-43 <br />Included in <br />HOME <br />PropertyAgreement <br />State and local codes, ordinances and zoning <br />requirements <br />Accessibility: <br />■ Accessibility requirements of 24 CFR part 8 <br />• Design and construction requirements at 24 <br />CFR 100.205 <br />Disaster Mitigation <br />Not Applicable <br />Written cost estimates, construction contracts and <br />construction documents <br />Construction progress inspections <br />H. HOME Rents / Utility Allowances <br />The tenants will be responsible for paying utilities. The following provides the current HOME <br />rents as of July 2018 for Orange County as published by HUD less the estimated utility <br />allowances: <br />The HOME Regulatory Agreement requires that seven units are restricted as Low HOME units <br />I. Financial Commitments <br />The Developer provided financial commitment documentation for the following sources: <br />1. An executed Loan Purchase Agreement from CCRC dated July 21, 2017 to provide a <br />$21,260,574 construction loan and an estimated $3,043,100 permanent loan. <br />City of Santa Ana HOME Subsidy Layering Review: Santa Ana Arts Collective Page 121 <br />25J-43 <br />