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75C - PH - ANNUAL ACTION PLAN
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06/18/2019
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75C - PH - ANNUAL ACTION PLAN
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6/13/2019 5:34:08 PM
Creation date
6/13/2019 5:30:26 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
75C
Date
6/18/2019
Destruction Year
2024
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Affordable Housing <br />AP-55 Affordable Housing — 91.220(g) <br />Introduction <br />As noted earlier, the most important impediment to providing affordable housing is due to limited <br />Federal and State resources for affordable housing initiatives. The lack of programs and resources to <br />reduce excessive rent or mortgage burdens to qualified persons is a key factor. <br />Another barrier to providing affordable housing in Santa Ana isgt_i6 iigh cost of housing created by a <br />demand for housing, both existing and new, which exceedsWlY,, uT?` 0 supply. Housing prices, both <br />v k <br />ownership and rental, remain high, especially for loweryt�c e house klts <br />In addition, the cost of site acquisition is very hig.h8�T1`development costs a also very high. These <br />factors make affordable housing construction exprt3 ire and put affordable hoti; og out of the reach of <br />low-income households. & �%- <br />The Housing Needs Assessment also id'ei <br />still remains, which also is outside the sc <br />Payment Assistance Program, applicants <br />for a down payment or p$?fl* �_.�.. i`,histoi <br />market. <br />in the mortgage origination process <br />V. In several instances for our Down <br />qf. �nances including lack of funds <br />ualify for a first loan in the private <br />In an effort to mitigate thes7lnrrier5anta Ana h02dertaken'the following actions among several <br />others <br />In 2015fifie City Council'r l ed anc! adopted an Ificld-ionary housing ordinance referred to as the <br />�sr a. o. <br />Housing iOppQltunity Ordinahee H00) t a applies to residential projects with a zone change that allow <br />residential defgp;ment where such uses we,not previously allowed, and include more than 5 units, <br />to provide eithe-F46%of all new u-i{ to be affordable to very -low income households or 15% of all new <br />units to be affords letb>low-incoriig households. The City's inclusionary housing ordinance has <br />generated over $13.8 rrli)kn sincetti3vuas adopted in 2011. <br />- The City utilizes HOME, CDBG`imd Inclusionary Housing Funds to fund the development, acquisition <br />and/or rehabilitation of affordable rental housing units. This public assistance will result in <br />restricted lower rents for assisted units that are affordable to low -Income and very low-income families. <br />- The City doubled the amount of Down Payment Assistance Funds available to low-income families to <br />purchase a home from $40,000 to $80,000 in order to make homeownership more accessible. <br />Annual Action Plan <br />2019 <br />37 <br />OMB Control No: 2506-0117(up. O6/30/2018) 75C-43 <br />
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