80A - PH RFP AFFORDABLE HOUSING DEV

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EXHIBIT 1 Eligible Projects Funds can be used to increase and improve the supply of housing affordable to moderate, low, very low and extremely low-income households in the City. Eligible rehabilitation projects will: 1) be in need of rehabilitation as defined herein; 2) be located in the City of Santa Ana; 3) be free from significant adverse environmental impacts, except those that can be mitigated through rehabilitation; and 4) avoid permanent involuntary tenant displacement to the greatest degree feasible in order to carry out the project. Eligible projects which involve new construction or conversion of an existing non-residential use will conform to items (2), (3), and (4) above. Eligible Uses and Activities Funds can be used to make loans to eligible borrowers to provide affordable housing, for low- and very low- income households, including, but not limited to, the following: • acquisition and rehabilitation of eligible rental properties; • acquisition and conversion of non-residential property to multifamily rental housing units; • new construction of rental housing units; and, • predevelopment loans up to a period of 24 months for site acquisition, predevelopment activities, including professional services, which cannot be obtained on a contingency basis, and construction. Such loans may be extended for up to 18 months with an additional 12-month extension option at the discretion of the Housing Division Manager. For more information, please see Santa Ana Municipal Code Section 41-1900. IV. HOME INVESTMENT PARTNERSHIPS PROGRAM Source of Funds Funding for this Program is provided through the U.S. Department of Housing and Urban Development (HUD) HOME Program (including program income and residual receipts), and therefore is subject to the federal rules and regulations found in 24 CFR Part 92, as amended from time to time. Eligible Borrowers/Grantees Eligible borrowers are nonprofit Housing Development Corporations (HDC's) duly organized to promote and undertake community development activities on a not -for -profit basis, and which have a valid 501(c)(3) or (4) designation from the IRS, or for -profit housing developers or development corporations, with proven capacities to develop, own, and operate affordable housing. Limited partnerships whose general partners are otherwise eligible under the above are also eligible to borrow Program funds. Eligible Projects Projects eligible for HOME funding shall: 1) be rental projects located in the City of Santa Ana; 2) contribute to the achievement of the City's Strategic Plan and fair housing goals; 3) involve 4 or more apartments which will be rented to eligible lower income households at rents that do not exceed rents as defined by 24 CFR 92.252, as amended from time to time. Projects serving persons with special needs, or where the City Manager finds that the project will provide a substantial public benefit, may have fewer than four units. Transitional or permanent supportive housing may be provided (but not temporary shelters). City of Santa Ana Community Development Agency Request for Proposals for Affordable Housing Development Page 17 80A-21