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The HOME Agreement must require that at least the three HOME units be restricted as <br />affordable for at least 20 years. Therefore, the Project will meet the HOME requirement for <br />new construction projects. The affordability restrictions are detailed in the HOME Regulatory <br />Agreement that will be recorded on the property. <br />G. Property Standards (§92.251) <br />The Project will be subject to the following property standards: <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 />The Project will also meet the current edition of the Model Energy Code published by the <br />Council of American Building Officials. <br />H. HOME Rents / Utility Allowances <br />The tenants will not be responsible for paying utilities. The following provides the current <br />HOME rents as of July 2019 for Orange County as published by HUD: <br />The HOME Regulatory Agreement should require that three units are restricted as Low HOME <br />units <br />I. Financial Commitments <br />The Developer provided financial commitment documentation for the following sources: <br />1. An executed financing commitment letter from Union Bank dated June 6, 2018 to <br />provide up to a $23,000,000 construction loan and an estimated $9,790,000 permanent <br />City of Santa Ana Underwriting & Subsidy Layering Review: Veteran's Village Page 121 <br />25B-55 <br />