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SP-25 Priority Needs - 91.215(a)(2) <br />Priority Needs <br />1 <br />Priority Need <br />Expand the supply of affordable housing <br />Name <br />Priority Level <br />High <br />Population <br />Extremely Low <br />Low <br />Moderate <br />Geographic <br />Citywide <br />Areas <br />Affected <br />Associated <br />Affordable Housing Development and Preservation <br />Goals <br />Description <br />Throughout the City of Santa Ana, rental and homeownership costs continue to <br />rise, creating increased pressure on low- and moderate -income residents to be <br />able to afford safe and suitable housing. As noted in the needs assessment, 66% <br />of all households earning less than 80%experience housing cost burden (paying <br />more than 30% of income for housing costs). As housing costs will continue to <br />rise, the rate of cost burden will continue to increase and more low- and <br />moderate -income households will no longer be able to afford to live in Santa <br />Ana. One element of this problem is a limited supply of affordable housing within <br />Santa Ana. The City will prioritize using HUD resources to promote the <br />acquisition, construction, and/ or rehabilitation of new affordable housing units <br />that will serve low- and moderate -income residents as well as special needs <br />populations throughout the City. <br />Basis for <br />The need for additional affordable housing was documented in stakeholder/ <br />Relative <br />resident workshops, the community needs survey, and an analysis of federal and <br />Priority <br />local data sources. Due to rising housing costs, low vacancy rates, and low fair <br />market rent values, solely relying on demand -based housing solutions (e.g. TBRA <br />and/ or down payment assistance) will not adequately address the housing <br />needs within Santa Ana. <br />Consolidated Plan SANTA ANA 116 <br />OMB Control No: 2506-0117(exp. 06/30/2018) 75A-124 <br />