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SP-30 Influence of Market Conditions — 91.215 (b) <br />Influence of Market Conditions <br />Affordable <br />Market Characteristics that will influence <br />Housing Type <br />the use of funds available for housing type <br />Tenant Based <br />High market -rate rents in most Santa Ana neighborhoods, combined with Fair <br />Rental Assistance <br />Market Rents below current market rents, limit the ability to use HOME funds <br />(TBRA) <br />for tenant- based rental assistance. Housing Choice vouchers administered by <br />Santa Ana Housing Authority will continue to be a critical resource for low- <br />income families and individuals and TBRA program will continue to be used as a <br />complement to critical programs (such as rapid rehousing for homeless <br />residents), but will not be a primary affordable housing approach within the <br />City. <br />TBRA for Non- <br />See TBRA above. <br />Homeless Special <br />Needs <br />New Unit <br />As documented in the Needs Assessment and Market Analysis, the need for <br />Production <br />affordable housing is high throughout Santa Ana. The City will continue to use <br />its HOME resources to serve as leverage for the development and construction <br />of new affordable housing throughout the City. <br />Rehabilitation <br />The City will invest CDBG and HOME funds in the Housing Rehabilitation <br />Program as a cost effective means of preserving the supply of homeowner and <br />multi -family rental housing. Rehabilitation programs will also enable the City to <br />prioritize the preservation of older housing stock that is at a greater risk of <br />falling into disrepair. <br />Acquisition, <br />The City will continue to use HUD resources to prioritize the preservation of <br />including <br />existing affordable housing in the City. As documented in the Market Analysis, <br />preservation <br />more than 200 affordable units are at risk of expiring in the next five years. <br />When possible, the City will use HOME resources and other federal and local <br />resources to prioritize the preservation of these units. Preserving existing <br />affordable housing is critical to maintaining a robust affordable housing stock in <br />the City. <br />Table 28 — Influence of Market Conditions <br />Consolidated Plan SANTA ANA 122 <br />OMB Control No: 2506-0117(exp. 06/30/2018) 75A-130 <br />