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206 S. Flower Acquisition and Relocation <br />Relocation Plan <br /> <br />8 <br />III. RELOCATION RESOURCES <br /> <br />A. METHODOLOGY <br /> <br />For residential housing, a resource survey was conducted using Apartments.com, Craigslist, and <br />similar online resources to identify comparable units for rent near the Properties. <br /> <br /> <br />B. REPLACEMENT HOUSING AVAILABILITY <br /> <br />1. Residential Replacement Housing <br /> <br />The replacement housing survey considered available two-bedroom units for rent in Santa Ana <br />and expanding to surrounding communities within Orange County as of the date of this Plan. The <br />survey identified 22 two-bedroom homes within 5 miles of the Properties. This data is summarized <br />in Table 3 below. <br /> <br />Table 3: Availability and Cost of Replacement Housing <br /> 2 Bedroom <br /># Found 22 <br />Rent Range $2,293-$3,200 <br />Median Rent $2,600 <br /> <br />The median listing amount shown in the table is among the figures used to make benefit and budget <br />projections for the Plan. This amount is, naturally, subject to change according to the market <br />rates prevailing at the time of displacement. <br /> <br />Listings identified are located in Santa Ana and neighboring cities within 5 miles of the Site in the <br />surrounding communities of Tustin, Orange, and Fountain Valley. <br /> <br />2. Summary <br /> <br />Considering the above-described availability of replacement housing resources gathered, it appears <br />there should be an adequate number of comparable replacement units for the residential occupants, <br />and the households should be able to remain within Santa Ana. <br /> <br />Adequate replacement resources exist for the households, but the comparable units are priced <br />significantly higher than the Properties, primarily due to the age and condition of the Properties. <br />The current rent being charged for the Properties ranges from $810 to $830 and comparable rents <br />do not exist in the area or surrounding communities. Due to the higher price of the comparable <br />units compared to the appraised values, it is expected that Last Resort Housing payments will be <br />necessary, as the rental assistance differential payments required will be greater than $5,250 (See <br />Section IV, E). <br /> <br />