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Page 2 Se units to the tax rolls and hopefully will stimulate greater pride in home ownership and voluntarily improvements in nearby residences. In the central city area, these funds can be used by the Redevelopment Agency to acquire gradually the 18 acres of substandard residences in the downtown project area, relocate the residents to sound dwellings, clear the land, and re-sell it to private developers for new housing units. It will probably be necessary to acquire a full city block at one time in this area so multi-family units can be constructed. Rehabilitation Loans. Loans can be made available at nominal or re- duced rates of interest, and with or without partial subsidy, to qualified iow-income homeowners who are unable to obtain commercial loans to bring their residential units up to minimum safety codes. Qualifying procedures must be developed and repayments could be placed in revolving, interest-bearing accounts to be used again for additional 'home improvement loans. A portion of these rehabilitation loans might also be made available to qualified owners of conunercial and indus- trial properties if HUD approved. Neighborhood Improvements. It is recommended that the largest portion of C.D. funds (30%) be used for implementing neighborhood improvement projects. These could include storm drains, sewers, street improve- ments, curbs, sidewalks, street lights, street trees, open space acquisition, park development and any other HUD-approved project of direct benefit to City housing and living conditions. Smaller amounts are suggested in the initial years to allow sufficient time for the development and citizen approval of specific neighborhood improvement plans, particularly in areas such as west of the Santa Ana River where drainage improvements are a prerequisite to street improvements. C-5-F Storm Drain. This specific project is identified separately be- cause of its magnitude. Further engineering analysis has indicated that a minimum of $800,000 must be spent initially to achieve any significant benefit and this will preclude funding in the first year unless other potential sources of funding can be secured. These other sources could include funding from the County Flood Control District, General Revenue Sharing, or the Economic Development Act. The project will be of great benefit to large areas in the western portion of the City, and in many instances must be completed before street improvements can be constructed. Contingency and Administration. A small portion of C.D. funds is provided as a contingency for inflation in project cost estimates, and for the coordination and administration of specific development plans.