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or some other entity in'~'rested in maintaining the affordable housing; 2) Whether interested parties have the capability to own and manage .the property and provide quality housing to low-and very-low income householdS; and 3) Whether potential buyers with thel city's assistance can raise sufficient debt and equity funds to cover predevelopment expenses, purchase the project, make necessary improvements and manage the property. Preparing a feasibility study can be quite complex and the city as part of its preservation program is prepared to assist in the evaluation of the physical, financial, and management needs of an existing building as well as in identifying financing to acquire, make improvements, and manage the project. Analysis OfFederal, State And Local FinanciallncentivesTo Deter Conversion And Assist With Acquisition And Preservation Of Subsidized Housing Identifying and determining the availability of financial incentives to deter conversion and assist with acquisition and preservation of subsidized housing is an ongoing part of the city of Santa Ana's program for preservation. A summary of potential resources for preservation are included as part of this housing element amendment. Even in instances where a purchaser assumes the existing mortgage and operating subsidies, significant additional financial support is anticipated to be required to finance the difference between the purchase price and outstanding mortgages, as well as for predevelopment expenses, and to make needed physical repairs or improvement~. Sources of funding for these items are expected to be quite varied throughout the period of time in which subsidized housing development may be threatened. The city of Santa Ana is prepared to track current financial incentives and analyze their applicability to the preservation effort. Provision Of Technical Assistance To Developers, Nonprofit, Corporations And Resident Councils Interested In Negotiating The Acquisition Of Subsidized Housing The Federal Low-Income Housing Preservation and Resident Homeownership Act of 1990, includes a 12 month "Right of First Offer" period for priority purchasers including resident councils, nonprofit organizations, and state or local agencies that agree to maintain the affordability restrictions for a project's useful life. The City of Santa Ana is prepared to provide technical assistance to these groups as well as to other interested parties that seek to preserve affordable housing developed with federal, state of local resources. 195 17