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<br />MULTI-FAMILY RENTAL REBATE PROGRAM <br /> <br />The City of Santa Ana seeks to ensure that City <br />neighborhoods are attractive and well maintained. To <br />achieve that goal, the City has designed its Multi-Family <br />Rental Rebate Program to assist owners of residential <br />rental properties to maintain those properties in good <br />condition. The Program offers rebates of up to $5,000 to <br />owners to assist them with the cost of necessary repairs. <br />Funds are disbursed directly to property owners for the <br />cost of labor and materials incurred for eligible repairs. <br />The Program is dependent upon availability of funds. <br /> <br />General Eligibility Requirements <br /> <br />Borrowers must be the owners of multi-family residential <br />rental property located in the City of Santa Ana. Priority <br />will be given to properties that have been cited by the <br />City of Santa Ana for failure to comply with the City's <br />municipal code as it relates to the public health and <br />safety in the operation and maintenance of such buildings. <br />All owners of record must complete an application. Owners <br />whose front yard fences do not conform to the City's <br />municipal code must agree to use the Program to bring them <br />into conformance. Total annual income of all resident <br />households, meaning all persons using the property as their <br />primary residence, cannot exceed 80 percent of the area <br />median income as determined by the U.S. Department of <br />Housing and Urban Development. The following table is <br />effective as of March 15, 2004: <br /> <br />Household Maximum Household Maximum <br />Size Income Size Income <br />1 Person $41,600 5 Persons $64,100 <br />2 Persons $47,500 6 Persons $68,900 <br />3 Persons $53,400 7 Persons $73,600 <br />4 Persons $59,400 8 Persons $78,400 <br /> <br />Allowable Work <br /> <br />Owners may receive a maximum reimbursement of $2,500 on <br />each of two work items necessary to bring the property into <br />compliance with the City's building codes. The following <br />are examples of some of the physical improvement items that <br />are eligible for the rebate: <br /> <br />EXHIBIT 2 <br />Page 1 <br /> <br />19D-8 <br />