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80A - LOAN AGMTS ROSS & DURANT
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01/03/2006
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80A - LOAN AGMTS ROSS & DURANT
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Last modified
1/3/2012 4:49:20 PM
Creation date
12/28/2005 11:47:29 AM
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City Clerk
Doc Type
Agenda Packet
Item #
80A
Date
1/3/2006
Destruction Year
2011
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<br /> <br />Rehabilitation work in the Project will result in the need to temporarily displace 24 residents <br />from their units. Temporary relocation needs will be met by utilizing available on-site units <br />or units owned by the Developer less than a block away. The Developer anticipates that <br />all households will be accommodated on-site and no temporary units off-site will be <br />required. <br /> <br />Due to the rehabilitation work and income criteria, 5 households will not be able to return <br />to the Project once the units are rehabilitated. <br /> <br />For purposes of determining the availability of rental housing resources for the permanent <br />displacees within the City of Santa Ana, a survey was conducted during the month of <br />November 2005. The results, summarized below in Table 6, indicate the number of found <br />& needed units by bedroom size, the cost range in each category and median market rent <br />for each category. <br /> <br />Table 6: Rental Unit Availability and Cost by Bedroom Size <br /> Studio 1 bedroom 2 bedroom 3 bedroom <br /># Found (# needed) 41 (2) 77 (1) 71 (2) 21 (0) <br />Rent Range $550-$1,180 $795-$1,350 $895-$1,870 $1,250-$2,100 <br />Market Median Rent $825 $950 $1,295 $1,600 <br /> <br />It is expected that there will be more than adequate resources to house the 5 permanent <br />displacees given the balance between needs and available resources. <br /> <br />Concurrent Displacement <br /> <br />There are no known projects that are planned concurrently with this project in the City of <br />Santa Ana or surrounding areas that would compete with existing or anticipated housing <br />resources. <br /> <br />Prepared by Overland, Pacific & Cutler, Inc. <br /> <br />Page 10 <br /> <br />80A-20 <br />
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