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DRAFT <br />B. DISTRIB UTION AND USES OF FUNDS <br />Provide a narrative describing how the distribution and uses of the grantee's NSP funds <br />will meet the requirements of Section 2301(c)(2) of HERA that funds be distributed to <br />the areas of greatest need, including those with the greatest percentage of home <br />foreclosures, with the highest percentage of homes financed by a subprime mortgage <br />related loan, and identified by the grantee as likely to face a significant rise in the rate of <br />home foreclosures. Note: The grantee's narrative must address these three stipulated <br />need categories in the NSP statute, but the grantee may also consider other need <br />categories. <br />Response: <br />As listed and described later in this Substantial Amendment, the City of Santa Ana is <br />proposing to create and implement six programs using NSP funds. <br />The table below shows the amounts of NSP funds to be budgeted for each of the six <br />programs. <br />Prog. No. Program Budget Location <br />1 Downpayment Assistance <br /> Program $400,000 Priority Area <br />2 Acquisition and Rehabilitation= <br /> Single Family Homes $2,015,636 Priority Area <br /> Acquisition and Rehabilitation - <br />3 Condominiums and Historic <br /> .Homes $700,000 Citywide <br />4 Acquisition and Rehabilitation - <br /> Rental Housing $1,800,000 Citywide <br /> CDBG <br />5 Eligible <br /> Census <br /> Redevelopment $300,000 Tracts <br />6 Admin $579,515 n/a <br /> Total: $5,795,151 <br />For Programs two, three, and four, the City and the intermediaries it selects to help <br />implement these programs will obligate NSP funds exclusively for residences located in <br />census tracts identified by the City as its areas of greatest need. These programs will be <br />undertaken by either non-profit or for-profit intermediaries. Entities will be procured <br />through a Request for Proposal (RFP) process that will be distributed to a broad range of <br />consultants, non-profits, developers, and others with significant skills in the <br />administration of housing programs. For programs two and three, successful candidates <br />will be those with the experience, resources and financial capacity necessary to buy, <br />7 <br />80B-17 <br />