Laserfiche WebLink
DRAF <br />(9) Projected Start Date: February 1, 2009 or such other date upon which grant funds are <br />received by the City of Santa Ana. <br />(10) Projected End Date: January 31, 2014 <br />(11) Specific Activity Requirements: <br />For acquisition activities, include: <br />• Discount rate. The required discount rate for all home purchases will be <br />consistent with the HUD regulatory requirement. <br />For financing activities, include: <br />• Range of interest rates. The loans will carry 3 percent interest rates forgivable <br />over the forty five year period. <br />For housing related activities, include: <br />• Duration or term of assistance; <br />Term of the City's trust deed will be.forty five years <br />• Tenure ofbeneficiaries--rental or homeownership, <br />Tenure will be homeownership <br />• A description of how the design of the activity will ensure continued affordability. <br />The City will use recorded trust deeds to ensure continued affordability. <br />21 <br />80B-31 <br />