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NSP Agreements <br />April 6, 2009 <br />Page 4 <br />identified in the application as 40 Single Family and 10 Condominium and <br />Historic homes. The NSP funds will be used for acquisition and <br />rehabilitation costs. Tax increment funds previously committed to this <br />program will be used to create deeper affordability and assist the Agency <br />in meeting its housing production goals. Given the desire to recycle <br />funds and stabilize communities as quickly as possible, ANR will be <br />selecting local real estate brokers that are most knowledgeable of the <br />market and have a successful track record. Their selection will be based <br />on volume of sales, days on the market, and comparison of listing price <br />vs. sales price, excluding foreclosed properties. <br />The NSP guidelines also encourage the use of energy efficient products in <br />the rehabilitation of the homes. ANR has a history of using energy <br />efficient features in its rehabilitation and new construction projects. <br />These include the following features: low-flush toilets, insulation, <br />high efficiency systems, and tankless water heaters. In addition, yards <br />will be landscaped with low-maintenance and drought tolerant plants. <br />Rental Program Intermediar <br />NSP regulations require that at least 25 percent of the City's award be <br />spent on units that will assist families with household incomes at or <br />below 50 percent of the Area Median. To satisfy this requirement, the <br />City will commit $1.8 million of its allocation to the acquisition and <br />rehabilitation of rental units to be owned and managed by an experienced <br />nonprofit intermediary. OHDC owns and manages more than 2,600 units <br />located throughout California. More than 600 of these units are in Santa <br />Ana. Other cities they have partnered with include the Cities of Orange, <br />Indio, Anaheim, and San Diego. C & C has many years of residential <br />development and management experience, and previously partnered with OHDC <br />in the Santiago Villas, Ross-Durant, and Wilshire-Minnie projects. <br />ENVIRONMENTAL COMPLIANCE <br />In accordance with the California Environmental Quality Act and the <br />National Environmental Policy Act, the proposed project is exempt from <br />further review. <br />25E-4 <br />