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GTY OF SANTA ANA <br />2009-2010 ANNUAL ACTION PLAN <br />'• '+ ~ • <br /> Rental assistance program that provides a subsidy <br /> to very low-income families, individuals, seniors <br />Housing Choice Vouchers and the disabled. Participants pay 30% of their <br /> adjusted income toward rent. The Santa Ana ^ . Rental Assistance <br />$25,170,000 Housing Authority pays the balance of rent to <br /> property owners, and administers the program - <br /> 2,500 vouchers <br /> Program encourages the investment of private <br /> <br />capital for the creation of affordable rental _ <br />'." ~ New Construction <br />Low Income Housing Tax Credit housing for low-income households. Tax credits <br />~ , ^ Housing Rehabilitation <br />(LIHTC) .. <br />are available to individuals and corporations wha ~ ^ Acquisition <br /> invest in such projects ~ J>' `~ ~~ ,, <br /> <br />i, ~+~~ "~'~ob Training <br />~T~: <br />Empowerment Zone ~ ~ '' <br />A flexible funding source available to address the ' Education <br />~ ~~: <br />lf <br />H <br />i <br /> needs of City residents with Incomes at or below <br />. erv <br />ces <br />ea <br />$0 <br />poverty level. ~ f?°. ' Smalf Btsmess Loans <br />~ <br />(Continue to use prior year funds.) ~' ^ Housing Rehabilitation <br /> ~' ;~ ;~z ~ •~ ^ Youth Activities <br />STATE RESOURCES ~" ~ '% <br />~ <br />California Department of `,' <br />Housing & Community Low interest lo~~ns for tftc~developmr~nt`of <br />Development: Pre-development :, ; <br />affordable housing with'~aan~~rof±t <br />agr~ncie ^ Predevelopment Loans <br />Loan Program g <br />,~ <br />~'~ ~- <br />California Department of _?~ ~ "` " <br />Housing & Community >`' ~ .3-~~ <br />~. ^ First-time Homebuyer <br />Development: CaIHOME - +~ ~ <br />Financ~n~ for housing programs Assistance <br />Program :,,,..,.. ^ Ownership and Rental <br /> '; - ~ housing projects <br />$900,000 '' ' ' <br />CITY OF SANTA ANA RESOURCES ~ -~' <br /> <br />~ Funds received from increased property taxes ^ Residential Rehab. Loans <br />Santa Ana Redevelopnient~ generated by property improvements sponsored <br />' ^ Replacement Housing <br />Agency Low Iricotne Housing by the Agency <br />s six redevelopment project areas. <br />Set-Aside Fund Twenty percent (20%) of these property tax funds ~ Neighborhood <br /> <br />~ must be set aside for the development, Improvement Programs <br />$14,000,000 <br />=~ preservation, or rehabilitation of affordable ' Neighborhood Capital <br />'s <br />;housing <br />Projects <br /> The City allows an increase in density to <br />Density Bonus ~ "developers who set-aside at least 25% of their ^ Density Bonus <br />~ project to low- and moderate-income persons <br /> The Community Development Agency and <br /> <br />Tax Exempt Bonds Housing Authority have the authority to issue tax- <br />^ Housing Development <br /> exempt bonds. Bond proceeds are used to <br /> develop affordable housing <br /> If available and appropriate, City or <br />City/Agency Owned Land Redevelopment Agency owned land might be ^ Housing <br /> made available. <br />Attachment 2 29A2 ~~ oa/is/o9 <br />