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F. This Program will assist the Redevelopment Agency to meet its affordable housing obligations as well as providing a permanent mechanism through which the issue of foreclosed or abandoned residences may be addressed. G. Approval of this Program will also improve the competitiveness of the City's NSP- 2 application. NSP-2 funding decisions will be made on a competitive basis. Applicants will receive additional points if they can demonstrate firm commitments for additional non-NSP, non-CDBG, and non-federal leveraging funds for investment in its NSP-2 Program from state, local, private nonprofit, or private for-profit sources. H. The Agency finds and declares that such expenditures will be of benefit to the entire merged redevelopment project area, and to all residents of the City. This finding is made pursuant to Health & Safety Code § 33334.2(8)(1). NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF SANTA ANA, AS FOLLOWS: Section 2. The Community Redevelopment Agency finds that each of the foregoing recitals is true and correct. Section 3. The Community Redevelopment Agency hereby commits $800,000.00 in leveraging funds from the Low and Moderate Income Housing Fund for the Neighborhood Stabilization Downpayment Assistance Program. Section 4. The Community Redevelopment Agency hereby finds and determines that the merged redevelopment project area of the Agency will benefit by the operation of the Program both within and outside the merged redevelopment project area, but within the boundaries of the City. Section 5. This Resolution shall take effect immediately upon its adoption by the Community Redevelopment Agency, and the Recording Secretary shall certify the vote adopting this Resolution. Resolution No. CRA 2009-010 Page 2 of 3