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CITY OF SANTA ANA <br /> <br /> <br /> <br /> <br /> <br /> <br />maximum rent (i.e., tenant contribution plus project-based rental subsidy) is the rent allowable <br />under the Federal or State project-based rental subsidy program. <br />(3) To ensure that HOME-ARP investments yield affordable housing over the long term, HOME- <br />ARP imposes rent and occupancy requirements over the length of an affordability period. <br />HOME-ARP Period of Affordability <br />A minimum compliance period of fifteen (15) years for all HOME-ARP rental units irrespective of the <br />amount of subsidy per unit or whether the units are acquired, rehabilitated, and/or newly constructed. <br /> <br />Throughout the affordability period, income-eligible households must occupy the HOME-ARP <br />assisted housing. When units become vacant during the affordability period, subsequent tenants must <br />be income eligible and must be charged the applicable HOME-ARP rent. <br /> <br />Other Requirements <br />Minimum Loan: All HOME-ARP investments must total not less than $1,000 multiplied by the <br />number of HOME-ARP assisted units in the project. <br /> <br />Maximum Loan: The maximum per-unit subsidy established in NAHA does not apply to HOME-ARP <br />units. One-hundred percent of the eligible and reasonable HOME-ARP costs allocated to a HOME- <br />ARP unit, including operating costs assistance associated with the units restricted for occupancy by <br />qualifying households. All costs paid by HOME-ARP funds must comply with the requirements of the <br />Cost Principles at 2 CFR part 200, subpart E of the Uniform Administrative Requirements, as <br />amended. <br /> <br />Property Standards: HOME-ARP rental units must comply with all property standards applicable to <br />rental projects required in 24 CFR 92.251 paragraphs (a) new construction, (b) rehabilitation projects, <br />(c) (1) and (2) acquisition of standard housing, (e) manufactured housing, and (f) on-going property <br />condition standards. <br /> <br />Labor Standards/Construction Contracts: Any contract for construction (whether it is for <br />rehabilitation or for new construction) of affordable housing with 12 or more units assisted with <br />HOME-ARP funds must contain a provision requiring that not less than the prevailing wages paid in <br />the locality, as determined by the Secretary of Labor pursuant to the Davis-Bacon Act, will be paid to <br />all laborers and mechanics employed in the development of the project. Contracts over $10,000 must <br />comply with Equal Opportunity Affirmative Action requirements of Section 3 of the Housing and Urban <br />Development Act of 1968. All efforts shall be made to provide equal opportunity for employment <br />without discrimination as to race, marital status, sex, color, age, religion, national origin or ancestry, <br />and to seek out qualified local tradespeople for contracting and subcontracting bids. Contractors and <br />subcontractors must comply with regulations issued under this Act and pertaining to labor standards <br />and HUD Handbook 1344.1. These provisions apply whether HOME-ARP funds are used for <br />construction or non-construction costs. <br /> <br />Lead-based Paint: Housing assisted with HOME-ARP funds constitutes HUD-associated housing <br />for the purpose of the Lead-Based Paint Poisoning Prevention Act and the Lead Safe Housing Rule, <br />and is therefore subject to 24 CFR Part 35. Unless otherwise provided, borrowers are responsible <br />for testing and abatement. <br /> <br />For more information, please see CPD Notice 21-10. <br /> <br />EXHIBIT 1