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3. Definitions and Descriptions <br />Definitions <br />Term Definition <br />Blighted Structure In accordance with Section 33031 of the California Redevelopment Law, the <br /> City of Santa Ana will define blighted structures in the following way: <br /> "Buildings in which it is unsafe or unhealthy for persons to live or work. <br /> These conditions may be caused by serious building code violations, serious <br /> dilapidation and deterioration caused by long-term neglect, construction <br /> that is vulnerable to serious damage fro geismic or geologic hazards, and <br /> faulty or inadequate water or, sewer tt <br />Affordable Rents The City of Santa Ana will define. " ble rents in a manner consistent <br /> with the requirements of the f. Program for very low income <br /> rents: i <br />"A rent that d <br />t <br /> oes no <br />ex Percent of usted monthly income of a <br />? <br /> family whose annual i • ' equals 50 percent. : e median income for the <br /> area as determined b = . S. Department of Ho and Urban <br /> Development, with adjus is for h . ehold size a tubers of <br /> bedrooms i1the unit." - <br />r., <br />y <br />Descriptions ,_ ry VEN, <br />Term Definition --iQ' <br />Long-Term Affordability ) er to ensu ntinue abili . .. a maximum extent <br /> and for ' long erm he for-sale properties it <br />J1 assists NSP3 mo ity inrrf?`= rd affordability covenants that <br /> ill run f period o ars. In addi Aon, the City will obtain promissory <br /> s an ' old trust d _ to secure the NSP3 funds it invests In these for <br /> s ` se do' nts will have a 45 year term <br />and will re <br />uire <br /> , <br />q <br />pay full i er s to comply with the terms of the covenants. <br />Housin . <br />abilitation <br />% <br />V <br />Stand ity o ; .a Ana has modified its existing NSP rehabilitation standards <br />j: so . Q meets ? ?. ew requirements established for NSP3. These newly <br /> revis tandar u e attached to this Substantial Amendment as <br />` <br /> Attach'. <br />pt 2. <br />4. Low-Incom I'M <br />Low-Income Set-Aside ArRbWt <br />Identify the estimated amount of funds appropriated or otherwise made available under the NSP3 to <br />be used to provide housing for individuals or families whose incomes do not exceed 50 percent of <br />area median income. <br />Response: <br />Total low-income set-aside percentage (must be no less than 25 percent): 25.009,06 <br />Total funds set aside for low-income individuals = $366,028.25 <br />Meeting Low-income Target <br />NSP3 Substantial Amendment <br />City of Santa Ana <br />Page 2 <br />20A-9