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3. Definitions and Descriptions <br />Definitions <br />Term <br />Definition <br />Blighted Structure <br />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, sewerjLr4jSiFs. " <br />Affordable Rents <br />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 does <br />not ex P ercent 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 iii and Urban <br />Development, with adjus is for h . ehold size a &rmr bers of <br />bedrooms i1the unit." - <br />Descriptions h�.� <br />Term Definition -- i 1Q, <br />Long -Term Affordability ) er to ensu ., Winue abili . .. a maximum extent <br />and for ' long erm he for -sale properties it <br />.J 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 ' ord trust d _ to secure the NSP3 funds it invests In these for <br />s ` _ ; se do' s nts will have a 45 year term, and will require <br />_= = pay n full i er s to comply with the terms of the covenants. <br />Housing. abilitation <br />so <br />4. Low- <br />Low - Income Set -Aside <br />Ana has modified its existing NSP rehabilitation standards <br />Vew requirements established for NSP3. These newly <br />e attached to this Substantial Amendment as <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 Page 2 <br />City of Santa Ana <br />