Laserfiche WebLink
Income households, the Affordable Sales Price will be the product of 35% times 100% of <br />the Area Median Income, adjusted for family size appropriate for the unit. <br />"Agency" means the Community Redevelopment Agency of the City of Santa <br />Ana, a public body, corporate and politic, exercising governmental functions and powers, <br />and organized and existing under the Community Redevelopment Law of the State of <br />California (Health and Safety Code Section 33000 et seq.) The principal office of the <br />Agency is located at 20 Civic Center Plaza, Santa Ana, California, 92702. <br />"Agreement" means this Neighborhood Stabilization Program Agreement <br />between the City and the Developer, and any attachments thereto. <br />"Applicable Law" shall mean those federal, state and local laws, ordinances, <br />regulations, policies and procedures applicable to the NSP, and the NSP 3 Funds. <br />"Blighted" a structure is blighted when it exhibits objectively determinable signs <br />of deterioration sufficient to constitute a threat to human health, safety and welfare. <br />"Building Permit" means the building permit(s) issued by City and required for <br />the rehabilitation, if any. <br />"Business Day" means any Monday, Tuesday, Wednesday, Thursday or Friday <br />on which Santa Ana City Hall is open to the public for the conduct of City affairs. <br />"City" means the City of Santa Ana, a charter city and municipal corporation. <br />"Current Market Appraised Value" the current market appraised value means <br />the value of a foreclosed residential property that is established through an appraisal <br />made in conformity with the appraisal requirements of the Uniform Relocation Act <br />(URA) 49 CFR 24.13 and completed within 60 days prior to the final offer made for the <br />property. <br />"Deed of Trust" means the Deed of Trust with the Developer encumbering the <br />NSP Assisted Unit in the form attached hereto as Exhibit B. <br />"Developer" means ANR Homes Inc., a California corporation, and its affiliate, <br />ANR Santa Ana, NSP, LLC. <br />"Eligible Property" shall mean a property that the City shall in its sole discretion <br />determines meets NSP Program Criteria. <br />"Executive Director" means the Executive Director of the Community <br />Development Agency, or his/her designee. <br />"Foreclosed" As defined by HUD for the purposes of NSP means "A home or <br />residential property has been foreclosed upon if any of the following conditions apply" <br />2 <br />?W24 1