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2012/13 12010/11- 2014/15 CITY OF SANTA ANA CONSOLIDATED PLAN ACTION PLAN PROGRAM SPECIFIC REQUIREMENTS HUD requires that the City discuss how certain program specific requirements will be addressed during the program year. These actions are outlined below. COMMUNITY DEVELOPMENT BLOCK GRANT The City of Santa Ana will expend CDBG funds on eligible activities to address priority housing and community needs. It is anticipated that 100 percent -of CDBG funded activities will benefit Low- and Moderate-Income households (that is, no CDBG funds will be spent on activities that do not benefit a minimum of 51 percent Low- and Moderate-Income households). These activities are described in detail .in ExHIBIT 3. The, City anticipates it will receive program income during the 2012-2013 Program Year. As required by HUD regulations, these resources will be utilized during the program year. The City did not have any grant funds returned to its line of credit, nor will it undertake float-funded activities (thus it will ''not realize any program income from float-funded activities). Finally, the City does not anticipate undertaking urgent need activities during the 2012-2013 Program Year. HOME The City of Santa Ana 2012-2013 HOME program is designed to undertake eligible activities to preserve existing affordable housing, expand the supply of decent and affordable housing, and strengthen„public-privatep artnerships. All HOME assisted units will have appropriate covenants and written agreements in accordance with HUD regulations. To comply with HOME regulations.a homeownership unit will meet certain "affordable" requirements: ¦ The initial purchase price cannot exceed 95 percent of the area median purchase price ¦ The home must be the principal residence of low-income household ¦ The unit is subject to resale restrictions; specifically for Santa Ana, the City will allow for subsequent purchase of a HOME-assisted property only by low income buyer. Affordability covenants will be in place for 15 years. ADDI is a subprogram of the HOME grant. No new ADDI funds have been provided by HUD; however, the City may use remaining prior year allocations to help qualified homebuyer obtain mortgage financing. Over the past years, the City has received a total of $341,240 in ADDI funding from HUD - presently the City has a balance of approximately $204,000. 2012-2013 ANNUAL ACTION PLAN 36 DRAFT 04/08/2012 29B-43