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2010/11-2014-15 CITY OF SANTA ANA CONSOLIDATED PLAN ( 2013/14 <br />ACTION PLAN <br />PROGRAM SPECIFIC REQUIREMENTS <br />HUD requires that the City discuss how certain program specific requirements will be <br />addressed during the program year. These actions are outlined below. <br />COMMUNITY DEVELOPMENT BLOCK GRANT <br />The City of Santa Ana will expend CDBG funds on eligible activities to address priority <br />housing and community needs. It is anticipated that 100 percent of CDBG funded activities <br />will benefit Low- and Moderate-Income households (that is, no CDBG funds will be spent on <br />activities that do not benefit a minimum of 51 percent Low- and Moderate-Income <br />households). These activities are described in detail in EXHIBIT 3. The City anticipates it will <br />receive program income during the 2013-2014 Program Year. As required by HUD <br />regulations, these resources will be utilized during the program year. <br />The City did not have any grant funds returned to its line of credit, nor will it undertake <br />float-funded activities (thus it will not realize any program income from float-funded <br />activities). Finally, the City does not anticipate undertaking urgent need activities during the <br />2013-2014 Program Year. <br />HOME <br />The City of Santa Ana 2013-2014 HOME program is designed to undertake eligible activities <br />to preserve existing affordable housing, expand the supply of decent and affordable <br />housing, and strengthen public-private partnerships. All HOME assisted units will have <br />appropriate covenants and written agreements in accordance with HUD regulations. <br />To comply with HOME regulations a homeownership unit will meet certain "affordable" <br />requirements: <br />¦ The initial purchase price cannot exceed 95 percent of the area median purchase price <br />¦ The home must be the principal residence of low-income household <br />¦ The unit is subject to resale restrictions; specifically for Santa Ana, the City will allow for <br />subsequent purchase of a HOME-assisted property only by low income buyer. <br />Affordability covenants will be in place for 15 years. <br />ADDI is a subprogram of the HOME grant. No new ADDI funds have been provided by HUD; <br />however, the City may use remaining prior year allocations to help qualified homebuyers <br />obtain mortgage financing. Over the past years, the City has received a total of $341,240 in <br />ADDI funding from HUD - presently the City has a balance of approximately $195,000. <br />DRAFT 04/22/2013 39 <br />29A-44