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<br /> <br /> <br /> <br /> <br /> <br /> <br /> 4. Barriers that have a negative impact on fulfilling the strategies and overall vision? <br /> <br /> The City encountered some barriers as it set out to implement its overall vision for community <br /> improvement; the most significant include the following: <br /> ¦ Perhaps the greatest barrier or obstacle impacting the City's ability to implement its community <br /> vision has been housing costs. While the cost of home buying has become relatively more <br /> affordable, homeownership still remains a challenge for lower income households. At the end <br /> of June 2013, the median home sales price was $385,000. The me ' home sales prices <br /> remains out of reach for lower income households. Additional t underwriting <br /> standards by lenders has also eliminated many buyers with to ¢inal credit <br /> <br /> from obtaining a home purchase loan. Average rents have al ear. In <br /> July 2013, the average monthly rent for an apartment in S ty of <br /> Orange estimates that an individual earning minimum s/week <br /> to afford rent for a modest 1-bedroom apartment] s continue <br /> to pressure the City to identify resources to P ameownership <br /> opportunities, especially for lower income ho, <br /> • Increases in transportation and material amount of money the <br /> City has to fund activities. The cost of y the transport materials <br /> have had significant impact on th,- ction projects and housing <br /> <br /> rehabilitation. <br /> • Municipalities throughout budget deficits that have forced <br /> reductions in personnel ose budget shortfalls. City staff that <br /> manage HUD funds , budget pressures. State legislation that <br /> eliminated redevF significant barrier to carryout the goals and <br /> programs delir <br /> <br /> 5. What strategies and activities might meet community needs <br /> <br /> mo <br /> No adj die City's current strategies are anticipated at this time. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> 10 2013 Community Indicators, Orange County, May 2013. <br /> <br /> 08/11/2013 32 <br /> <br /> 19E-40 <br />