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Funding Source <br />The Agency and the City of Santa Ana have committed sufficient Tax Increment funds to <br />finance the demolition and replacement of the one required replacement housing unit for <br />901 E. Brown. <br />Low /Moderate Income Assurance <br />All agreements related to replacement housing units will contain a covenant guaranteeing <br />units remain available at affordable housing cost to, and occupied by, persons and <br />families of low- income, moderate - income and very low income households for not less <br />than 55 years of low for rental units and 45 years for homeownership units, as required <br />by the Health and Safety Code Section 33413. <br />Article 34 Compliance <br />The replacement housing to be provided pursuant to this Replacement Housing Plan does <br />not require the approval of the voters pursuant to Article 34 of the California <br />Constitution, in that all of the replacement housing units fall within exceptions to the <br />definition of "low -rent housing project" in California Health and Safety Code 37001. The <br />one unit consists of acquisition and rehabilitation for the purpose of providing affordable <br />housing for low- income households. <br />Availability of Plan <br />In accordance with the Community Redevelopment Law, a copy of this Replacement <br />Housing Plan will be made available for review and comment by other public agencies, <br />and the general public during regular business hours between 8:00 a.m. and 5:00 p.m., <br />Monday through Friday in the offices of the Housing Department, 20 Civic Center Plaza, <br />3`d Floor, Community Redevelopment Agency, 20 Civic Center Plaza, 6th Floor, and in <br />the office of the City Cleric, 8th floor, Santa Ana, California. <br />Exhibit 1 <br />Page 2 of 2 4-4 <br />