29A - NSP2 AMEND TARGET AREA - Laserfiche WebLink

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lead -based paint hazards. Young children are particularly susceptible to these hazards, and lead poisoning can have long term, deleterious consequences for them and their families. In this regard it is important to note that Santa Ana has a very young population, and so more children at risk of lead -based poisoning. According to the 2000 Census, children under the age of 18 and family forming adults between the ages of 25 and 44 each comprised more that 34 percent of the City's population. A final contributing factor is gang activity. The poorer neighborhoods in the City of Santa Ana, many of which are in the NSP 2 target geography, have long been negatively impacted by gang activity. Gangs are prone to congregate in vacant buildings, causing disruption in the neighborhoods and in most cases physical destruction of the homes they take over. They also are a deterrent to attracting new homebuyers. (5) Activity Categories The City will continue its NSP2 activity categories in these four proposed census tracts. The City has determined that the NSP2 activity category most likely to achieve neighborhood stabilization in the City's targeted neighborhoods is the establishment of financing mechanisms for the purchase, redevelopment, resale and /or rent foreclosed upon residential properties. The City believes that through its proposed programs it will be able to address the destabilizing impact of most of the factors identified above. The Downpayment Assistance and Single Family Acquisition and Rehabilitation Programs will have the following positive benefits: • Over Valuation. Properties will be purchased at prices established in accordance with appraisals. Buyers will not be assisted to purchase homes at inflated prices. • Subprime Mortgages. Buyers will be required to obtain homebuyer counseling and conventional, fixed rate affordable first mortgages. • Lower Household Incomes. Buyers will be provided with silent second mortgages. NSP 2 Substantial Amendment - City of Santa Ana Page 10 29A -12