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• Investor Purchases. Assistance will only be provided to homebuyers committed to using the <br />home as their principal residence. Continued use of the property for that purpose will be <br />monitored. <br />• Overcrowding. Affordable financing and realistic purchase prices will enable homebuyers to <br />purchase homes that are adequate to their household needs. <br />• Disrepair and Lead Based Paint. Homes purchased through the Single Family Acquisition, <br />Rehabilitation, and Resale Program will be free of code deficiencies. Homebuyers using the <br />City's Downpayment Assistance Program will be encouraged to take advantage of the City's <br />affordable rehabilitation loan programs to address code deficiencies, Those programs allow <br />for forgiveness of funds necessary to address lead based paint hazards. <br />• Gang Activity. Homebuyers using these programs will reduce the number of vacant homes <br />susceptible to gang takeover. <br />The City's Acquisition and Rehabilitation of Rental Housing Program will have different, though <br />equally important positive benefits as follows: <br />• Cost Burden. Rents will be fixed at levels affordable to very low- income households. The <br />City will calculate rents in accordance with HOME regulations. Owners will be required to <br />reduce them in accordance with an allowance for tenant paid utilities. <br />• Overcrowding. The City will require that property owners comply with Federal guidelines <br />regarding occupancy. <br />• Disrepair and Lead Based Paint. Owners will be required to maintain their properties in <br />accordance with HOME Program regulations. The City will conduct periodic physical <br />inspections to insure that this is done. <br />• Gang Activity. Owners will be required to adopt and enforce appropriate house rules <br />prohibiting such activity. <br />Central to the City's achievement of these benefits will be its commitment to work only with <br />nonprofit or for profit buyers of rental units with an established track record of effective <br />property management. <br />NSP 2 Substantial Amendment - City of Santa Ana Page 11 <br />29A -13 <br />