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2010/11 - 2014/15 CITY OF SANTA ANA CONSOLIDATED PLAN I 2014/15 <br />ACTION PLAN <br />PROGRAM <br />DESCRIPTION <br />ELIGIBLE ACTIVITIES <br />Program that subsidizes rental for very low - <br />Housing Choice Vouchers <br />income families, individuals, seniors and the <br />disabled. Participants pay approximately 30% of <br />$28,477,812 <br />adjusted income toward rent. SA Housing <br />■ Rental Assistance <br />Authority pays balance of rent to property owner <br />and administers the program — 2,699 vouchers <br />Neighborhood Stabilization <br />Acquisition <br />Program (NSP) 1,2 & 3 <br />Federal grant program that provides targeted <br />' Rehabilitation <br />assistance to acquire and redevelop foreclosed <br />$0 <br />homes and residential properties that might <br />' Resale of foreclosed & <br />�/Agproyramfunds have been <br />otherwise become sources of blight. <br />abandoned residential <br />expended, • a balance ofadminfunds <br />All projectfunds have been expended. <br />properties <br />remain available) <br />. Program administration <br />Program encourages private capital Investment to <br />. New Construction <br />Low Income Housing Tax Credit <br />develop affordable rental housing for low- income <br />(LIHTC) <br />households. Tax credits are available to <br />' Housing Rehabilitation <br />individuals and corporations investors <br />' Acquisition <br />STATE RESOURCES <br />California Dept, of Housing & <br />Low interest loans for the development of <br />■ Ownership & Rental <br />Community Development <br />affordable housing <br />Housing Projects <br />CITY OF SANTAANA RESOURCES <br />Santa Ana Redevelopment <br />Redevelopment Agency activities were <br />Agency Low Income Housing <br />terminated by the State Legislature. Resources no <br />■ None <br />Set -Aside Fund <br />JAR92 available <br />The City allows an increase in density to <br />Density Bonus <br />developers who set -aside at least 25% of their <br />. Density Bonus <br />project to low- and moderate - income persons <br />The Housing Authority has the authority to issue <br />Tax Exempt Bonds <br />tax- exempt bonds. Bond proceeds are used to <br />• Housing Development <br />develop affordable housing <br />If available and appropriate, City or <br />City /Agency Owned Land <br />Redevelopment Agency owned land might be <br />■ Housing <br />made available. <br />;PRIVATE RESOURCES <br />- <br />1. Community Home Buyer Program - Fixed rate <br />Federal National Mortgage <br />mortgages <br />Assoc. (Fannie Mae) <br />2. Community Home Improvement Mortgage <br />• Homebuyer Assistance <br />Program — Mortgages for both p urchase and <br />Homebuyer <br />Freddie Mac <br />rehabilitation of a home <br />Assistance /Rehab <br />3. Fannie Neighbor— Under served low- income <br />a Expand Home Ownership <br />FHA <br />minorities are eligible for low down - payment <br />for Minorities <br />mortgages for the purchase of single family <br />homes <br />California Community <br />Nonprofit mortgage banking consortium that <br />Reinvestment Corp. <br />pools resources to reduce lender risk in financing <br />■ New Construction <br />(CCRC) <br />affordable housing <br />• Rehabilitation <br />04/25/2014 15 <br />