1901 E. FIRST STREET OWNER LLC (2) - 2014

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CITY OF SANTA ANA HOUSING OPPORTUNITY ORDINANCE AFFORDABLE RENTAL HOUSING PROGRAM SUMMARY The following document is meant to provide Property Owners that wish to construct rental housing projects with a basic summary of the City of Santa Ana's (City) Housing Opportunity Ordinance (Ordinance) requirements. This summary only identifies the basic characteristics of the program. Persons interested in learning more about the affordable housing obligations imposed by the Ordinance may request an Administrative Procedures Manual from the City. Key Housing Opportunity Ordinance Requirements A primary objective of the Ordinance is to provide affordable rental opportunities to residents who would otherwise have difficulty owning a home in Santa Ana. The Ordinance applies to residential projects with five or more units, under the following conditions: The conversion of commercial or industrial land to a residential use; or A zone change that increases the allowable residential density from the level that was permitted by the zoning in place as of the date of the application; or 3. The conversion of a hotel to a residential use; or 4. An increase in the percentage of residential development included in a . mixed -use development above the amount allowed by the zone; or The conversion of rental units to ownership condominium units. Rental projects that are subject to the Ordinance are provided with the following alternatives for fulfilling the affordable housing requirements: Fifteen percent (15 %) of the units within the market rate project can be rented to Very-Low Income Households and Low Income Households at the defined Affordable Rents; or 2. The required number of Inclusionary Units may be provided in a newly constructed project located in an off -site location; or Housing Opportunity Ordinance — Affordable Rental Housing Program Summary Page 1 Clty of Santa Ana August 8, 2014