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First Street 4partmentsProject <br />Relocation Plan <br />RESIDENTIAL <br />A. METHODOLOGY <br />For residential housing, a resource survey was conducted to identify available rental units <br />initially beginning within a three -mile radius from the Project site. The following sources were <br />utilized: <br />Classified rental listings from local newspapers and For Rentpublications <br />Contacts with real estate /property management companies serving the community <br />Internet sources of rental opportunities <br />B. REPLACEMENT HOUSING AVAILABILITY <br />1. Residential Rental Housing <br />The rental replacement housing survey considered one and two - bedroom apartments in Santa <br />Ana due to the undocumented and unconfirmed status of the number of residential occupants in <br />the unit at this time. This data is summarized in Table 4 below. The individual figures for <br />number of units found by bedroom size are presented in the table alongside the number of units <br />needed (shown in parentheses) to meet the re- housing obligations. <br />Table 4: Availability and Cost of Replacement Rental Housing <br /># of Bedrooms <br />One <br />Two <br />#Found ( #Needed) <br />11 (1) <br />24(1) <br />Rent Range <br />$884- $1,100 <br />$1,125- $1,500 <br />Median Rent <br />$1,045 <br />$1,450 <br />The median rent amounts shown in the table is among the figures used to make benefit and <br />budget projections for the Plan. This amount is, naturally, subject to change according to the <br />market rates prevailing at the time of actual displacement. The median rent for a two - bedroom <br />unit was used in the rental assistance calculation as the most conservative approach. <br />2. Summary <br />Considering the above described availability of replacement housing resources gathered, it <br />appears that there are more than adequate replacement units for the residential occupants. But, <br />while adequate replacement resources exist, based on survey results of rental opportunities and <br />the tenant's current rent, the tenant occupants will likely have an increase in monthly rent. <br />Possible increases, if any, will be met through the Developer's obligation under the relocation <br />regulations, including Last Resort Housing (LHR) requirements. (See Section IV,E). <br />55F -16 <br />