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affordable housing. <br />The Housing Needs Assessment also identified stringent criteria In the mortgage origination process that <br />continues to this day even after the 2010 foreclosure crisis has ended, which also is outside the scope <br />and control of City policy. In some instances, issues revolving around personal finances (lack of down <br />payment, credit history, employment history) affect the availability of affordable housing for residents. <br />Market factors that tend to restrict affordable housing production are: high land costs, high construction <br />costs, and the availability of financing. <br />In an effort to mitigate these barriers, the City of Santa Ana has ,yo'ejtiaken the following actions: <br />• City Council adopted an inclusionary housing <br />Ordinance (HOO) that requires either 10%or <br />to very low- and low-income households hl <br />• The City utilizes limited public resources <br />rehabilitation of rental housing units. This psi <br />units thus partially offsetting the impacts of s <br />• The City's Housing Authority cb�nA138ts,�utrea <br />participation in the rental assistaij 't'0g'ta,ir <br />Discussion: <br />linan'e''Fe"flfred to as the Housing Opportunity <br />'1,011�gpfall new UhIR in Santa Ana to be affordable <br />hg� t <br />:i� � <br />the development an%orthe:acquisition and <br />4qya <br />s,assistanMn,,Will result in io,,�ter rents for assisted <br />s listed abogi <br />to f�fit`a'i'property owners to <br />Annual Action Plan <br />2018 <br />99 <br />OMB Control No: 250"117(exp. 06/30/2018) 75A-43 EXHIBIT 1 <br />