I am a full time Realtor here in Santa Cruz and live here as well. I have recently researched the Measure O program and looked into other first time buyer and home owner assistance programs in the County. There is some good info out there and our local Santa Cruz Board of Realtors offers a HOA assistance program to those buying a home, where they help pay your HOA dues for 6-12 months.
Also, the Measure O program can offer you details at this city website: http://www.cityofsantacruz.com/index.aspx?page=994.
Click on the link that reference income and you will see a chart as to how much you can earn to qualify based on # of people per household.
I am working with a few buyers now that are looking to qualify for t, he Measure O program. Unfortunately, our county does not have enough affordable housing but certain programs are available and can offer assistance.
Your best is to call or go in person to the planning dept. at the city on Ocean St. and speak to a person about these programs.
Let me know if you need a Realtor and I can assist you in finding these homes and helping with your application(s).
You can contact me at: cell# 408-531-5542 or office$ 831-662-2486 or email: RobbieRealtor@gmail.com. Thanks and good luck learning more about Measure O.