19D - RECEIVE AND FILE QRTLY PROJECTS

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Quarterly Report for Housing Division December 1, 2020 Page 3 Loan Portfolio Management & Monitoring The Housing Division is responsible for managing the residential loan portfolio which includes all of the loans entered into by the City and Housing Authority acting as the Housing Successor Agency. As of the end of the first quarter, the principal balance was $136,764,166. This is comprised of 368 loans, of which 344 are deferred or residual receipt payment loans. As shown in Table 2, the loan portfolio generated $24,363 in payments of principal and interest during the first quarter. The amount of residual receipts payments changes every quarter. Table 2: Portfolio Revenue Funding Source HOME CDBG Redevelopment NSP CalHOME Loan Payoffs $0 $74,108 $0 $10,150 $10,000 Residual Receipts Payments $0 $0 $0 $0 $0 Amortized Loan Payments $2,521 $6,371 $15,471 $0 $0 Total for Q3 $2,521 $80,479 $15,471 $10,150 $10,000 Monitoring As part of the requirements for these funds, staff must monitor the owner -occupancy of single- family homes that have received loans, and the building code compliance of units in rental projects with long-term affordability covenants. During this quarter, 26 owner -occupancy recertification letters were mailed and 22 were returned and processed. This number includes letters sent from previous months. On -site compliance monitoring of the tenant files was not conducted this quarter due to COVI D-19. HUD has temporarily waived the requirement for ongoing periodic inspections of HOME -assisted rental housing through December 31, 2020. Prior to all inspections being put on -hold due to COVID-19, staff conducted building code compliance inspections for 113 units on seven properties, which represents a sampling of 36% of the total units in the properties. Regulations require that only a sample of units be selected for inspection. Staff also inspects the grounds and common areas, such as laundry rooms, to ensure they also meet municipal code requirements. The grounds, common areas, and all of the inspected units were found to be in compliance at the time of initial inspection. Available Funds and Land Assets for Affordable Housing Development Projects The City of Santa Ana and the Housing Authority, acting as the Housing Successor Agency, manages multiple sources of local, state, and federal funds to promote and facilitate the development of affordable housing as well as land assets held by the Housing Authority. Exhibit 1 provides a summary of the funds available as of September 30, 2020. Exhibit 2 provides a summary of available land assets. Housing Opportunity Ordinance 19 D-3