Agenda Packet_2022-11-15 - Laserfiche WebLink

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Housing Division Quarterly Report November 15, 2022 Page 2 Loan Subordinations 0 0 0 0 0 0 0 0 The number of applications received is typically lower than the number of applications sent out in any given period due to the stringent program guidelines for eligibility regulated by the federal government, which makes it difficult for most applicants to qualify. The City of Santa Ana's Residential Rehabilitation Grant Program is designed to improve and preserve affordable housing through the use of federal Community Development Block Grant (CDBG) funds. The Program is administered by Habitat for Humanity of Orange County on behalf of the City. The program provides grants of up to $25,000 for eligible home repairs for low- and moderate -income homeowners at or below 80% of the Area Median Income (AMI) as defined by the U.S. Department of Housing and Urban Development (HUD). Eligible activities include the repair, replacement, and/or installation of major systems including plumbing, heating, electrical, windows, roof, paint, and handicap accessibility. A total of eighteen (18) rehabilitation projects were completed during this quarter. Down Payment Assistance Loan Program (DPAP) Progress For the Down Payment Assistance Loan Program, staff evaluates applicant eligibility and oversees underwriting to ensure compliance with program guidelines and requirements established by HUD. During this quarter, staff conducted three (3) down payment assistance virtual workshops via Zoom with a total of 57 attendees. Three (3) down payment assistance loan applications were approved and three (3) closed escrow. Staff conduct monthly workshops together with NeighborWorks Orange County every second Tuesday of the month. In addition to these workshops, staff participated in the Vietnamese National Association of Real Estate Professionals (VNARP) Homeownership Fair on August 11, 2022 at the Garden Grove community center. During the event, staff participated on a panel with other organizations that provide first-time homebuyer assistance. Staff answered questions, provided staff contact information, and assisted with applications as needed with the public in attendance. On August 25, 2022, staff attended Madison Elementary Back to School Night in Santa Ana. Staff answered questions and provided parents and attendees with information about the program. On August 27, 2022, staff participated in a Home Buyer Expo at HPT Realty & Finance offices, in partnership with VNARP, in the City of Westminster. These activities for our Down Payment Assistance Loan Program are supplemented by a current 6-unit affordable homeownership project that staff is negotiating with Habitat for Humanity. Loan Portfolio Management and 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 Hous,ong Agenry AS of the Pnd of the first niiartPr the rn inripal halanrP was City Council 8-2 11/15/2022