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Housing Division Quarterly Report <br />February 7, 2023 <br />Page 2 <br />3 <br />2 <br />1 <br />9 <br />Homeownership / Down <br />Payment Assistance <br />Program <br />65 96 65 96 3 8 3 6 <br />Loan Subordinations 0 0 0 0 0 0 0 0 <br />The number of applications received is typically lower than the number of applications <br />sent out in any given period due to the stringent program guidelines for eligibility <br />regulated by the federal government, which makes it difficult for most applicants to <br />qualify. <br />The City of Santa Ana’s Residential Rehabilitation Grant Program is designed to <br />improve and preserve affordable housing through the use of federal Community <br />Development Block Grant (CDBG) funds. The Program is administered by Habitat for <br />Humanity of Orange County on behalf of the City. The program provides grants of up <br />to $25,000 for eligible home repairs for low-income homeowners at or below 80% of <br />the Area Median Income (AMI) as defined by the U.S. Department of Housing and <br />Urban Development (HUD). Eligible activities include the repair, replacement, and/or <br />installation of major systems including plumbing, heating, electrical, windows, roof, <br />paint, and handicap accessibility. A total of one (1) rehabilitation project has been <br />completed during this quarter. <br />Down Payment Assistance Loan Program Progress <br />For the Down Payment Assistance Loan Program (DPAP), staff evaluates applicant <br />eligibility and oversees underwriting to ensure compliance with program guidelines and <br />requirements established by HUD. During this quarter, staff conducted three (3) down <br />payment assistance virtual workshops via Zoom with a total of 73 attendees. Three (3) <br />down payment assistance loan applications were approved and two (2) closed escrow. <br />One application will close escrow in early January. <br />Staff conduct monthly workshops together with NeighborWorks of Orange County <br />every second Tuesday of the month. In addition to these workshops, staff participated <br />in two workshops with real estate professionals in collaboration with NeighborWorks of <br />Orange County. In total, 34 professionals attended the workshops to get information on <br />how to assist their clients with moving forward with the City’s down payment assistance <br />program. <br />Loan Portfolio Management & Monitoring <br />The Housing Division is responsible for managing the residential loan portfolio, which <br />includes all of the loans entered into by the City and Housing Authority acting as the <br />Housing Successor Agency. As of the end of the second quarter, the principal balance <br />was $144,841,882. This is comprised of 344 loans, 319 of which are deferred or <br />residual receipt payment loans. As shown in Table 2, the loan portfolio generated <br />$369,210.43 in payments of principal and interest during the second quarter. The <br />amount of residual receipts payments changes every quarter.