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Housing Division Quarterly Report <br />November 15, 2022 <br />Page 2 <br />3 <br />0 <br />6 <br />5 <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- and moderate-income homeowners at or <br />below 80% of the Area Median Income (AMI) as defined by the U.S. Department of <br />Housing and Urban Development (HUD). Eligible activities include the repair, <br />replacement, and/or installation of major systems including plumbing, heating, <br />electrical, windows, roof, paint, and handicap accessibility. A total of eighteen (18) <br />rehabilitation projects were completed during this quarter. <br />Down Payment Assistance Loan Program (DPAP) Progress <br />For the Down Payment Assistance Loan Program, staff evaluates applicant eligibility <br />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 57 attendees. Three (3) <br />down payment assistance loan applications were approved and three (3) closed <br />escrow. <br />Staff conduct monthly workshops together with NeighborWorks Orange County every <br />second Tuesday of the month. In addition to these workshops, staff participated in the <br />Vietnamese National Association of Real Estate Professionals (VNARP) <br />Homeownership Fair on August 11, 2022 at the Garden Grove community <br />center. During the event, staff participated on a panel with other organizations that <br />provide first-time homebuyer assistance. Staff answered questions, provided staff <br />contact information, and assisted with applications as needed with the public in <br />attendance. On August 25, 2022, staff attended Madison Elementary Back to School <br />Night in Santa Ana. Staff answered questions and provided parents and attendees with <br />information about the program. On August 27, 2022, staff participated in a Home Buyer <br />Expo at HPT Realty & Finance offices, in partnership with VNARP, in the City of <br />Westminster. These activities for our Down Payment Assistance Loan Program are <br />supplemented by a current 6-unit affordable homeownership project that staff is <br />negotiating with Habitat for Humanity. <br />Loan Portfolio Management and 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 first quarter, the principal balance was