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Quarterly Report for Housing Division Projects and Activities <br />May 3, 2022 <br />Page 2 <br />2 <br />6 <br />4 <br />9 <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 Home Repair Program is designed to increase, improve, and <br />preserve affordable housing through the use of federal Community Development Block <br />Grant (CDBG) funds. The program is administered by Habitat for Humanity of Orange <br />County on behalf of the City. The program provides grants of up to $25,000 for eligible <br />home repairs for low- and moderate-income homeowners at or below 80 percent of the <br />Area Median Income (AMI) as defined by the U.S. Department of Housing and Urban <br />Development (HUD). Eligible activities include the repair, replacement, and/or <br />installation of major systems including plumbing, heating, electrical, windows, roof, paint, <br />and handicap accessibility. A total of four rehabilitation projects were completed during <br />this quarter. <br />Down Payment Assistance Loan Program (DPAP) Progress <br />For the Down Payment Assistance Loan Program, staff evaluates applicant eligibility and <br />oversees underwriting to ensure compliance with program guidelines and requirements <br />established by HUD. During this quarter, staff conducted one down payment assistance <br />virtual workshop via Zoom, with a total of seven attendees. One down payment <br />assistance loan application was approved and closed escrow and one application was <br />denied. <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 third quarter, the principal balance was <br />$136,454,564.28. This is composed of 347 loans, of which 322 are deferred or residual <br />receipt payment loans. As shown in Table 2, the loan portfolio generated $959,256.23 in <br />payments of principal and interest during the third quarter. The amount of residual <br />receipts payments changes every quarter. <br />Table 2: Portfolio Revenue <br />Funding Source <br />HOME CDBG Redevelopment NSP CalHOME <br />Loan Payoffs $483,268.72 $302,984.35 $107,488.20 $0 $0 <br />Residual Receipts Payments $26,707.00 $0 $0 $0 $0 <br />Amortized Loan Payments $2,137.76 $13,872.70 $22,797.50 $0 $0 <br />Total for Q3 $512,113.48 $316,857.05 $130,285.70 $0 $0