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Quarterly Report for Housing Division <br />May 4, 2021 <br />Page 3 <br />6 <br />8 <br />5 <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 0 0 0 $10,491 0 <br />Residual Receipts Payments $220,969 0 $118,051 $47,271 0 <br />Amortized Loan Payments $2,885 $7,681 $19,149 0 $5,000 <br />Total for Q3 $223,855 $7,681 $137,200 $57,762 $5,000 <br />Monitoring <br />As part of the requirements for these funds, staff must monitor the owner-occupancy of <br />single-family homes that have received loans, and the building code compliance of units <br />in rental projects with long-term affordability covenants. During this quarter, 65 owner- <br />occupancy recertification letters were mailed and 49 were returned and processed. This <br />number includes letters sent from previous months. <br />On-site compliance monitoring of the tenant files was not conducted this quarter due to <br />COVID-19. HUD has temporarily waived the requirement for ongoing periodic inspections <br />of HOME-assisted rental housing through September 30, 2021. <br />Available Funds and Land Assets for Affordable Housing Development Projects <br />The City of Santa Ana and the Housing Authority acting as the Housing Successor <br />Agency manages multiple sources of local, state and federal funds to promote and <br />facilitate the development of affordable housing as well as land assets held by the <br />Housing Authority. Exhibit 1 provides a summary of the funds available as of March 31, <br />2021. Exhibit 2 provides a summary of available land assets. <br />Housing Opportunity Ordinance <br />On-Site Development: <br />Since 2011, a total of 33 units have been developed on-site as a result of the Ordinance, <br />including 23 ownership units for-sale and 10 rental units: <br />Units Built On-Site <br />Ownership Rental Total <br />23 10 33 <br />Regulatory agreements have been signed with two market rate developments that will <br />build 30 additional rental units on-site affordable to very-low income households. <br />In-Lieu Fees Generated: <br />All in-lieu fees, penalties and other monies collected pursuant to the Housing Opportunity <br />Ordinance, including interest, are deposited into the Inclusionary Housing Fund. Since