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Monthly Report for Housing Division <br />Projects and Activities - April 2006 <br />June 5, 2006 <br />Page 2 <br />Empowerment Zone Forgivable Loan Program, CalHome Mobile Home Rehab Loan <br />Program, and CalHome Replacement Loan Program. The Housing Division <br />reviews applications to determine which program best fits the needs of <br />the applicants. Applications are mailed out and received for these <br />programs on a continuing basis. Chart 1 shows the number of applications <br />sent out by type this fiscal year. <br />Loan Approval Process <br />Staff reviews applicant eligibility, <br />verifies income and assets, oversees <br />underwriting, conducts an inspection of the <br />unit, and prepares a work write up to <br />determine rehabilitation work to be <br />performed. Once approved, staff prepares <br />all necessary loan documents, makes <br />arrangements for execution, and reserves the <br />required loan funds. Chart 2 shows the <br />number approved during this fiscal year by <br />program type. This represents a total <br />amount of $8,556,402 for projects. <br />Construction Process <br />During this phase, staff monitors <br />the construction work, approves <br />185 <br />payments to contractors, and <br />180 <br />tracks expenditures to ensure they <br />155 <br />do not exceed available funds. <br />150 <br />Multifamily projects often involve <br />145 <br />additional issues such as <br />140 <br />compliance with prevailing wage <br />135 <br />requirements and/or Davis -Bacon. <br />130 <br />Chart 3 shows the number of <br />125 <br />projects underway during each <br />120 <br />month of the fiscal year. <br />Chart 2 Units Approved <br />MF Rehah 79 <br />MH <br />Chart 3 -Units Underway <br />July August Sept. Oct. Nov. Dec. Jan. Feb. March April <br />IM <br />