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Monthly Report for Housing Division <br />Projects and Activities --- May 2006 <br />July 3, 2006 <br />- Page 2 <br />Program, CalHome Mobile Home Rehab Loan Program, and CalHome Replacement <br />Loan Program. The Housing Division reviews applications to determine <br />which program best fits the needs of the applicants. Applications are <br />mailed out and received for these programs on a continuing basis. Chart <br />1 shows the number of applications sent out by type this fiscal year. <br />Loan AloDroval Process <br />Staff reviews applicant eligibility, <br />verifies income and assets, oversees <br />underwriting, conducts an inspection of <br />the unit, and prepares a work write up <br />to determine rehabilitation work to be <br />performed. Once approved, staff <br />prepares all necessary loan documents, <br />makes arrangements for execution, and <br />reserves the required loan funds. Chart <br />2 shows the number approved during this <br />fiscal year by program type. This <br />represents a total amount of $8,428,789 <br />for projects. <br />Construction Process <br />Chart 2 Units Approved <br />During this phase, staff monitors the construction work, approves <br />payments to contractors, and tracks expenditures to ensure they do not <br />exceed available funds. Multifamily projects often involve additional <br />issues such as compliance with prevailing wage requirements and/or Davis - <br />Bacon. <br />Chart 3 shows the number of projects underway during each month of the <br />fiscal year. There are currently 213 units underway. <br />