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Monthly Report for Housing Division <br />Projects and Activities - May 2006 <br />July 3, 2006 <br />Page 3 <br />250 <br />200 <br />?60 <br />100 <br />50 <br />0 <br />Chart 3 -Units Underway <br />July August Sept. Oct. Nov. Dec. Jan. Feb. March April May <br />Loan Portfolio Management <br />The Housing Division is responsible for ensuring the integrity of the <br />residential loan portfolio. As of the end of April, the principal <br />balance was $33.69 million. This is comprised of 400 loans of which 298 <br />were deferred payment loans. Three loans were completed in May, while 33 <br />have been paid off during the fiscal year. The loan portfolio has <br />generated $996,148 in program income from loan repayments since the <br />beginning of the fiscal year. Staff has completed an audit of all FY 04- <br />05 loan files. This included all Single Family Rehab loans completed in <br />FY 04-05. <br />Compliance Monitoring <br />Over the years, the City and Agency have received funds from various <br />State and Federal programs. These funds each have specific restrictions <br />and requirements. The Division is responsible for ensuring that the <br />projects are in compliance with these requirements, and that the units <br />meet the City's municipal code as it relates to public health and safety <br />requirements. Monitoring includes case file review, unit inspections, <br />non-profit certifications and onsite auditing. As of the end of April, <br />the Division was responsible for monitoring 1,249 units. <br />M <br />