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Monthly Report for Housing Division <br />Projects and Activities - May 2006 <br />August 7, 2006 <br />Page 2 <br />Forgivable Loan Program, Federal Empowerment Zone Forgivable Loan <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 A�)­oroval Process <br />Staff reviews applicant eligibility, <br />verifies income and assets, oversees <br />underwriting, conducts an inspection <br />of the unit, and prepares a work write <br />up to determine rehabilitation work to <br />be performed. Once approved, staff <br />prepares all necessary loan documents, <br />makes arrangements for execution, and <br />reserves the required loan funds. <br />Chart 2 shows the number approved <br />during this fiscal year by program <br />type. This represents a total amount <br />of $8,566,654 for projects. <br />Construction Process <br />Chart 2 Units Underway <br />MH <br />Replacement <br />MH Rehab 13 <br />MF Rehab 79IX <br />SF Owner <br />Occupied 1 <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 117 units underway. During this fiscal <br />year, a total of 168 units were completed. This comprised of 147 multi- <br />family, 5 single family, 15 mobile home rehabilitations and 2 mobile home <br />replacements. <br />