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Monthly Report for Housing Division <br />Projects and Activities May 2006 <br />August 7, 2006 <br />Page 3 <br />250 <br />200 <br />150 <br />100 <br />50 <br />0 <br />Chart 3 -Units underway <br />July August Sept. Oct. Nov. Dec. Jan. Feb_ March Apnl May June <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 June, the principal balance <br />was $33.68 million. This is comprised of 400 loans of which 299 were <br />deferred payment loans. One loan was completed in June, while 34 have <br />been paid off during the fiscal year. The loan portfolio has generated <br />$1,042,306 in program income from loan repayments since the beginning of <br />the fiscal year. Staff has completed an audit of all FY 04-05 loan <br />files. This included all Single Family Rehab loans completed in FY 04- <br />05. Staff has also began the monitoring of FY 05-06 files. <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 June, <br />the Division was responsible for monitoring 1,249 units. <br />Development Projects/Multi-Family Rehabilitation <br />Birch Street <br />On January 3, 2006, the Redevelopment Agency awarded a contract for the <br />construction of four California Bungalow style single-family homes in the <br />-M <br />