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Monthly Report for Housing Division <br />Projects and Activities - July 2006 <br />September 5, 2006 <br />Page 3 <br />Construction Process <br />During this phase, staff monitors the <br />construction work, approves payments <br />to contractors, and tracks 120 <br />expenditures to ensure they do not <br />exceed available funds. Multifamily 100 <br />projects often involve additional so <br />issues such as compliance with <br />prevailing wage requirements and/or 60 <br />Davis -Bacon. Chart 3 shows the number 46 <br />of projects underway during each month <br />of the fiscal year. There are 20 <br />currently 112 units underway. 0 <br />Loan Portfolio Management <br />Chart 3 - Units Underway <br />The Housing Division is responsible for ensuring the <br />residential loan portfolio. As of the end of July, the <br />was $33.6 million. This is comprised of 402 loans <br />deferred payment loans. The loan portfolio generated <br />month of July. Staff has completed an audit of all FY <br />Compliance Monitoring <br />July <br />integrity of the <br />principal balance <br />of which 302 were <br />$58,763 during the <br />04-05 loan files. <br />Over the years, the City and Agency have received funds <br />State and Federal programs. These funds each have specific <br />and requirements. The Division is responsible for ensur <br />projects are in compliance with these requirements and tr <br />meet the City's municipal code as it relates to healt] <br />requirements. Monitoring includes case file review, unit <br />non-profit certifications and onsite auditing. During this <br />the Division will be responsible for monitoring 1,249 units. <br />Development Projects/Multi--Family Rehabilitation <br />McFadden Infill Site {between Made and Oranue Streets <br />from various <br />restrictions <br />_ng that the <br />it the units <br />and safety <br />inspections, <br />fiscal year, <br />Staff completed work with an architect to develop conceptual plans. <br />Initially, this site was to be developed independent of the other vacant <br />lots. In an effort to develop all the vacant lots in a timely manner, <br />M <br />