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Monthly Report For Housing Division <br />Projects and Activities - September 2006 <br />November 6, 2006 <br />Page 3 <br />Construction Process <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. Chart 4 shows the types of units under construction. As of <br />September, there were a total of 118 units underway. <br />940 <br />120 <br />100 <br />80 <br />60 <br />40 <br />20 <br />0 <br />Chart 4 Units Underway <br />July August Sept <br />Loan Portfolio Management <br />p MH Replacement <br />I l Rental Units <br />E <br />p SF Rehab <br />® MH Rehab <br />The Housing Division is responsible for ensuring the integrity of the <br />residential loan portfolio. As of September, the principal balance was <br />$33.8 million. This is comprised of 397 loans of which 300 were deferred <br />payment loans. The loan portfolio generated $100,558 since the beginning <br />of this fiscal year. <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 health and safety <br />requirements. Monitoring includes case file review, unit inspections, <br />non-profit certifications and onsite auditing. During this fiscal year, <br />the Division will be responsible for monitoring 1,249 units. <br />