My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
19D - QRTLY RPT HOUSING
Clerk
>
Agenda Packets / Staff Reports
>
City Council (2004 - Present)
>
2014
>
11/18/2014
>
19D - QRTLY RPT HOUSING
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/13/2014 6:33:56 PM
Creation date
11/13/2014 3:30:12 PM
Metadata
Fields
Template:
City Clerk
Doc Type
Agenda Packet
Agency
Community Development
Item #
19D
Date
11/18/2014
Destruction Year
2019
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
6
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Quarterly Report for Housing Division <br />Projects and Programs <br />November 18, 2014 <br />Page 3 <br />agency, be pre - qualified for a first mortgage and have a minimum of three percent of the <br />purchase price from their own savings. Other HUD requirements apply, including a current <br />maximum sales price of $390,000 for a single family home or condo or $443,000 for a newly <br />constructed condo or home. Additionally, the property needs to be in good condition and pass an <br />inspection by staff. <br />Loan Portfolio Management & Monitoring <br />The Housing Division is responsible for ensuring the integrity of the residential loan portfolio. As <br />of the end of this quarter, the principal balance was $108,979,734. This is comprised of 439 <br />loans of which 418 are deferred or residual receipt payment loans. As shown in Table 2, the loan <br />portfolio generated $379,625 in payments of principal and interest during the quarter: <br />Table 2: Portfolio Revenue <br />Monitoring <br />As part of the requirements for these funds, staff must monitor the owner - occupancy for single <br />family homes that have received loans, and the code compliance of units in rental projects with <br />long -term affordability covenants. During this quarter, 26 owner occupancy recertification letters <br />were mailed; 23 were returned and processed. <br />Staff conducted code compliance inspections for 47 units in six projects. Regulations require that <br />only a sample be selected for inspection. Staff also inspects the grounds and common areas to <br />ensure they also meet code requirements and property standards adopted by the City of Santa <br />Ana. The majority of the inspected units as well as the grounds and common areas were found <br />to be in compliance at the time of initial inspection. Some of the units had deficiencies including <br />loose toilets, inoperative bumers, faulty GFCI outlets, inoperative smoke alarms and carbon <br />monoxide detectors. All of the deficiencies were repaired and the units were found to be in <br />compliance at the time of the subsequent re- inspection. <br />19D-3 <br />I 't Quarter <br />Total FY <br />Loan Payoffs <br />$334,669 <br />$334,669 <br />Residual Receipts Payments <br />0 <br />0 <br />Amortized Loan Payments <br />$44,956 <br />$44,956 <br />Total <br />$379,625 <br />$379,625 <br />Monitoring <br />As part of the requirements for these funds, staff must monitor the owner - occupancy for single <br />family homes that have received loans, and the code compliance of units in rental projects with <br />long -term affordability covenants. During this quarter, 26 owner occupancy recertification letters <br />were mailed; 23 were returned and processed. <br />Staff conducted code compliance inspections for 47 units in six projects. Regulations require that <br />only a sample be selected for inspection. Staff also inspects the grounds and common areas to <br />ensure they also meet code requirements and property standards adopted by the City of Santa <br />Ana. The majority of the inspected units as well as the grounds and common areas were found <br />to be in compliance at the time of initial inspection. Some of the units had deficiencies including <br />loose toilets, inoperative bumers, faulty GFCI outlets, inoperative smoke alarms and carbon <br />monoxide detectors. All of the deficiencies were repaired and the units were found to be in <br />compliance at the time of the subsequent re- inspection. <br />19D-3 <br />
The URL can be used to link to this page
Your browser does not support the video tag.