19I - QRTLY RPT HOUSING DIVISION

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Quarterly Report for Housing Division May 2, 2017 Page 3 During this quarter, staff conducted three down payment assistance workshops. A total of 250 people attended the workshops. On an annual basis, $200,000 in Community Development Block Grant funds are made available for down payment assistance. Loan Portfolio Management & Monitoring The Housing Division is responsible for managing the residential loan portfolio. As of the end of this quarter, the principal balance was $114,144,048. This is comprised of 425 loans of which 401 are deferred or residual receipt payment loans. As shown in Table 2, the loan portfolio generated $140,335 in payments of principal and interest during the quarter. Table 2: Portfolio Revenue Monitoring As part of the requirements for these funds, staff must monitor the owner - occupancy for single family homes that have received loans, and the code compliance of units in rental projects with long -term affordability covenants. During this quarter, 45 owner- occupancy recertification letters were mailed and 37 were returned and processed. Staff also audited files for 21 projects, and conducted code compliance inspections for 136 units in 8 projects. Regulations require that only a sample of units be selected for inspection. Staff also inspects the grounds and common areas such as laundry rooms to ensure they also meet municipal code requirements. The grounds, common areas and almost all of the inspected units were found to be in compliance at the time of initial inspection. Three smoke alarms and one carbon monoxide detector were inoperative. Additionally, two toilets were loose and two burners would not ignite properly. All of the deficiencies were immediately repaired and passed a re- inspection. Affordable Funds for Affordable Housing Development Projects The City of Santa Ana and the Housing Authority acting as the Housing Successor Agency manages multiple sources of local, state and federal funds to promote and facilitate the development of affordable housing. As of March 31, 2017, a total of $18,661,468 is available for affordable housing development. Exhibit 3 provides a summary of the funds available as of the end of this quarter. 191 -3 Funding Sources HOME CDBG Tax Increment NSP Loan Payoffs $0 $86,924 $0 $11,548 Residual Receipts Payments $0 $0 $0 $0 Amortized Loan Payments $7,414 $12,574 $21,875 $0 Total For Q3 $7,414 $99,498 $21,875 $11,548 Monitoring As part of the requirements for these funds, staff must monitor the owner - occupancy for single family homes that have received loans, and the code compliance of units in rental projects with long -term affordability covenants. During this quarter, 45 owner- occupancy recertification letters were mailed and 37 were returned and processed. Staff also audited files for 21 projects, and conducted code compliance inspections for 136 units in 8 projects. Regulations require that only a sample of units be selected for inspection. Staff also inspects the grounds and common areas such as laundry rooms to ensure they also meet municipal code requirements. The grounds, common areas and almost all of the inspected units were found to be in compliance at the time of initial inspection. Three smoke alarms and one carbon monoxide detector were inoperative. Additionally, two toilets were loose and two burners would not ignite properly. All of the deficiencies were immediately repaired and passed a re- inspection. Affordable Funds for Affordable Housing Development Projects The City of Santa Ana and the Housing Authority acting as the Housing Successor Agency manages multiple sources of local, state and federal funds to promote and facilitate the development of affordable housing. As of March 31, 2017, a total of $18,661,468 is available for affordable housing development. Exhibit 3 provides a summary of the funds available as of the end of this quarter. 191 -3