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Home My WebLink About03 QTRLYRPTHSGDIVPROJACT I - k 'j ` ' MI '4 11 ~it;~ r c~~ucGx~.r l• 4 ua,rl~.r.r I y , ~ ? I ~a~..a 1M1 O4l'J fN CITY ~EETIh DATE: RE~RDIN ERETA~Y ~E DNLY; 2, 2~a9 TITLE: A~P~~vED QUARTERLY REPORT FQR F~O~IN A~ Recorr~mend~d _ ~I~II~ FR~~ECT ANA ~CTI~TITIE As ~?me~d~d S ~~~TlNU~~ T~ E~CEUTIV ~ ET~R ~E~~~E~VDED ATI~N Rece~.~e and file . - ~~NTNITY RE~7EVEL~PMEfi ANI~ H~INC ~NiII~I~ RE~~NS~END~TIQN its Regular Meeting of October 20, ~0~ b~ a vote of ;1 ~~Tillaeno~ abt~ined} , the comr~un~.t~r Redevelopment end Housing ~omm.ision recamr~ended that the Hou~s~.ng Authority recei~re and file the ~u~rte~'1~r Report for Housing Di~i~.on Prod ect and Act~.~ritie . DI~CUI~N This status report for the quarter ending on September Q, ~00~, provides statistics for the day-to-dad ~.ffordable housing act~.~ities of the its and the Oommunity Rede~relopment Agency. The report is divided into three ectlons ; Loan Acti~rit~, Loan Portfola~o Management, and ~eveiopment Projects. Charts Apli~ationen~# Lean At~.v~ t I Applications ~~bi~eH~me ~3 The Housing Services D~.vision offers Y } several different programs. The ~.oans - offered include homebu er don ~ ent ~ ~ ~ p Y Hom~~uyer - _ . ass,~stance and rehab loans for historic Dow~payrrt _ sin le f~mil sin le far~il and mobile Assista~ce4s - , _ • . i~gleFami~y ~ ~r ~ ~ Re~~b ~2 homes. Mobile home loans are offered a ~o~gz~rab~.e grants, and are used to cover ~~::t~ i uarterl~r Report far ~Iausir~g . Divisian Pray ects and Activ~.t~.es November X009 gage ~ the cost of essential repairs. The Mousing Division reviews applications to determine whi.ah program best f its tie needs of the app~.~.oants , ~ppliaatians are mailed cut and ~eoeived far these programs on a continuing basis. Chart 1 shows the number a~ applications sent out b - t~pe during the first quarter of the fiscal gear. Loan Underwr~.ting and ppraval Process ~n this p~ooess, staff reviews applleant e.igibilit~, verifies income and assets, oversees underwriting, conducts an inspeot~.on of the unit, and prepares a work wr~.te up to determine rehabilitation work to be performed. Due to the complex funding requirements, applicants mar be in underwrit~.ng for several months. It ~.s large~.y determined by the applicant's timely subr~itta~. of the necessary paperwork. Dnoe approved, staff p~cepares all necessar~r loan documents, makes arrangements far execution, and reserves the required lawn funds. Twa mobile have rehabilitation loans were approved during the first quarter of the fiscal gear. bath were made to household with income below 5~ percent of the 4-- area median. Construction Pracess i 5 During this phase, staff ~nanito~s the construction work, appra~res patents to oantractors, and tracks expenditures to ensure they do not exceed available funds . N~uitifamil~r projects often ivol.ve additional issues such as compliance with prevai~.ing wage requirements and~ar Davis- Baoan. ~s of September 0, 2D~9, and inolud~.ng the multifamily units, there were total of 2a units underway, ~oar~ ~o~~f~li~ M~n~g~mnt The dousing Division is responsible far ensuring the integrit~r of the residential loan port~alio, ~s of the end o~ the f fiscal dear, the principal balance was ~1,41~,~4~. This is comprised of 419 loans of which ~4 are deferred or residual x~eoeipts pa~rment lawns. The lawn partfo~.io generated 7~, X89 in repayments of principal and interest far the quarter end~.ng September 2a~9. ~evelop~en~ Proje~/Mul~i-Family R~~bilit~t~.vrt Townsend and Rant The its Coun.oil and Community Redevelopment agency have approved loans . to orange Hauling Develapme.t Corporation ~aHDC~ and C&C Development ~C&C~ for acquisition and rehabilitat~.on of six apartment bu~.~.dins in 1s"'i°~ i quarterly Report for Housing Division Projects and Activities November ~~~9 Page 3 the Ta~uns~nd and Raitt area. Rents are to b restricted to those affordable to extremely law and very l.ow-~.noome households . Four of the six buildings are now complete, as is community center. The rehabilitation word is underway on one of the two remaining buildings. 7~ North Lacy The City Council and Community Redevelopment Agency have approved loans to OHD and ~&C for acquisition and rehabilitation of ~5 unit building at 7D earth Lacy, Rents are to be restricted to those affordable to e~trer~ely low- and very law-income households. The project has closed escrow, and construction is underway. NSP Program The City received 5,75,x.55 in Ne~.ghborhood Stabili~atian Program {NP} funds which is intended to target and stabilize communities hardest hit with foreclosures. Five NSP programs were created, including a Dawn Payment Assistance Program, Redevelopment Program, Sing~.e-Family Acquisition-Rehabilitation Program, Historic/Condomin~.u~n Acqu.isition- Rehabilitatian Program and ~ I~u~.tifa~n~.ly Acquisition-Rehabilitation Pragrar~. As of September 0, we have obligated and drawn down ANR Homes, Inc., the lntermedlary selected to lmplement hameawnerh~p programs including the Single Far~ily and Histor~.c~Condo, is responsible far the acqu~,~.tion, rehabilitation and resale of the foreclosed units. These homes gill be sold to families with incomes up to 12~ percent of the area median {AMI } . To date, there are 12 sing~.e - f an~~.ly homes in var.~ous stages of acquisition, rehabilitation, or resale that will be - sold to qualifying families. OHDC was selected far the implementation of the l~ultifar~ily Acquisition~Rehab Program. To date, ~H~C has acquired ~ 14-unit multi- family property on Durant Street. These units will be targeted to households at or below percent A~II and wi1.l help the City meet the requirement that at least 5 percent of its NP funds be spent to assist very ~.aw-incam.e households. Raitt Street Inf ill Site civic Center arria Hous~.ng Corporation ~CCBHC} is proposing to construct an 11-unit affordable housing project comprised of three triplexes and - two sa.ngle family units. The project will be integrated with CCBHC's existing 1~-unit development to the earth. Plans are proceeding through the City's site plan review process, while the developer continues i quarterly Report far Hauling Bivisian Praj ects and Acta~rities l~o~rember ~ ~ ~ Page 4 prafax~ma preparation and lender negatiatians. This material gill farm the basis of ~ Dispasatiaz~ and Development Agreement {DDA~, which is ~ntiaipated to be considered in X010. 1 ~ ~ ~ B~.oc~ of Worth Lagan The pagan infill pray eat consists of the de~relapment of three sing~.e f~~nily haves. Orange Jaunty ~ammunity Hauling arporation and its general oontr~etor, Tiller can base, commenced canstructian in ~7ecember BOOS. The homes gill be sold to first-time hamebuyers with incomes at ar below 80 percent of the area median. The three-bedroom home will sell for X170,000, and the two, four-bedroom homes will sell for X175,000 each . Twa war}~shaps far prospect ire buyers were head in dune of 2 0 0 , and a lottery was conducted an Saturday, duly 11, ~0D9, to select the hamebuye~s. anstruation far all three homes is complete. Buyers have been selected end are being qualified far the lams necessary to purchase the homes. RI /NIoF~dden On ~'anuary ~~~9, the ~.~ty Council and Oammunity Redevelapn~ent Agency approved a D]~A with RsI McFadden, LLC for de~relapment of two parae~.s a.t the corner of McFadden and arange. The project consists of two single family reszdenees, one being a 1,G8 square feet, 4-bedraom Name, and the other a 1,21 square feet, ~-bedraom have. The han~es were constructed an 15 days and will be Bald through a lottery process to be held at a future date. They are currently being used as ~ shawc~se to other cities for the praotio~lity of the inno~rata~re eor~structa.an teahnaques used by RSI. scattered sates FQ - The Housing Division has prepared a Request far Qualifications ~RFQ} for the de~relament of twelve sates throughout the City. The maj arity of the sites were acquired through ~rarious street end freeway a.mpra~rement projects. This RFQ will include the properties lac~ted at X17-~1 and 435-437 south Birch. Far these properties, staff commissioned conceptual site plans that feature a development approach that maximizes their use and is compatible with the neighborhood. The site plans propose dup~.exes on each of the lots which will decrease the per unit cost. The RFC process was ~.n~.ta~ted by distribution of a letter to mare than ~ 0 ~ de~relopers on October 9, ~ ~ 0 9 . Those interested r~~.y download the RFQ from the City' s web site ar contact the Hauling D1V'lsla~l for copy. ~ - pre-submission oanference was scheduled far October 20, X009, at 10 a.m. statements of Qualification are due l~avember X009, ~t Haan, y I ~uarte~ly R~po~t for Housing Divi~.o P~oj efts and ~oti~riti No~rembe~ 2 D Q 9 Pago 5 FI ~,L IP~iC~' There i~ r~o f~.al in~paot asoc~.at~~ Frith t~s action. h~.~.y andry-- y Hou~.n M~n~gr Community De~r~lop~ont Agency CJ~/~,~/~~~/r t x~'~ y