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Home My WebLink About03 YRENDHSGPROJ&ACT . Y~s;P ~}~f~ ..F le + ..I ~!I:. .+y ~ ' yhl M ` ~THRITI~ T~ sne aa~ner c:rr ~ ~ ~hukh{a Is~l f MEETING DATE: RE~~~I~V SECRETARY ~E ONLY: A~~U~ 18, 2008 TIT~.E: AP~R~VE YEAR-END REPORT H~U~ING ? A Recommended ? A Amended DI~T~~~N PR~~ET AND ATI~TITIE O~~INUED TO E~~T~1lE DIRET~R RE~~~IE~V~ED AT~~I Rcei~re and file . QNIl~~NITY REDE~IE~OPN~NT AND HOUSING ~~~?Il~II~N RECDN~+iENDAT~DN At ~.ts Regular N~eeting of ~ul~ ~5, ~D8, b~ a ~r~te of 4 : 0 ~~Tillasenor and Rena absent}, the om~.unity Redevelopment and Housing omission reco~mended that the Housing ~utharity receive and file this report. D~BUSSI~N This status report for fiscal gear ~OD7~D8 provides statistics for the affordable hou.~ng acti~rities of the Cit~r and the Comunity Redevelopment ~gene~, The report i di~rided into three sections: Loan Act~.~it~,~ Loan portfolio ~anagernent, and De~relopment ~ro~eets. Loan Aot~~r~ty ~pplicati.ons Ghat ~ Ap~lica~ions ~n~ The Housing Di~riion offers several different programs. The loans offered include first ~'€me Mobile Home f 1 r st ~ 1r~e hoebu~e ~ Ho mebuyer ~ 74 asslstanoe ~Rmerican Dream ~ 5~ Down-payment ~ss~,stance, "~DD~"} , rehab loans for owner occupied ~istor~.c single Tamil single family inglel=amity Rehab Year-End Report far Housing Division Pro~~~~ and activities August 1S, ~O~S Page ~ f ~.ng~. e tai ly, single family and mobi 1 e homes . There are dour different mobile home programs: Mobile Home Hardship Forgivable Loan Program, Federal Empowerment done Fargivable Loan Program, CalHome ~Iabile Home Rehab Loan Program, and calHo.e Replacement Loan Prog~a The Housing Di~.ion reviews applications to determine which program best fits the needs of the applicants. Applications are mailed cut and received for these programs on a continuing basis. chart 1 shows the number of applications sent out by type this fiscal year. - Loan Underwriting and approval Process ~n thus process, staff reviews applicant eligibility, verifies income and assets, oversees unde~`ritig, conducts an inspection of the unit, and prepares ~ work write up to determine rehabilitation work to be performed. Due to the complex funding ~'equireets and the applicant's - tir~ely submittal of the necessary paperwork, applications may be in underwriting for several months. once approved, staff prepares all necessary loan documents, mares arrangements for execution, and reser~res - the required lawn funds. ~ total of eight single fam~.l.y loans and eight mobile home rehab loans were appro~red in the ~0~7-08 fiscal year. Chaff 2 Loans Approval - - _ .~xt: l - _ ,.J... thti - `.1,. _ ,:..4V~' ::y. y~.ti ;~ti'~ j _ . - - - - :''C.'-:'.'. .'J - .;h, : j~~~..~,A.4 - - ixN ..r....,~.,.. :'i5 - a t ~ reflects the t{~-y' 1 - til h _ "~4::': „ l,~ ' YA _ x , i.!.. ::4-; - fe ~ number f 1 n - o oa a roved this - - :<w A - ~>:;s~ :~;h;:: •r~l~ir: ~ :'f.' M' ~~".'i. ::y~' •'•9;v - _ _ ,w,. "i;=- - ~:;c - _ _ f~.oal ear b t e of loan /1I ~ _ _ ~ ~ ~ ~„i. _ - Y.f.. ":%ti , ~ ~ ' w:,~, - - 301QAM1 _ _ _k. _ _ -,~~:t - = an ~.noor~o evel . l~t:r.4 .c4, ',',1 rr. .~'<v - ti~1tii iti~~,' 4'y1r :''7?"_ f'~_;';. ..,4afY.'.` r~:i4h .~,i tih,t .`,~3~ e~,r _ h:~~~.ti~..r:.c;'::;:. /f~ , 1'.~f:.~.h'~ o-titi~.~ - ti~~'l_J.4 - - _ ':'.4'J"}'t•. Yr: :.r~~-'. I S~r~gle i`amily Mobile dome M~bi~e Home ~~meh~yer ~ehahil~tat~on Replacement Reh~bilite~ior~ ~rog~am ions ~rutior~ Proses s During this phase, staff monitors the construction wog approves payments to contractors, and tracks expenditures to ensure they do not exceed available funds. Mu.tifamily protects often involve additional issues such as compliance with prevailing wage reguire~nents and~or Davis- Bacon. As of the end of the fiscal gear, there were a total of 195 units underway. I I I Year-End Report for Hauling Division Projects and activities August 18, X008 Page Loan Po~r~~olio Man~gm~t The Housing Diviszon is responsible for ensuring the integrity of the resident~.al lawn portfolio. As of the end of the fiscal year, the principal balanoe was $50,457,81. This is oomprised of 407 loans of which 3~8 were deferred or residual receipts payment loans. The loan portfolio generated $480,388 in repayments of princ~.pal and ~.nterest during the 20Q7-08 fiscal gear. ~~v~l~pmer~~ P~o~e~ts~~lti-Fam~.l~ R~a~ailita~io~ - Townsend and Raitt On January 7, X008, the pity Council and Community Rede~elopent Agency appra~red 5, ~1, 4~~ in loans to Townsend & Ra~.tt, LLC for acquisition and rehabilitation of five apartment buildings on Townsend and Raitt Streets. The buildings contain a total of 51 one bedroom apartment units, 50 of which are to be restricted to occupancy by very law-income households. The remaining unit was to be reserved for an onsite manager. The acquisition of 701 and 70~ Townsend was completed on February 15, 2008, and the rehabilitation work has begun. The estimated completion = date for these buildings is December X008. The acqu~.sition of 817 and 8~1 S. Rant and 84 . Rant was completed May 15, X005, and the rehabilitation work has not yet begun. As of yet, there ~.s no estimated r completion date for these buildings. ~ilshirelMinnie ~n December 18, ~00~, the City Council and Comr~unity Redevelopment Agenoy - approved 7,9~7,1Q9 in bands and $10X50,000 in loans to wilshire~Minn~.e, L.P far acquisition and rehabilitation of 17 apartment buildings on Wilshire and Minnie Streets. The original 1~ units were to be converted into 144 Dne, two, three and four bedroom units, with 143 of the units restricted to low and very law-income households. The regaining unit was to be reserved for an onsite manager. Rehabilltatlon of sip of the f buildings has been completed, and they are being leased up in accordance with the of fordab~.lity restrictions . `the entire proj eet is scheduled to be completed by March X009. Ras~Durant an ~Tanuary 3, ~00~, the City Council and Cor~.munity Redevelopment Agency approved $2,181,200 in bonds and $5,050,844 in loans to Ross & Durant, L.P. for acquis~.tion and rehabilitation of the apartment complexes located at 1411 Durant and 1501 I~. Ross. The buildings were comprised i I earyEnd Report far Housing Diva.sian Projects and Activities August 1 ~0~8 Page 4 of studio apartn~ez~ts, and they were to be converted into 49 ana, two and three bedroom units, of these, 48 were to be restricted to very low- and ~.a~u-~incom.e household a~ a.f fordable rent . The remaining unit was ~a be reserved for an ar~s~,te manager. All wank has been car~pleted, and the s bul.~.dings have been leased up in accordance w~.th the affordability requirements. Raitt street Infili site civic center Barria Hauling carparatio~ has seleoted a project architect, Lim chang Roh~.ing and Assaoiates, and an agreement to fund the design of the project was approved by the City council February ~~7. Upcoming milestones include the preparat~.an of a site surrey, development of an acceptable site plan, pro forma a~.d construction post estimate. This material will form the basis of a Disposl.tion and Development ~.greement - ~DDA}, which is anticipated to be considered in January of ~~~9. 10 ~ ~ Black of Logan The Logan infil.l project consists of three vacant Iats located at 10~~, 101, and 101 North Logan streets grange County commur~l,ty Hauling - Corparation ~DCCHC~ has now reached an agreement with the Planna.ng and Building Agency cancer~,ing site plays, elevation and facades of the three single family domes to be developed an these lots. A full cast analysis is raw complete. CccHC, their partners at Taller fan dose and staff are curre~.tly ~.egotiating terms to be ir~corparated into a DDA. staff . anticipates bringing the DDA to the Redevelapmen.t Agency for approval in - the August of RsT~McFaddez~ staff is currently r~egotl.ating the development of two parcels at the corner of N~cFadden and ar~.nge with The Ran Simon Education and Hauling - Foundation. This is a pilot project which will demonstrate that haves can be built in an expedited a~,d efficient manner with bel.aw market construction casts. staff anticipates bri~.ging a DDA to the Redevelopment Agency in septernber ~~OS. Birch Infill Project The Birch infill project consists of four vacant l.ats located at the 2DO and 400 blacks of Birch in the Heninger Park Nelghborhaad. A total. of faur single family homes will be built. The plans have already been approved and al.l e~.viranmental clearances have been obtained. Agency staff is currently exploring development options, I Year-End Report far ~ouing Di~i~~.on P~o~eots and Activities August 1S, 2~~8 Page 5 N~u~.ti-Site Infill T1~e City Council has authorized staff to enter into negatiatians with The Dlon Company for the de~re~.opr~ent of ~.ngie fan~.ily hoes on o~ttered infill lots throughout the City. Staff is continuing to work with The Olson company far the submittal of site plans and finalization of the budget. Staff ~nt~olpates bringing a DDA to the Rede~relopment Agency for consideration in October 2008. FIAL ~N~P~T `here is no fiscal i~.pact associated with this action, ell Landry ayle Housing Manager ~ommun~.ty ~e~relop.ent Agency CJNISLB1sr = 5 I I