HomeMy WebLinkAbout04 MthlyRptHsgDivProjActREQUEST FOR HOUSING
AUTHORITY ACTION
~EETIN SATE:
AP~tIL OD7
T~T~.E:
M~~T~LY REPORT F~1~ I~~I
DI~II~ PR~CT STD CTI~TITIE
- FEBRTJARY ~ ~ 4 7
^ A Recom~er~ded
^ As Amended
CONT~~~ED T~
CUTIVE 1RECTOR
RECOMMENDED ACTION
Re~el~e and File.
~~N1~IU~~TY REDEVELOPMENT ADD SOUS I ~MMI I~I~ RE~~NIl~ND~iT ~ ON
-- - nr
~t its Regular Meeting of Sarah ~~, X007, the ammunit~ Rede~relop~e~t and
I~oui~g commission reaar~nended that the Haus~.~g Autharit~ re~ei~re and
file this report bar a gate of ~ : ~ ~ ~edro~a absent ~ .
DIO~ION
`the ~`ebruar~ 2007 onthl~r status report provides statistics for the day-
to-day affordable hauling aet~.~ritie of the pity and the ~ommunit~
Rede~relapmet ~gen.c~. The report is di~rided inta faur seotions : Loan
~otivity, Haan Partfolia 1~anage~nent, Camplia~oe Monitoring, and
~e~relopment Pray cots . ~s the fiscal dear ~ Ju1~ ~ ~- dune 0 } progresses
the graphs will reflect the increased activities.
~~an ~tivit~
~lpplioations
~`he ~Iausing er~ioes Division offers
several different programs. The loans
offered inolude first time hamebuyer
assistance ~erican Dream Down-pa~rment
Assistance, "ADDS"}, rehab loans far
owner occupied hi~sto~io single ami1,
single family and mobile hones. There
RE~~D~N~ ERET~Y USE ONLY:
APP~VED
Chat ~
A~a~ ~~
i~~~~
Family fi
labile
Flame 98
r
7'
~+~k%!
~~
Monthly Report
And Activities
April 2, 0~7
Page
For Housing Division Prod ects
~- February ~~~7
are four different mobile home programs; Mobile Home Hardship Forgivable
Loan Program, Federal Fmpoer~nent Zone Forg~.~rable Loan Program f Ca1Ho~ne
Mobile Home Rehab Lean Program, and CalHome Replacement Lean Program.
The Hou1ng Diva~slon reviews app~.ications to determine Which program best
fits the needs of the appl~.cants. Applications are mailed out and
xeceived for these programs an a continuing basis. Chart 1 show's the
number of appl.a.catians sent out by type this fiscal gear.
Loan Underwrita.n~ and Appro~ral Process
In th~.s process staff reviews applicant
eligibility, verifies income and assets,
oversees underwriting, conducts an
inspection of the unit, and prepares a
word write up to determine rehabilitation
worl~ to be perf armed . Due to the comp~.ex
fun~.ing requa.rements, applicants may be
in underwriting as long as several
months. It is largely determined by the
applicant's submittal of the necessary
paper~ror~ . Once approved, staf f prepares
all necessary loan documents, ~na}~es
arrane~nents for execution, and reserves
the required loan funds. Chart ~ indicates
the loans in the underwriting process as
of February .
hard 3 Loa~~ App~~ved
~o
s
Chat ~ Loam i~ U~dervv~~~in
ob~fe Ha~ne
~ehab~
replacement 4
ingie F~m~ly
Re~a~ fi
Chart reflects the total
number of ~.oans approved this
f ~,al gear by type of loan
p8~aloAMl and income level. ~~ date,
~~oaraAMi there have been nineteen loans
®~~o-~°~ ~" i funded .
y~4 y
~' l~ ~i ~
iegle i'amily ~ o~ile Hama ~ chile Dome ~iome~~yer
Rehatailitati~n Replacement Re~abilitattan Program
Monthly Report
end Activities
April ~, ~~~7
Page 4
~'or Housing Division Projects
- February X007
Dev~elopmen~ ~~rojectJMulti-~'amil~r ~~~.abll.~tati~n
Raitt street Infill site
civic Center Barrio Housing Corporation ~CCBH} has now selected ~
project architect, Lim Chang Rohliz~g and Associates, and an agreement to
provide financing for the design of the project was approved by the City
Council in February 2~~7. ~'pcoming milestones include the preparation of
a site survey, development of an acceptable site plan, pro farina and
COI1str~1Ct1On Est estimate. At this time, it l anticipated that rental
units will be developed for very low- and low-incarne families. The
number of units to be deve~.oped on the site has yet to be determined.
100 Block of N pagan
The Logan inf il, l project consists of three vacant lots located at 1 ~ ~ ,
~~~~, and 1~~~ North Cogan street. Orange County Community dousing
Corporation ~O~IC~ has now reached an agreement with the Planning and
Building Agency caoerning site plans, elevation and facades of the three
single-family homes to be developed on these lots. At this time, the
developer is preparing site plan, soils testing, structural engineering
and final, cost estimate. This work is expected to be completed in March
~OD7. Once finalised, staff anticipates bringing a Disposition and
Development Agreement to the Redevelopment agency far approval. OCCHC is
partnering with Taller son dose on this project and is making extensive
use of pro Bono services.
Multi--site Infill
~ September, the Housing Division released a Request for qualifications
~RF~} for the development of thirteen sites throughout the City. The
process was initiated by the distribution of a letter to more than ~~~
developers. A total of seven statement of Qualifications were received.
A team of staff members has reviewed and rated the submittals. On
January ~~ the top three were interviewed. Based on the interviews and
financial statements two of the three were asked to provide project
specific information. staff is reviewing the submittals. Once the
deveioper is eeieeted staff will enter into negotiat~.ons.
wilshirefMinnie
This project consists of acquisition and rehabilitation of seventeen
multifamily structures by Wilshire f Minnie, LP. The project has received
approval for the bond financing from the scat of aiifornia, ~t is
anticipated that escrow will close in June.
Manthl~r R~p~rt ~'or ~a~in ~i~r~.ion Px~~ ect
end ~~i~ritis - ~~buar~ ~ Q 07
~- April 2, ~0~7
Page 5
Fz~,A~ ~MP~C~'
There i~ no fiscal impact ~ociated with this actin.
~r
e 11 T~andr~r-~B ~rl e
~ouing ~ivia.~n Man ~
e~nmuni ter ~e~re 1 opr~ent Agenc~r
SGH/SLB/sr
~~~
~~