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HomeMy WebLinkAbout04 - HsgDivProjActMEETING DATE: MAY 1, 2006 TITLE: MONTHLY REPORT FOR HOUSING DIVISION PROJECTS AND ACTIVITIES - MARCH 2006 Wk IIVE DIRECTOR RECOMMENDED ACTION Receive and file. ggucaiio� fst RECORDING SECRETARY USE ONLY: APPROVED ❑ As Recommended ❑ As Amended CONTINUED TO COMMUNITY REDEVELOPMENT AND HOUSING COMMISSION RECOMMENDATION Recommended that the Housing Authority receive and file. By a vote of 5:0 (Turner and Yanez absent) at its Regular Meeting of April 1.8, 2006. DISCUSSION The March 2006 monthly status report provides statistics for the day-to- day affordable housing activities of the City and the Community Redevelopment Agency. The report is divided into four sections: Loan Activity, Loan Portfolio Management, Compliance Monitoring, and Development Projects. Loan Activity Applications The Housing Services Division offers rehabilitation loan programs designed for owner occupied historic single family, single family, and mobile homes. There are four different mobile home programs: Mobile Home Hardship Forgivable Loan Program, Chart 1 Applications Single Family 194 Monthly Report for Housing Division Projects and Activities - March 2006 May 1, 2006 Page 2 Federal Empowerment Zone Forgivable Loan Program, CalHome Mobile Home Rehab Loan Program, and CalHome Replacement Loan Program. The Housing Division reviews applications to determine which program best fits the needs of the applicants. Applications are mailed out and received for these programs on a continuing basis. Chart 1 shows the number of applications sent out by type this fiscal year. Loan Approval Process Staff reviews applicant eligibility, verifies income and assets, oversees underwriting, conducts an inspection of the unit, and prepares a work write up to determine rehabilitation work to be performed. Once approved, staff prepares all necessary loan documents, makes 9F Rehab 75 arrangements for execution, and reserves the required loan funds. Chart 2 shows the number approved during this fiscal year by program type. This represents a total amount of $8,521,434 for projects. Construction Process During this phase, staff monitors the construction work, approves payments 155 to contractors, and tracks ISO expenditures to ensure they do not Tay exceed available funds. Multifamily projects often involve additional i40 issues such as compliance with 135 prevailing wage requirements and/or Iso Davis -Bacon. Chart 3 shows the 175 number of projects underway during each month of the fiscal year. Loan Portfolio Management Chart 2 Units Approved MH Chart 3 - Units Underway I The Housing Division is responsible for ensuring the integrity of the residential loan portfolio. As of the end of March, the principal balance was $34.15 million. This is comprised of 406 loans of which 301 were deferred payment loans. Two loans were paid off in March, while 26 Monthly Report for Housing Division Projects and Activities - March 2006 May 1, 2006 Page 3 have been paid off during the fiscal generated $913,099 in program income beginning of the fiscal year. Staff has 05 loan files. This included all Single FY 04-05. Compliance Monitoring year. The loan portfolio has from loan repayments since the completed an audit of all FY 04 - Family Rehab loans completed in Over the years, the City and Agency have received funds from various State and Federal programs. These funds each have specific restrictions and requirements. The Division is responsible for ensuring that the projects are in compliance with these requirements, and that the units meet the City's municipal code as it relates to public health and safety requirements. Monitoring includes case file review, unit inspections, non-profit certifications and onsite auditing. As of the end of January, the Division was responsible for monitoring 1,197 units. Development Projects/Multi-Family Rehabilitation Birch Street On January 3, 2006, the Redevelopment Agency awarded a contract for the construction of four California Bungalow style single-family homes in the Historic Heninger Park Neighborhood. After working diligently with the selected contractor, he was unable to obtain the necessary performance bond. On April 3, 2006, staff re -opened the bid process. The bid notices were mailed to 68 developers and contractors. In addition, the entire bid package is available on the City's web site. The advertisement will be published four times in both the Orange County Register and Los Angeles Times. The bid closes on June 2, 2006. McFadden Infill Site (between Maple and Oranqe Streets) Currently staff is working with an architect to develop conceptual plans, which will be taken to the neighborhood by May. Staff anticipates distributing a Request for Qualifications to select a developer by August. Raitt Street Infill Site Staff is negotiating with Civic Center Barrio Housing Corporation to develop attached homes on the site. It is anticipated that these homes will be sold to low-income families. The number of units that will be Monthly Report for Housing Division Projects and Activities - March 2006 May 1, 2006 Page 4 developed on the site has yet to be determined. Staff anticipates bringing a Disposition and Development Agreement (DDA) to the City Council and Redevelopment Agency by December. 1000 Block of N. Logan The Logan infill project consists of three vacant lots located at 1006, 1012, and 1015 North Logan Street. Staff is currently negotiating with Orange County Community Housing Corporation to develop a single-family home on each of the parcels. Staff anticipates bringing a DDA to the Redevelopment Agency for consideration by December. Scattered Site Infill The Housing Division is developing a Request for Proposal (RFP) for the development of scattered infill single-family sites throughout the City. These sites were acquired through various street and freeway improvement projects. It is anticipated that the RFP will be published by the end of the May. 1501 N. Ross Street & 1411 N. Durant Street On January 3, 2006, the City Council and Redevelopment Agency approved an agreement with Orange Housing Development Corporation (OHDC) for the acquisition and rehabilitation of two multi -family properties located at 1501 N. Ross Street and 1411 N. Durant Street. On March 15, 2006, the California Debt Limit Allocation Committee approved Ross & Durant L.P. for a bond of $7,343,904. FISCAL IMPACT There is no fiscal impact associated with this action. LpL.PatriciaWhitaker Executive irector PCW/SLB/mlr H:\ACTI0NS\2006 HA\MthlyRptHsgProjs&Activities 5-1-06.doc