Loading...
HomeMy WebLinkAbout04 - HsgDivProjActMEETING DATE: JULY 3, 2006 TITLE: MONTHLY REPORT FOR HOUSING DIVISION PROJECTS AND ACTIVITIES - MAY 2006 W-6 ODIRECTOR RECOMMENDED ACTION Receive and file. 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 6:0 (Yanez absent) at its Regular Meeting of June 20, 2006. DISCUSSION The May 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 moble home programs: Mobile Home Hardship Forgivable Loan Program, Federal Empowerment Zone Forgivable Loan Chart 1 Applications Single Family 2D Mobile iome 117 Monthly Report for Housing Division Projects and Activities --- May 2006 July 3, 2006 - Page 2 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 AloDroval 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 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 $8,428,789 for projects. Construction Process Chart 2 Units Approved During this phase, staff monitors the construction work, approves payments to contractors, and tracks expenditures to ensure they do not exceed available funds. Multifamily projects often involve additional issues such as compliance with prevailing wage requirements and/or Davis - Bacon. Chart 3 shows the number of projects underway during each month of the fiscal year. There are currently 213 units underway. Monthly Report for Housing Division Projects and Activities - May 2006 July 3, 2006 Page 3 250 200 ?60 100 50 0 Chart 3 -Units Underway July August Sept. Oct. Nov. Dec. Jan. Feb. March April May Loan Portfolio Management The Housing Division is responsible for ensuring the integrity of the residential loan portfolio. As of the end of April, the principal balance was $33.69 million. This is comprised of 400 loans of which 298 were deferred payment loans. Three loans were completed in May, while 33 have been paid off during the fiscal year. The loan portfolio has generated $996,148 in program income from loan repayments since the beginning of the fiscal year. Staff has completed an audit of all FY 04- 05 loan files. This included all Single Family Rehab loans completed in FY 04-05. Compliance Monitoring 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 April, the Division was responsible for monitoring 1,249 units. M Monthly Report for Housing Division Projects and Activities - May 2006 July 3, 2006 Page 4 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 has been published four times in both the Orange County Register and Los Angeles Times. In an effort to increase the number of bids, closing was extended to June 16, 2006. McFadden Infill Site (between Maple and Orange Streets) Currently, staff is working with an architect to develop conceptual plans. Staff will continue to work with an architect to develop more detailed plans, which will be taken to the neighborhood by August. Staff anticipates distributing a Request for Qualifications to select a developer by October. Raitt Street Infill Site Staff is negotiating with Civic Center Barrio Housing Corporation (CCBHC) 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 developed on the site has yet to be determined. CCBHC is currently attempting to contract with an architect for the project. Staff anticipates bringing a Disposition and Development Agreement (DDA) to the City Council and Redevelopment Agency by December. 1000 Block of N. Loaan 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 (OCCHC) to develop a single- family home on each of the parcels. OCCHC is partnering with Taller San Jose to develop the parcels. Staff anticipates bringing a DDA to the Redevelopment Agency for consideration by July. Monthly Report for Housing Division Projects and Activities - May 2006 July 3, 2006 Page 5 Scattered Site Infill The Housing Division is developing a Request for Qualifications (RFQ) 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 RFQ will be published by the end of the July. 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. Escrow closed on May 19, 2006. The rehabilitation work is underway and on schedule. FISCAL IMPACT There is no fiscal impact associated with this action. nig��nf� rAe�auk_ Stephen Harding Executive Director of the Housing Authority SGH/SLB/mlr H:\ACTIONS\2006 HA\MthlyRptHsgProjs&Activities 7-3-06.doc