HomeMy WebLinkAbout04 - HsgDivProjActMEETING DATE:
DECEMBER 4, 2006
TITLE:
MONTHLY REPORT FOR HOUSING
DIVISION PROJECTS AND ACTIVITIES
— OCTOBER 2006
EXECUTIVE Df CTOR
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 4:0 (Jauregui, Sarmiento, Welty) at its Regular Meeting of
November 20, 2006.
DISCUSSION
The October 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. As the fiscal year progresses the graphs will
reflect the increased activities.
Loan Activity
Applications
The Housing Services Division offers
rehabilitation loan programs designed for
homebuyer assistance (American Dream
Down -payment Assistance, "ADDI") and the
rehab of owner occupied historic single
family, single family and mobile homes.
Chart 1 Applications
Single
Family 33
ADD[ 17
Mobile
iame 86
Monthly Report For Housing
Division Projects and
Activities - October 2006
December 4, 2006
Page 2
There are four different mobile home programs: Mobile Home Hardship
Forgivable Loan Program, 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 Underwriting and 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. Due to the complex funding
requirements, applicants may be in
underwriting as long as several months. It
is largely determined by the applicant to
submit the necessary paperwork. Once
approved, staff prepares all necessary
loan documents, makes arrangements for
execution, and reserves the required loan
funds. Chart 2 indicates the loans in the
underwriting process as of October.
Chart 3 Loans Approved
Single Family Mobile Home Mobile Home Homebuyer
Rehabilitation Replacenment Rehabilitation Program
Chart 2 Loans in Underwriting
igle Family 8
Chart 3 reflects the total
number of loans approved this
fiscal year by type of loan and
080%AMI income level. The City funded a
Z50 -A AMI mortgage assistance loan in
ia330%AMI October using federal American
Dream Down -payment Assistance
(ADDI) program funds.
0
Monthly Report For Housing
Division Projects and
Activities - October 2006
December 4, 2006
Page 3
Construction Process
During this phase, sta
payments to contractors,
exceed available funds.
issues such as compliance
Bacon. Chart 4 shows the
there were a total of 122
140
120
100
80
60
40
20
0
f monitors the construction work, approves
and tracks expenditures to ensure they do not
Multifamily projects often involve additional
with prevailing wage requirements and/or Davis-
ypes of units under construction. As of October
units underway.
Chart 4 Units Underway
July August Sept Oct
Loan Portfolio Management
C3 MH Replacement
a Rental Units
o SF Rehab
m MH Rehab
The Housing Division is responsible for ensuring the integrity of the
residential loan portfolio. As of October, the principal balance was
$33.9 million. This is comprised of 395 loans of which 300 were deferred
payment loans. The loan portfolio has generated $176,455 in repayments
of principal and interest since the beginning of this fiscal year.
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 health and safety
requirements. Monitoring includes case file review, unit inspections,
non-profit certifications and onsite auditing. During this fiscal year,
the Division will be responsible for monitoring 1,249 units.
Development Projects/Multi-Family Rehabilitation
Raitt Street Infill Site
Staff is continuing to negotiate with Civic Center Barrio Housing
Corporation (CCBHC). It is anticipated that rental units will be
M_
Division Projects and
Activities - October 2006
December 4, 2006
Page 4
developed for very low and low-income families. The number of units that
will be developed on the site has yet to be determined. CCBHC is
currently working with an architect and is finalizing the proposal.
1000 Block of N Logan
The Logan infill project consists of three vacant lots located at 1006,
1012, and 1015 North Logan Street. Staff continues to negotiate 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. OCCHC is in the process of developing the
project budget and continues to work with Planning on the design. Staff
anticipates bringing a DDA to the Redevelopment Agency in January of
2007.
Multi -Site Infill
In September, the Housing Division released a Request for Qualifications
(RFQ) for the development of thirteen (13) sites throughout the City.
The process was initiated by the distribution of a letter to more than
100 developers. A mandatory pre -submission conference was held on
Wednesday, October 18, 2006, at 10 a.m. A total of 23 individuals
attended the meeting representing 13 different companies and
organizations. Staff has responded to multiple questions and inquiries
since the mandatory meeting. The Statement of Qualifications were due
Wednesday, November 15. A total of seven Statement of Qualifications
were received by the deadline.
FISCAL IMPACT
There is no fiscal impact associated with this action.
Lalv�l _16�'
4SLe'lly andry- B iyle
Housin Division Manager
Community Development Agency
SGH/SLB/sr
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