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Year End Reporting for Housing Division <br />Projects and Activities <br />August 20, 2007 <br />Page 3 <br />Construction Process <br />During this phase, staff monitors the construction work, approves <br />payments to contractors, and tracks expenditures to ensure they do not <br />exceed available funds. Multifamily projects often involve additional <br />issues such as compliance with prevailing wage requirements and/or Davis- <br />Bacon. Chart 4 shows the types of units under construction at the end of <br />each quarter of the fiscal year. As of June, there were a total of 246 <br />units underway. <br />Chart 4 Units Underway <br />300 _....___...___._..___ ` ^ MH Replacement <br />250 ~ ---_..--------._._.___ ® Renta] Units <br />200 ~ --.__..._..------------ ._._ ^ SF Rehab <br />MH Rehab <br />150 --- -- - <br />100 _- <br />50 ----- <br />a <br />September December March June <br />Loan Portfolio Management <br />The Housing Division is responsible for <br />residential loan portfolio. As of June, <br />million. This is comprised of 410 loan <br />residual receipts payment loans. The <br />$371,366 in repayments of principal and <br />the fiscal year. <br />Compliance Monitoring <br />ensuring the integrity of the <br />the principal balance was $44.2 <br />s of which 325 were deferred or <br />loan portfolio has generated <br />interest since the beginning of <br />Over the years, the City and Agency have received funds from various <br />State and Federal programs. These funds each have specific restrictions <br />and requirements. The Division is responsible for ensuring that the <br />projects are in compliance with these requirements, and that the units <br />meet the City's municipal code as it relates to health and safety <br />requirements. Monitoring includes case file review, unit inspections, <br />non-profit certifications and onsite auditing. During the year, staff <br />made all required onsite visits to conduct file audits, conducted all <br /> <br />