HomeMy WebLinkAbout04 - HsgDivProjActMEETING DATE: RECORDING SECRETARY USE ONLY:
OCTOBER 2, 2006
TITLE:
MONTHLY REPORT FOR HOUSING DIVISION
PROJECTS AND ACTIVITIES - AUGUST
2006
EXECUTIVE DIRECTOR
L
RECOMMENDED ACTION
Receive and file.
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 (Sarmiento, Welty absent) at its Regular Meeting of
September 19, 2006.
DISCUSSION
The August 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
owner occupied historic single family,
single family, and mobile homes. There
are four different mobile home programs:
Chart 1 Applications
Single Fai
zo
pile Home
52 4
Monthly Report for Housing Division
Projects and Activities - August 2006
October 2, 2006
Page 2
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 the end of August.
Chart 3 Loans Approved
Single Family Mobile Home
Rehabilitatton Replacenment
Chart 2 Loans in Underwriting
Mobile Home
Rehab/
Replacement (15)
Q $0% AMI
Chart 3 reflects
®b0%AMI E of loans approved
p30%AMI ` by type of loan an
Single Family
Owner
Occupied (7)
the total number
this fiscal year
I income level.
11
Monthly Report for Housing Division
Projects and Activities - August 2006
October 2, 2006
Page 3
Construction Process
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 4 shows the types of units under construction. As of the end
of August, there were a total of 114 units underway.
120
100
80
60
40
20
0
Chart 4 Units Underway
July August
Loan portfolio Management
The Housing Division is responsible
residential loan portfolio. As of
balance was $33.7 million. This is
were deferred payment loans. The loa
the beginning of this fiscal year.
Compliance Monitoring
Over the years, the City and Agen
State and Federal programs. These f
and requirements. The Division is
projects are in compliance with the
meet the City's municipal code as
requirements. Monitoring includes
non-profit certifications and onsite
the Division will be responsible for
[p MH Replacement
E3 Rental Units
❑ 5F Rehab
M MH Rehab
for ensuring the integrity of the
the end of August, the principal
comprised of 397 loans of which 300
n portfolio generated $100,558 since
cy have received funds from various
unds each have specific restrictions
responsible for ensuring that the
se requirements, and that the units
it relates to health and safety
case file review, unit inspections,
auditing. During this fiscal year,
monitoring 1,249 units.
Monthly Report for Housing Division
Projects and Activities - August 2006
October 2, 2006
Page 4
Development Projects/Multi-Family Rehabilitation
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
working with an architect and is finalizing the proposal.
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 in negotiations 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. Staff anticipates bringing a DDA to the Redevelopment Agency in
November.
Multi -Site Infill
The Housing Division has developed
sites throughout the City. The
through various street and freew
include the Birch and McFadden sit
be distributed in September.
FISCAL IMPACT
an RFQ for the development of several
majority of the sites were acquired
ay improvement projects. The RFQ will
es. It is anticipated that the RFQ will
There is no fiscal impact associated with this action.
4eiiy0�andr_y-yle
Housing Division Man er
SGH/SLB/mlr
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