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Table 1: Housing Rehab Program Applications Processed 6 Completed 3 Under Construction 1 To go out to bid 1 Site Visit Complete 1 Site Visit to Do 6 Potential New Applicants 7 Denied for Over-Income/Asset 5 Other Denials 7 Denied for Inactivity 1 On Hold 37 Total The breakdown in Table 1 supports the following reasons for the carry-over funds: 1. It is challenging to find qualified applicants. Of the 37 applicants, 7 have been denied for being over -income (nearly 1 out of 5 applicants) while 5 other applicants have been denied for various reasons such as they already have an existing Housing Rehab loan or they are not the homeowner but renting out the home. 2. The City/Habitat is unable to assess the eligibility of applicants who have expressed interest in the Housing Rehab Program. Habitat either have not received the full applications or these applications remain incomplete as income -related documentation still need to be submitted. Habitat makes every effort to connect, engage, and keep contact with these applicants, but eventually these 7 applicants (nearly 1 out of 5 applicants) have been considered withdrawn or have been denied due to inactivity. These applicants are informed that they can communicate their desire to continue with the Program, and Habitat will re -open their files and re-engage with them to determine how best the Program can serve them. 3. Applicants do not want to obtain loans that carry a 3% simple annualized interest with a 30 -year term. They only want grant funds that does not require repayment. These applicants simply chose to forego any services if they are unable to receive a grant. Options for the Future of the Housing Rehabilitation Program It seems appropriate to re-evaluate the Housing Rehabilitation Program to assess how to improve the Program so that more Pleasanton homeowners are able to benefit from the Program. Staff has identified the following general options for review and consideration: Page - 2 -