Civil Grand Jury Reports 2005-06

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C. Mayor's Office of Housing .
By the end of the summer of 2002, 240 loans had been made to first-time homebuyers under the DALP. This obligated all the initially available funds. A SPUR report of July 2002 found that the DALP has been an effective and efficient program.
In a letter of March 29, 2006, to the CGJ the Director of the MOH provided current statistics: > 293 loans have been made since inception of the program > The average loan is for $6 1 ,000 > 68 loans have been repaid by borrowe
...rs > There have been no defaults > $3,400,000 is available to allocate to new borrowers.
However, it should also be noted that when the program was established, section 43.3.7 of the Admimstrative Code of the City required the MOH to file an annual report with the Board of Supervisors on the status of the Affordable Housing and Homeownership Program.
In June of 2002, the Budget Analyst criticized the MOH for publishing the Annual report prior to the end of the 2001/2002 fiscal year covered by the annual report.


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