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57 <br /> thorough review of subrecipient activities and the provision of technical assistance to proactively <br /> address and prevent potential compliance issues. <br /> The Orange County HOME Consortium employs a risk analysis matrix to monitor all appropriate <br /> HOME subrecipients each Program Year.This matrix is developed in accordance with guidance <br /> from CPD Notice 04-01 and CPD 02-11,which outline the factors used to assess the risk level of <br /> HOME recipients. Once projects are approved and HOME Awardees have signed Written <br /> Agreements, staff will document these projects in a HOME Project Monitoring spreadsheet.This <br /> spreadsheet incorporates a scoring system that evaluates the risk of each project based on various <br /> criteria, including the type and amount of funding,the capacity and track record of the HOME <br /> Awardee, and the size and scope of the project. Subrecipients are then categorized as low, <br /> moderate, or high risk based on their scores. <br /> The Consortium uses these risk scores to establish an annual monitoring schedule.As a standard <br /> practice, on-site monitoring is conducted annually for all high-risk HOME Awardees to ensure <br /> compliance and identify areas for improvement. For moderate and low-risk subrecipients, on-site <br /> monitoring is conducted every other Program Year,with desk reviews carried out throughout the <br /> year to maintain oversight and provide timely guidance. <br /> During project development, HOME Awardees are required to submit quarterly progress reports <br /> using a standardized template provided by the Orange County Housing and Community <br /> Development(OCHCD)department, available on its website.These reports detail the progress of <br /> the project and any challenges encountered. Upon project completion, a final report must be <br /> submitted, summarizing the project's accomplishments,the number of beneficiaries served, and a <br /> detailed account of how the awarded funds were utilized. <br /> Additionally, OCHCD conducts an on-site inspection of each completed project to verify that it <br /> meets all applicable property standards.This inspection is performed before marking the project as <br /> complete in HUD's Integrated Disbursement and Information System (IDIS). <br /> For comprehensive details on monitoring practices and requirements, refer to the Orange County <br /> HOME Consortium Policies and Procedures Manual. <br /> ATTACHMENTS <br /> Public Hearing 1 input: <br /> One comment was received during the first public hearing. <br /> • There is a need to protect and expand Naturally Occurring Affordable Housing which <br /> provides valuable affordability to renters across the Orange County. <br /> 54 <br />