Sand, fair, paint, etc on the keel. Get your rig tuned as per Catalina guidelines and go from there. Same for the bottom and spend the $$ on VC-17 bottom paint. But then again, you are racing a Cat-22, your PHRF is around 270 without mods for smaller head-sail and no spinnaker, if you aren't flying one. Going to the extreme, and this is just my opinion it's your $$, is not really worth it for a Cat-22. You are doing beer can/buoy club racing? Yes/No? Yes, I understand, believe me, that you want to go fast as possible. But, need to work your monetary priorities.
My 2 cents as a guy who "raced" an O' Day 25 but, now actually races a Beneteau First 235.