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quarterly Report for Housing Division Projects and Activities November ~~~9 Page 3 the Ta~uns~nd and Raitt area. Rents are to b restricted to those affordable to extremely law and very l.ow-~.noome households . Four of the six buildings are now complete, as is community center. The rehabilitation word is underway on one of the two remaining buildings. 7~ North Lacy The City Council and Community Redevelopment Agency have approved loans to OHD and ~&C for acquisition and rehabilitation of ~5 unit building at 7D earth Lacy, Rents are to be restricted to those affordable to e~trer~ely low- and very law-income households. The project has closed escrow, and construction is underway. NSP Program The City received 5,75,x.55 in Ne~.ghborhood Stabili~atian Program {NP} funds which is intended to target and stabilize communities hardest hit with foreclosures. Five NSP programs were created, including a Dawn Payment Assistance Program, Redevelopment Program, Sing~.e-Family Acquisition-Rehabilitation Program, Historic/Condomin~.u~n Acqu.isition- Rehabilitatian Program and ~ I~u~.tifa~n~.ly Acquisition-Rehabilitation Pragrar~. As of September 0, we have obligated and drawn down ANR Homes, Inc., the lntermedlary selected to lmplement hameawnerh~p programs including the Single Far~ily and Histor~.c~Condo, is responsible far the acqu~,~.tion, rehabilitation and resale of the foreclosed units. These homes gill be sold to families with incomes up to 12~ percent of the area median {AMI } . To date, there are 12 sing~.e - f an~~.ly homes in var.~ous stages of acquisition, rehabilitation, or resale that will be - sold to qualifying families. OHDC was selected far the implementation of the l~ultifar~ily Acquisition~Rehab Program. To date, ~H~C has acquired ~ 14-unit multi- family property on Durant Street. These units will be targeted to households at or below percent A~II and wi1.l help the City meet the requirement that at least 5 percent of its NP funds be spent to assist very ~.aw-incam.e households. Raitt Street Inf ill Site civic Center arria Hous~.ng Corporation ~CCBHC} is proposing to construct an 11-unit affordable housing project comprised of three triplexes and - two sa.ngle family units. The project will be integrated with CCBHC's existing 1~-unit development to the earth. Plans are proceeding through the City's site plan review process, while the developer continues