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5 <br /> quarterly Report for Housing <br /> Division Projects and Activ~.ties <br /> February 1, ~~1~ <br /> Page 3 <br /> lour-income households. Four of the six buildings are now complete, as is <br /> a community center. The rehabilitation work is underway on both of the <br /> remaining buildings. <br /> 7~ North Lacy <br /> The City council and Agency have approved loans to ~HD~ and C&C <br /> De~relapment for acquisition and rehabilitation of a ~ unit building at <br /> 70 North Lacy, Rents are to be restricted to those affordable to <br /> extremely low- and very 1ow~-income households, 'the project has closed <br /> escrow and the rehabilitation work is underway. <br /> NP Program <br /> 5 <br /> The City received $5,795,155 through the Neighborhood stabilization r <br /> Program SNP} which is intended to target and stabilize communities <br /> hardest hit with foreclosures. Five NP programs were created, including <br /> a Down Payment Assistance Program, Redevelopment Program, Single~Family <br /> Acquisition-Rehabilitation Program, HistoriclCondor~iniun~ Acquisition- <br /> Rehabilitation Program and a 1~ultifar~ily ~cquisitionWRehabilitatian r <br /> Program. A comprehensive and detailed quarterly report is posted on the <br /> City's website at http:~~www.anta-ana.org~cda~NP.asp. } <br /> k <br /> <br /> ANR Homes, Ir~o., the intermediary selected to implement homeownership r <br /> programs includ~.ng the dingle Family and HistoriclCondo, is responsible <br /> for the acquisition, rehabilitation and resale of the foreclosed un~.t. <br /> These homes w~.ll be sold to families with incomes up to 1~0 percent of <br /> Y <br /> the area median ~~MI}. To date, there are 20 single-family homes in <br /> various stages of acquiitian, rehab~.l.itatlon, or resale that will be <br /> sold to qualifying families. ANR has spent or committed mare than <br /> <br /> ~n~.llion in NP funds and has leveraged an additional 2.5 million a~n <br /> private funds to make these affordable units available. <br /> AHD was selected for the implementation of the ~Iultifar~ily <br /> <br /> ~cquisitian~Rehabilitatian Program. To date, ~HDC has used 1.4 million <br /> in NP funds to acquire a 14-unit multi-family property on Durant Street. <br /> These units will be targeted to households at or below 50 percent A~~ and <br /> <br /> will help the City meet the requirement that at least 25 percent of its <br /> <br /> NAP funds be spent to assist very low-income households, <br /> Raitt Street Infill Site <br /> Civic tenter Barrio Housing corporation ~CCBHC} is proposing to construct <br /> an 11~unit affordable housing project comprised of three triplexes and <br /> two single-family units . The project will be integrated with CCBHC' s <br /> existing 1~-unit development to the north. Plans are proceeding through <br /> <br />