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I I I Year-End Report for Hauling Division Projects and activities August 18, X008 Page Loan Po~r~~olio Man~gm~t The Housing Diviszon is responsible for ensuring the integrity of the resident~.al lawn portfolio. As of the end of the fiscal year, the principal balanoe was $50,457,81. This is oomprised of 407 loans of which 3~8 were deferred or residual receipts payment loans. The loan portfolio generated $480,388 in repayments of princ~.pal and ~.nterest during the 20Q7-08 fiscal gear. ~~v~l~pmer~~ P~o~e~ts~~lti-Fam~.l~ R~a~ailita~io~ - Townsend and Raitt On January 7, X008, the pity Council and Community Rede~elopent Agency appra~red 5, ~1, 4~~ in loans to Townsend & Ra~.tt, LLC for acquisition and rehabilitation of five apartment buildings on Townsend and Raitt Streets. The buildings contain a total of 51 one bedroom apartment units, 50 of which are to be restricted to occupancy by very law-income households. The remaining unit was to be reserved for an onsite manager. The acquisition of 701 and 70~ Townsend was completed on February 15, 2008, and the rehabilitation work has begun. The estimated completion = date for these buildings is December X008. The acqu~.sition of 817 and 8~1 S. Rant and 84 . Rant was completed May 15, X005, and the rehabilitation work has not yet begun. As of yet, there ~.s no estimated r completion date for these buildings. ~ilshirelMinnie ~n December 18, ~00~, the City Council and Comr~unity Redevelopment Agenoy - approved 7,9~7,1Q9 in bands and $10X50,000 in loans to wilshire~Minn~.e, L.P far acquisition and rehabilitation of 17 apartment buildings on Wilshire and Minnie Streets. The original 1~ units were to be converted into 144 Dne, two, three and four bedroom units, with 143 of the units restricted to low and very law-income households. The regaining unit was to be reserved for an onsite manager. Rehabilltatlon of sip of the f buildings has been completed, and they are being leased up in accordance with the of fordab~.lity restrictions . `the entire proj eet is scheduled to be completed by March X009. Ras~Durant an ~Tanuary 3, ~00~, the City Council and Cor~.munity Redevelopment Agency approved $2,181,200 in bonds and $5,050,844 in loans to Ross & Durant, L.P. for acquis~.tion and rehabilitation of the apartment complexes located at 1411 Durant and 1501 I~. Ross. The buildings were comprised i I