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Quarterly Report for Housing Division Projects and Activities <br />November 7, 2011 <br />Page 6 <br />awards were made to nonprofit consortiums. Under the terms of this award, there is no obligation <br />deadline to meet; however, there is an expenditure deadline. Fifty percent of the funds must be <br />expended by February 11, 2012, and the remainder by February 11, 2013. As of the end of the <br />first quarter, the City had expended $7.3 million or 73% of its funds. Only 20% of NSP 2 grantees <br />have spent 50% or more of their funds. NSP 2 implements three programs: Down Payment <br />Assistance Program, Single-Family Acquisition-Rehabilitation Program, and a Multifamily <br />Acquisition-Rehabilitation Program. ANR has spent more than $4 million in NSP 2 funds and has <br />leveraged an additional $4.5 million in private funds to make these affordable units available. <br />Chart 4 shows the status of all properties purchased with NSP 2 funds as of the end of the first <br />quarter. Tables 4, 5, and 6 provide additional detail. <br />Table 4: NSP 2 Properties Under Rehabilitation <br />Address Projected Completion Date <br />2106 S. Baker 10/28/2011 <br />323 E. Chestnut 12/17/2011 <br />1119 W. 5 12/28/11 <br />1340 S. Douglas 2/6/12 <br />927 W. Berkeley 2/20/12 <br />Table 5: NSP 2 Single Family Properties Available for Sale <br />Address Affordability Level <br />2047 S. Birch Moderate <br />1319 W. 7 Moderate <br />1233 W. Myrtle Moderate <br />1634 W. 12 Moderate <br />216 N. Bush Moderate <br />Table 6: NSP 2 Single Family Properties Sold During the First Quarter <br />Property Address Silent 2" Income Level <br />2201 S. Parton $10,000 Moderate <br />1104 S. Raitt $10,000 Moderate <br />2075 S. Van Ness $10,000 Moderate <br />1520 W. Sixth $10,000 Moderate <br />2142 S. Park $10,000 Moderate <br />1410 S. Shelton $10,000 Moderate <br />1230 S. Garnse $10,000 Moderate <br />19F-6