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Quarterly Report for Housing Division Projects and Activities June 4, 2012 Page 6 Table 6: NSP 2 Sinqle Family Properties Sold During the Third Quarter Pro a Address Silent 2nd Income Level 2106 S. Baker $10,000 Moderate 927 W. Berkeley $10,000 Moderate 1340 S. Douglas $10,000 Moderate The partnership of Orange Housing Development Corporation (OHDC) and C &C Development was also selected to implement the NSP2 Multifamily Acquisition /Rehabilitation Program. To date, the partnership has used $4.29 million in NSP 2 funds to acquire a 26 -unit multi - family property at 326 S. Garnsey Street. Once completed, 25 of the units will be rented to very low- income families at affordable rents. The remaining unit will be reserved for the onsite manager. All 26 units offer two bedrooms. NSP 3 Program The U.S. Department of Housing and Urban Development (HUD) has allocated the amount of $1,464,113 in NSP 3 funds to the City of Santa Ana. To receive these funds the City adopted a substantial amendment to its Annual Action Plan, and submitted it to HUD on February 28, 2011. The amendment was approved, and the City signed a grant agreement with HUD on March 10, 2011. The City will implement the following programs with these funds: Acquisition /Rehab /Resale -50 Percent of Area Median Income Acquisition /Rehab /Resale -120 Percent of Area Median Income Administration In order to facilitate implementation of the first two programs, the City released a Request for Proposals (RFP) for intermediaries on February 28, 2011. The RFP solicited the services of an individual or firm qualified to acquire, rehabilitate, and resell foreclosed and abandoned single family homes in accordance with NSP3 regulations. ANR Homes, Inc. was selected to receive the contract, and it was approved by City Council on June 20, 2011. As required by regulations, comprehensive detailed quarterly reports on all the City's NSP Programs are posted on the City's website at http:/ /www.santa - ana.org /cda /NSP.asp. In -fill Development Projects Habitat for Humanity of Orange County closed escrow on February 23, 2012 on the first of 17 parcels with their property at 717 E. Third Street. Construction is currently underway. Escrows on other sites are expected to close in the near future. OHDC and C & C Development have begun construction of multi - family housing on the sites located at 217, 219 & 435, 437 South Birch Street, 2034 & 2038 North Bush Street, and 605 -611 E. Washington. i Lei