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Quarterly Report for Housing Division Projects and Activities November 4, 2013 Page 3 and common areas such as laundry rooms to insure they also meet City code requirements. The majority of the inspected units as well as the grounds and common areas were found to be in compliance at the time of initial inspection. Some of the units had minor deficiencies including loose toilets, inoperative burners, faulty GFCI outlets, inoperative smoke alarms and carbon monoxide detectors. All of the deficiencies were repaired and the units were found to be in compliance at the time of the subsequent re- inspection. Subordinations Mortgage interest rates have increased resulting in a decline in the number of requests for subordination. During the last fiscal year there were a total of 28 requests for subordination received and approved of which 14 were in the fourth quarter. During this quarter, the City received 1 request for subordination which could not be processed because it was incomplete. Subordination requests are reviewed for conformance with City policy and granted to homeowners that were refinancing their existing first mortgage to a more favorable interest rate. Per the subordination policy, no cash is allowed to be taken. Development Projects NSP 2 Program The City's second award (NSP 2) for $10 million was received through a highly competitive process in which only 15 local government agencies were successful. Most awards were made to nonprofit consortiums. Under the terms of this award, there is no obligation deadline to meet; however, there is an expenditure deadline. In the first quarter, HUD approved a technical amendment to allow the City to close the Down Payment Assistance Program activity and move the remaining $336,860 to the Single - Family Acquisition - Rehabilitation activity. There were no properties sold during the first quarter; eight properties were sold during the last fiscal year. 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. In order 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 grant activities are: • Acquisition /Rehab /Resale -50 Percent of Area Median Income • Acquisition /Rehab /Resale -120 Percent of Area Median Income • Administration The City's intermediary, ANR, has been actively seeking foreclosed properties in the NSP 3 target area. During this quarter, one application was received for the sale of the property located at 1223 19F -3