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Quarterly Report for Housing Division Projects and Activities <br />November 7, 2011 <br />Page 5 <br />available. Chart 3 shows the status of all single - family properties purchased with NSP 1 funds as <br />of the end of the first quarter. <br />40 <br />35 <br />30 <br />25 <br />20 <br />15 <br />10 <br />5 <br />0 <br />Chart 3: NSP 1- Status of All Single Family Properties <br />0 0 0 <br />Acquisition Under Resale <br />Rehabilitation <br />Table 3 shows the NSP 1 properties sold during the first quarter. <br />Sold <br />Table 3: NSP 1 Sinale - Family Properties Sold Durina the First Dunrter <br />Pro ert Address <br />Silent 2" <br />Income Level <br />1001 W. MacArthur #14 <br />$10,000 <br />Moderate <br />The partnership of Orange Housing Development Corporation (OHDC) and C &C Development was <br />selected to implement the Multifamily Acquisition /Rehabilitation Program. To date, the partnership <br />has used $1.4 million in NSP 1 funds to acquire a 14 -unit multi - family property at 1410 North <br />Durant Street. The rehabilitation is complete and the property is now occupied. The partnership <br />also used $655,000 in NSP 1 funds to acquire two vacant parcels at 605 -611 East Washington <br />Avenue on which they will construct 36 affordable rental units. They have been approved for tax <br />credits and expect to start construction in November of 2011. Both projects will be targeted to <br />households at or below 50% of AMI. <br />NSP 2 Program <br />The City's second <br />award (NSP 2) for $10 <br />18 <br />million was received <br />12 <br />through a highly <br />18 <br />competitive process in <br />4 <br />which only 15 local <br />0 <br />government agencies <br />were successful. Most <br />Chart 4: NSP 2 - Status of All Single Family <br />Properties <br />Acquisition Under Resale Sold <br />Rehabilitation <br />19F -5 <br />