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Quarterly Report for Housing Division Projects and Activities November 7, 2011 Page 6 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. Fifty percent of the funds must be expended by February 11, 2012, and the remainder by February 11, 2013. As of the end of the first quarter, the City had expended $7.3 million or 73% of its funds. Only 20% of NSP 2 grantees have spent 50% or more of their funds. NSP 2 implements three programs: Down Payment Assistance Program, Single - Family Acquisition - Rehabilitation Program, and a Multifamily Acquisition - Rehabilitation Program. ANR has spent more than $4 million in NSP 2 funds and has leveraged an additional $4.5 million in private funds to make these affordable units available. Chart 4 shows the status of all properties purchased with NSP 2 funds as of the end of the first quarter. Tables 4, 5, and 6 provide additional detail. Table 4: NSP 2 Properties Under Rehabilitation Address Projected Completion Date 2106 S. Baker 10/28/2011 323 E. Chestnut 12/17/2011 1119 W. 51h 12/28/11 1340 S. Douglas 2/6/12 927 W. Berkeley 2/20/12 Table 5: NSP 2 Single Family Properties Available for Sale Address Affordability Level 2047 S. Birch Moderate 1319 W. 7 Moderate 1233 W. Myrtle Moderate 1634 W. 12,n Moderate 216 N. Bush Moderate Table 6: NSP 2 Single Family Properties Sold During the First Quarter Property Address Silent 2 nc, Income Level 2201 S. Parton $10,000 Moderate 1104 S. Raitt $10,000 Moderate 2075 S. Van Ness $10,000 Moderate 1520 W. Sixth $10,000 Moderate 2142 S. Park $10,000 Moderate 1410 S. Shelton $10,000 Moderate 1230 S. Garnsey $10,000 Moderate 19F -6