January 1, 2015 thru March 31, 2015 Performance Report

Transcription

1 Grantee: Grant: Broward County, FL B-08-UN January 1, 2015 thru March 31, 2015 Performance Report 1

2 Grant Number: B-08-UN Grantee Name: Broward County, FL Grant Award Amount: $17,767, LOCCS Authorized Amount: $17,767, Budget: $22,867, Obligation Date: Contract End Date: 03/05/2013 Grant Status: Active Estimated PI/RL Funds: $5,100, Award Date: Review by HUD: Reviewed and Approved QPR Contact: Patricia Stephenson Disasters: Declaration Number NSP Narratives Areas of Greatest Need: Broward County Neighborhood Stabilization Program (NSP) has prioritized funding to those non-nsp entitlement municipalities and unincorporated areas with the greatest percentage of home foreclosures and subprime loans, those areas most likely to experience a significant rise in the rate of home foreclosures, and those communities with the highest concentration of moderate to low income households. The intent of this approach is to disperse funding across the County's smaller municipalities and unincorporated areas in a fair and equitable manner based upon community need. Broward County will utilize census tracts to target specific areas for assistance. Distribution and and Uses of Funds: Broward County identified areas of need for its Neighborhood Stabilization Program (NSP) funding by first focusing upon the "Foreclosure and Abandonment Risk" index published by HUD. The County has selected and identified those census tracts located outside NSP entitlement communities which are most likely to be impacted by future foreclosures. Next, the County utilized the actual existing foreclosure rates by census tract, which was extracted from HUD data regarding the rates of foreclosure in the County. Finally, the County will utilize existing maps that identify those census tracts with high concentrations of subprime loan products. In addition, the County will focus only upon those census tracts which are "middle-moderate-low income eligible." The remaining eligible census tracts will then be prioritized according to the level of subprime lending, and will represent a final tier of analysis when deciding where to expend NSP funds. Definitions and Descriptions: Blighted Structure: Under 9-J5 of the State Statutes, a "blighted structure" is one where maintenance has been deferred and structure deterioration is evident. Section (b) (2) of Broward County's Administrative Codes defines it further and states: That a "Blighted area" exists, which is an area in which there is a substantial number (20% or more), of slum or deteriorating structures and conditions which endanger life or property. Affordable Rents: Affordable rental cost shall be determined by using the HOME Program rent chart for the current year, as follows: Households at 50% area median income or below will pay a maximum of the Low HOME Rent Limit (with adjustment for the number of bedrooms) minus utility allowance. Households at 51-80% of area median income will pay a maximum of the High HOME Rent Limit (with adjustments for the number of bedrooms) minus utility allowance. Households at 81%-120% of area median income will pay a maximum of the Fair Market Rent (with adjustments for the number of bedrooms) minus utility allowance. All rental activities carried out by Broward County using NSP funds will remain affordable to income-eligible families for a period no less than thirty (30) years, which exceeds the minimum standards set by 24CFR92.252(e). In addition, Income Eligible Families whose income category has changed at the time of lease renewal must pay rent according to limitations stated above. Description of how grantee will ensure continued affordability for NSP assisted housing: Broward County will require all recipients of NSP funding to execute a mortgage, promissory note, and a declaration of restrictive covenants. These documents will be recorded in the Public Records and are enforceable mechanisms to insure continued affordability. 2

3 Description of housing rehabilitation standards that will apply to NSP assisted activities: Broward County will utilize its existing housing rehabilitation standards for NSP funded projects. These standards are included in Broward County's substantial change for NSP. Low Income Targeting: Broward County will set-aside $5 million of its NSP allocation for the redevelopment of foreclosed single and multifamily rental properties and single-family properties for resale, to be rented and sold specifically to households whose incomes do not exceed fifty percent (50%) of area median income. Acquisition and Relocation: Broward County plans on pursuing limited NSP funded demolition or conversion of low- and moderate-income dwelling units. Public Comment: Public Notice was published in the Fort Lauderdale Sun-Sentinel on October 28, A 15 day public comment period started on the date of publication with no public comments recieved. Overall Projected Budget from All Sources Budget Obligated Funds Drawdown Program Funds Drawdown Program Income Drawdown Program Income Received Funds Expended Match Contributed To Date N/A $23,160, $90, $22,560, $90, $22,490, $280, $21,245, $121, $158, $16,146, $5,098, $5,098, $213, $21,277, $131, Progress Toward Required Numeric Targets Requirement Required Overall Benefit Percentage (Projected) Overall Benefit Percentage (Actual) Minimum Non-Federal Match Limit on Public Services $2,665, Limit on Admin/Planning $1,776, Limit on State Admin To Date 0.00% 0.00% $131, $1,235, $1,235, Progress Toward Activity Type Targets Progress Toward National Objective Targets National Objective Target Actual NSP Only - LH - 25% Set-Aside $4,441, $6,589,

4 Overall Progress Narrative: As during the last quarterly reporting period, Broward County continued to focus on rehabilitation and resale or rental of acquired housing units. Program income is being used for the rehabilitation of these units. The County has received a total of $4,940, in program income as of the end of this quarter. During the quarter, the Broward Alliance for Neighborhood Development (BAND) completed rehabilitation and resold two (2) homes (Activity 002). Rehabilitation on a sixteen (16) unit rental property continued during the quarter (Activity 024, LH25). The City of Hallandale Beach is working with Habitat for Humanity and has demolished four (4) badly blighted duplexes with plans to redevelop the property as seven (7) new town homes (Activity 026). Demolition of the duplex units has been completed, permits obtained and redevelopment begun. Overall, Broward County's NSP1 Program has acquired 61 single-family homes (56 in Activity 001, LMMI, 4 in Activity 008, LH25, and 1 in Activity 012, LH25), completing rehabilitation and selling or leasing for ownership, 61 to eligible households, thirteen (14) to low income households (Activity 002, LMMI, Activity 012, LH25, and Activity 009, LH25). In addition, the City of Hallandale Beach has acquired 4 duplexes containing eight (8) units; and plans to redevelop the property with seven (7) new townhomes (Activity 026). Overall, Broward County's NSP1 Program has acquired 11 single and multifamily rental properties containing 77 units and has completed rehabilitation on 61 of these units, renting 61 units to eligible households, 51 to low income households (Activities 013 and , LH25) and ten (10) to moderate income households (Activities 014 and 023, LMMI). The City of North Lauderdale has also given down payment assistance to 23 households, ten (10) to low income households (Activity 003, LMMI) and the City of Hallandale Beach has completed demolition of five (5) properties (Activity 007). BAND has also demolished a blighted home and redeveloped the property with a single-family home (Activity 012, LH25). Overall, Broward County has expended $ , an amount (grant plus program income) greater than its total grant amount of $17,767,589. The County has also met its 25% set-aside grant amount requirement for low income households. Project Summary Project #, Project Title To Date Program Funds Drawdown Project Funds Budgeted Program Funds Drawdown 001, Residential Acquisition $6,635, $5,139, , Residential Rehabilitation $4,983, $2,493, , Financing Mechanism (Soft-Second Mortgage) $754, $633, , Program Planning and Administration $3, $1,844, $1,053, , Residential Demolition $25, $25, , Housing Redevelopment $849, $392, , Multi & Single Family Residential Acquisition & Rehab $118, $6,064, $5,451, , Multifamily Acquisition & Rehab for Resale $1,119, $956,

5 Activities Project # / Title: 001 / Residential Acquisition Grantee Activity Number: Activity Title: Activitiy Category: Acquisition - general Project Number: 001 Projected Start Date: 07/01/2009 Benefit Type: Direct ( HouseHold ) National Objective: NSP Only - LMMI 001 Single-family Acquisition Activity Status: Under Way Project Title: Residential Acquisition Projected End Date: 12/30/2013 Completed Activity Actual End Date: Responsible Organization: Broward Alliance for Neighborhood Development Overall Projected Budget from All Sources Budget Obligated Funds Drawdown Match Contributed To Date $6,338, $6,338, $6,338, $6,269, Program Funds Drawdown $4,843, Program Income Drawdown $1,426, Program Income Received Funds Expended Broward Alliance for Neighborhood Development Broward County Housing Finance and Community Activity Description: Jan 1 thru Mar 31, 2015 N/A $4,041, $6,269, $6,269, As the County's primary strategy funded by the NSP allocation, this activity seeks to reverse the negative effects of foreclosed or abandoned homes upon Broward County neighborhoods by providing financing for the acquisition and redevelopment of these problematic properties. Beneficiaries will be middle, moderate and low income homebuyers, who will receive title to the property along with a declaration of restrictive covenants which will specify the long-term affordability requirement of the property (30 years). It is expected that this strategy will provide safe, decent and affordable housing to a minimum of fifty (56) middle, moderate, and low income households. Initial program dollars allocated to this activity will be realized as program income and re-invested in the activity and will create additional units of affordable housing until the program's end. It is anticipated that between 10-15% of this activity will benefit those households below fifty percent (50%) of area median income. Location Description: 5

6 To be located on scattered sites throughout the unincorporated County, and the urban County cities participating in Broward County's CDBG program. Sites will be prioritized according to HUD's foreclosure abandonment risk score. Activity Progress Narrative: No homes were acquired during this quarter. single family homes acquired through this activity remains at 56. Accomplishments Performance Measures # of Properties 0 # of Parcels acquired by 0 # of Parcels acquired by admin 0 # of Parcels acquired voluntarily 0 acquisition compensation to 0 Cumulative Actual / Expected 56/55 0/0 0/0 56/55 0/0 # of Housing Units 0 # of Singlefamily Units 0 Cumulative Actual / Expected 56/55 56/55 Beneficiaries Performance Measures Activity Locations No Activity Locations found. Cumulative Actual / Expected Low Mod Low Mod Low/Mod # of Households /10 0/16 0/55 0 Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found Other Funding Sources No Other Funding Sources Found Other Funding Sources Amount 6

7 Grantee Activity Number: Activity Title: 004 Acquisition of Multifamily Properties for Rental Activitiy Category: Acquisition - general Project Number: 001 Projected Start Date: 07/01/2009 Benefit Type: Direct ( HouseHold ) National Objective: NSP Only - LH - 25% Set-Aside Activity Status: Completed Project Title: Residential Acquisition Projected End Date: 07/30/2013 Completed Activity Actual End Date: Responsible Organization: Broward County Housing Finance and Community Overall Projected Budget from All Sources Budget Obligated Funds Drawdown To Date Program Funds Drawdown Program Income Drawdown Program Income Received Funds Expended Broward County Housing Finance and Community Jan 1 thru Mar 31, 2015 N/A Match Contributed Activity Description: Activity to be Cancelled and replaced by Activities 013, 015 through 022 and 024. As per HUD request this multiunit activity containing rental properties has been restructured and replaced by activities 013, 015 through 022 and 024. Therefore, this activity which contained ten (10) properties will be cancelled and the ten (10) properties divided into separate activities for each property. The multifamily activities four (004) LH25 acquisition and five (005) LH25 rehabilitation have been combined so that acquisition and rehabilitation are together in the new activities. This activity seeks to reverse the negative effects of foreclosed or abandoned rental property upon Broward County neighborhoods, while providing housing options for those household at or below 50% of area median income. This activity will provide financing for the acquisition and redevelopment of these problematic properties. Beneficiaries will be low income renters, who will occupy one-hundred percent (100%) of the units assisted under this strategy. The long-term affordability requirement of rental property assisted under this strategy is thirty (30) years. It is expected that this strategy will provide safe, decent and affordable rental housing to a minimum of sixty-seven (67) low income households. Location Description: Activity to be Cancelled and replaced by Activities 013, 015 through 022 and 024. To be located on scattered sites throughout the unincorporated County, and the urban County cities participating in Broward County's CDBG program. Sites will be prioritized according to HUD's foreclosure abandonment risk score. 7

8 Activity Progress Narrative: Accomplishments Performance Measures # of Properties 0 # of Parcels acquired voluntarily 0 acquisition compensation to 0 Cumulative Actual / Expected 0/0 0/ /0 # of Housing Units 0 # of Multifamily Units 0 # of Singlefamily Units 0 Cumulative Actual / Expected 0/0 0/0 0/0 Beneficiaries Performance Measures Activity Locations No Activity Locations found. Cumulative Actual / Expected Low Mod Low Mod Low/Mod # of Households /0 0/0 0/0 0 Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found Other Funding Sources No Other Funding Sources Found Other Funding Sources Amount 8

9 Grantee Activity Number: Activity Title: Activitiy Category: Acquisition - general Project Number: 001 Projected Start Date: 07/01/2009 Benefit Type: Direct ( HouseHold ) National Objective: NSP Only - LH - 25% Set-Aside 008 Single-family Acquisition LH25% Activity Status: Completed Project Title: Residential Acquisition Projected End Date: 12/30/2012 Completed Activity Actual End Date: Responsible Organization: Broward County Housing Finance and Community Overall Projected Budget from All Sources Budget Obligated Funds Drawdown Match Contributed To Date $296, $296, $296, $296, Program Funds Drawdown $296, Program Income Drawdown Program Income Received Funds Expended Broward County Housing Finance and Community City of Hallandale Beach City of North Lauderdale Activity Description: Jan 1 thru Mar 31, 2015 N/A $296, As the County's primary strategy funded by the NSP allocation, this activity seeks to reverse the negative effects of foreclosed or abandoned homes upon Broward County neighborhoods by providing financing for the acquisition and redevelopment of these problematic properties. Beneficiaries will be low income (50% of AMI) and below only, who will receive title to the property along with a declaration of restrictive covenants which will specify the long-term affordability requirement of the property (30 years). It is expected that this strategy will provide safe, decent and affordable housing to a minimum of four (4) low income households. Location Description: To be located on scattered sites throughout the unicorporated County, and the urban County cities participating in Broward County's CDBG program. Sites will be prioritized according to HUD's foreclosure abandonment risk score. Activity Progress Narrative: $296,

10 Accomplishments Performance Measures # of Properties 0 # of Parcels acquired voluntarily 0 acquisition compensation to 0 Cumulative Actual / Expected 4/4 4/4 0/0 # of Housing Units 0 # of Singlefamily Units 0 Cumulative Actual / Expected 4/4 4/4 Beneficiaries Performance Measures Activity Locations No Activity Locations found. Cumulative Actual / Expected Low Mod Low Mod Low/Mod # of Households /4 0/0 0/4 0 Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found Other Funding Sources No Other Funding Sources Found Other Funding Sources Amount Project # / Title: 002 / Residential Rehabilitation Grantee Activity Number: Activity Title: 002 Single-family Rehabilitation Activitiy Category: Rehabilitation/reconstruction of residential structures Project Number: 002 Projected Start Date: 07/01/2009 Benefit Type: Direct ( HouseHold ) National Objective: NSP Only - LMMI Activity Status: Under Way Project Title: Residential Rehabilitation Projected End Date: 12/30/2013 Completed Activity Actual End Date: Responsible Organization: Broward County Housing Finance and Community 10

11 Overall Projected Budget from All Sources Budget Obligated Funds Drawdown To Date $5,072, $5,072, $5,072, $4,779, Program Funds Drawdown $2,299, Program Income Drawdown $2,479, Program Income Received Jan 1 thru Mar 31, 2015 N/A Funds Expended $442, $4,778, Broward Alliance for Neighborhood Development Broward County Housing Finance and Community City of North Lauderdale Match Contributed Activity Description: $4,092, $686, The strategy will provide housing rehabilitation services to a minimum of fifty-six (56) foreclosed upon single-family housing units. All housing units assisted will be rehabilitated to meet local housing codes as well as the County's housing rehabilitation standards. Upon completion of rehabilitation, the housing units will be sold to middle, moderate, or low income households and proceeds will be re-invested into additional housing rehabilitation activities. Location Description: To be located on scattered sites throughout the unincorporated County, and the Urban County cities participating in Broward County's CDBG program. Activity Progress Narrative: Rehabilitation and resale of two single family homes was completed this reporting period. Accomplishments Performance Measures # of Housing Units 0 # of Singlefamily Units 0 Cumulative Actual / Expected 57/55 57/55 Beneficiaries Performance Measures Cumulative Actual / Expected Low Mod Low Mod Low/Mod # of Households /10 27/16 54/ # Owner Households /10 27/16 54/ Activity Locations No Activity Locations found. 11

12 Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found Other Funding Sources No Other Funding Sources Found Other Funding Sources Amount 12

13 Grantee Activity Number: Activity Title: 009 Single-family Rehabilitation LH25% Activitiy Category: Rehabilitation/reconstruction of residential structures Project Number: 002 Projected Start Date: 07/01/2009 Benefit Type: Direct ( HouseHold ) National Objective: NSP Only - LH - 25% Set-Aside Activity Status: Under Way Project Title: Residential Rehabilitation Projected End Date: 12/30/2012 Completed Activity Actual End Date: Responsible Organization: Broward County Housing Finance and Community Overall Projected Budget from All Sources Budget Obligated Funds Drawdown To Date $197, $197, $197, $197, Program Funds Drawdown $194, Program Income Drawdown $2, Program Income Received Funds Expended Jan 1 thru Mar 31, 2015 N/A $197, Match Contributed Activity Description: The strategy will provide housing rehabilitation services to a minimum of four (4) foreclosed upon or abandoned single-family housing units. All housing units assisted will be rehabilitated to meet local housing codes as well as the County's housing rehabilitation standards. Upon completion of rehabilitation, the housing units will be occupied by low income (50% AMI and below) households. Location Description: To be located on scattered sites throughout the unincorporated County, and the Urban County cities participating in Broward County's CDBG program. Activity Progress Narrative: Accomplishments Performance Measures # of Properties 0 Cumulative Actual / Expected 4/4 13

14 # of Housing Units 0 # of Singlefamily Units 0 Cumulative Actual / Expected 4/4 4/4 Beneficiaries Performance Measures Cumulative Actual / Expected Low Mod Low Mod Low/Mod # of Households /4 0/0 4/ # Owner Households /4 0/0 4/ Activity Locations No Activity Locations found. Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found Other Funding Sources No Other Funding Sources Found Other Funding Sources Amount Project # / Title: 003 / Financing Mechanism (Soft-Second Mortgage) Grantee Activity Number: Activity Title: 003 Downpayment Assistance for Foreclosed Properties Activitiy Category: Homeownership Assistance to low- and moderate-income Project Number: 003 Projected Start Date: 07/01/2009 Benefit Type: Direct ( HouseHold ) National Objective: NSP Only - LMMI Activity Status: Under Way Project Title: Financing Mechanism (Soft-Second Mortgage) Projected End Date: 07/30/2013 Completed Activity Actual End Date: Responsible Organization: City of North Lauderdale Overall Jan 1 thru Mar 31, 2015 To Date 14

15 Projected Budget from All Sources Budget Obligated Funds Drawdown $754, $754, $754, $664, Program Funds Drawdown $633, Program Income Drawdown $30, Program Income Received N/A Funds Expended $664, Match Contributed Activity Description: $131, This activity will address financing gaps for those middle, moderate and low income homebuyers seeking to acquire foreclosed single family properties. Priority will be given to those individuals purchasing properties in the NSP funded Acquisition, Rehabilitation and Resale activity. The intent of this activity is to close the gap between what the first mortgage lender is willing to lend to the homebuyer, the homebuyer's out of pocket downpayment, and the sales price and closing costs of the home. Location Description: To be located on scattered sites throughout the unincorporated County, and the urban County cities participating in Broward County's CDBG program. Sites will be prioritized according to HUD's foreclosure abandonment risk score. Activity Progress Narrative: Accomplishments Performance Measures # of Housing Units 0 # of Singlefamily Units 0 Cumulative Actual / Expected 23/23 23/23 Beneficiaries Performance Measures Cumulative Actual / Expected Low Mod Low Mod Low/Mod # of Households /9 10/10 23/ # Owner Households /9 10/10 23/ Activity Locations No Activity Locations found. Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found 15

16 Other Funding Sources No Other Funding Sources Found Other Funding Sources Amount Project # / Title: 004 / Program Planning and Administration Grantee Activity Number: Activity Title: Activitiy Category: Administration Project Number: 004 Projected Start Date: 03/01/2009 Benefit Type: ( ) National Objective: N/A 006 Administration Activity Status: Under Way Project Title: Program Planning and Administration Projected End Date: 12/30/2013 Completed Activity Actual End Date: Responsible Organization: Broward County Housing Finance and Community Overall Projected Budget from All Sources Budget Obligated Funds Drawdown To Date $1,844, $1,844, $1,776, $1,235, Program Funds Drawdown $3, $1,053, Program Income Drawdown $35, $182, Program Income Received Funds Expended Broward County Housing Finance and Community Jan 1 thru Mar 31, 2015 N/A $39, $47, $47, $1,268, $1,268, Match Contributed Activity Description: Administrative and planning costs associated with the NSP grant. Location Description: Countywide, with administrative offices located at Broward County Housing Finance and Community Development Division, 110 NE 3rd Street, Fort Lauderdale, FL Activity Progress Narrative: 16

17 $47, was spent during the quarter for Administration and Planning Costs associated with the NSP3 grant. Accomplishments Performance Measures No Accomplishments Performance Measures Beneficiaries Performance Measures No Beneficiaries Performance Measures found. Activity Locations No Activity Locations found. Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found Other Funding Sources No Other Funding Sources Found Other Funding Sources Amount Project # / Title: 006 / Housing Redevelopment Grantee Activity Number: Activity Title: Activitiy Category: Construction of new housing Project Number: 006 Projected Start Date: 01/01/2012 Benefit Type: Direct ( HouseHold ) National Objective: NSP Only - LH - 25% Set-Aside 012 Housing Redevelopment Activity Status: Completed Project Title: Housing Redevelopment Projected End Date: 05/15/2012 Completed Activity Actual End Date: Responsible Organization: Broward Alliance for Neighborhood Development Overall Jan 1 thru Mar 31, 2015 To Date Projected Budget from All Sources N/A $217, Budget $217,

18 Obligated Funds Drawdown $217, $210, Program Funds Drawdown $17, Program Income Drawdown $192, Program Income Received Funds Expended $210, Match Contributed Activity Description: A single-family home was constructed on a site where a home in severe disrepair was demolished as part of this NSP1 Program. The home was constructed from foundation up. This home will be sold to a household at or below 50% of area median income with a long-term affordability requirement of 30 years. Location Description: Currently one home located at 2161 NW 28th Street, Oakland Park, FL has been constructed in this activity. This home is located in a single-family neighborhood in Oakland Park, Florida. Activity Progress Narrative: Accomplishments Performance Measures #Sites re-used 0 Cumulative Actual / Expected 1/1 # of Housing Units 0 # of Singlefamily Units 0 Cumulative Actual / Expected 1/1 1/1 Beneficiaries Performance Measures Cumulative Actual / Expected Low Mod Low Mod Low/Mod # of Households /1 0/0 1/ # Owner Households /1 0/0 1/ Activity Locations No Activity Locations found. Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found 18

19 Other Funding Sources No Other Funding Sources Found Other Funding Sources Amount Project # / Title: 007 / Multi & Single Family Residential Acquisition & Rehab Grantee Activity Number: Activity Title: 024 Multifamily Acquisition & Rehab: Property 10 Activitiy Category: Rehabilitation/reconstruction of residential structures Project Number: 007 Projected Start Date: 07/01/2010 Benefit Type: Direct ( HouseHold ) National Objective: NSP Only - LH - 25% Set-Aside Activity Status: Under Way Project Title: Multi & Single Family Residential Acquisition & Rehab Projected End Date: 12/30/2013 Completed Activity Actual End Date: Responsible Organization: BHP Community Land Trust, Inc. Overall Projected Budget from All Sources Budget Obligated Funds Drawdown $90, To Date $1,137, $1,137, $1,137, $1,137, Program Funds Drawdown $118, $798, Program Income Drawdown $122, $338, Program Income Received Funds Expended BHP Community Land Trust, Inc. Jan 1 thru Mar 31, 2015 N/A $90, $240, $165, $165, $1,137, $1,137, Match Contributed Activity Description: This activity seeks to reverse the negative effects of foreclosed or abandoned rental properties upon Broward County neighborhoods, while providing housing options for those households at or below 50% of area median income. This activity will provide funding for acquisition and rehabilitation of this property. The long-term affordability requirement of rental property assisted under this strategy is thirty (30) years. All housing units assisted will be rehabilitated to meet local housing codes as well as County rehabilitation standards. Upon completion of rehabilitation, the housing units will be rented to low income households. A sixteen (16) unit property was acquired and rehabilitated at 2417 NW 9th Avenue, Wilton Manors, Florida All the units are designated to be rented to low income households under this activity. 19

20 Location Description: One (1), sixteen (16) unit property located at 2417 NW 9th Avenue, Wilton Manors, Florida Activity Progress Narrative: Rehabilitation was completed during this quarter and $165, was expended. Lease up is nearly complete and beneficiary information will be entered the next quarter.. Tenant applications are being accepted and beneficiary information will be entered into this activity upon completion of rehabilitation and occupancy of the units. Accomplishments Performance Measures # of Properties 0 Cumulative Actual / Expected 1/1 # of Housing Units 0 # of Multifamily Units 0 Cumulative Actual / Expected 16/16 16/16 Beneficiaries Performance Measures No Beneficiaries Performance Measures found. Activity Locations No Activity Locations found. Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found Other Funding Sources No Other Funding Sources Found Other Funding Sources Amount Project # / Title: 008 / Multifamily Acquisition & Rehab for Resale Grantee Activity Number: Activity Title: 025 Multifamily Acquisition & Rehab, Resale: No. 1 Activitiy Category: Rehabilitation/reconstruction of residential structures Project Number: Activity Status: Under Way Project Title: 20

21 008 Multifamily Acquisition & Rehab for Resale Projected Start Date: 01/01/2011 Projected End Date: 06/30/2013 Benefit Type: Completed Activity Actual End Date: Direct ( HouseHold ) National Objective: Responsible Organization: NSP Only - LMMI City of Hallandale Beach Overall Projected Budget from All Sources Budget Obligated Funds Drawdown To Date $1,119, $1,119, $1,116, $1,116, Program Funds Drawdown $956, Program Income Drawdown $159, Program Income Received Funds Expended City of Hallandale Beach Jan 1 thru Mar 31, 2015 N/A $614, $1,116, $1,116, Match Contributed Activity Description: This activity seeks to reverse the negative effects of foreclosed or abandoned homes upon Broward County neighborhoods by providing financing for the acquisition and redevelopment of these problematic properties. Beneficiaries will be middle, moderate and low income homebuyers, who will receive title to the property along with a declaration of restrictive covenants which will specify the long-term affordability requirement of the property (15 years). It is expected that this strategy will provide safe, decent and affordable housing to a minimum of eight (8) middle, moderate, and low income households. Initial program dollars allocated to this activity will be realized as program income and re-invested in an activity and will create additional units of affordable housing until the prgram's end. Location Description: One (1) eight (8) unit property located at 840 NW 9th Street, Hallandale Beach, FL Activity Progress Narrative: 21

22 Accomplishments Performance Measures # of Properties 0 Cumulative Actual / Expected 1/1 # of Housing Units 0 # of Multifamily Units 0 Cumulative Actual / Expected 8/8 8/8 Beneficiaries Performance Measures Cumulative Actual / Expected Low Mod Low Mod Low/Mod # of Households /0 5/0 8/ # Owner Households /0 5/0 8/ Activity Locations No Activity Locations found. Other Funding Sources Budgeted - Detail No Other Match Funding Sources Found Other Funding Sources No Other Funding Sources Found Other Funding Sources Amount 22