January 1, 2010 thru March 31, 2010 Performance Report

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1 Grantee: Kokomo, IN Grant: B-08-MN January 1, 2010 thru March 31, 2010 Performance Report

2 Grant Number: B-08-MN Grantee Name: Kokomo, IN Grant : $2,181, Grant Status: Active Obligation Date: Award Date: Contract End Date: Review by HUD: Original - In Progress QPR Contact: Jerry Meiring Disasters: Declaration Number NSP Plan Description: Using data provided by the U.S. Department of Housing and Urban Development, the following Block Groups in the City of Kokomo were determined to be areas of greatest need for the NSP program. They were selected to be targeted based on the greatest percentage of home foreclosures, the highest percentage of homes financed by a subprime mortgage related loan HMDA high cost loan rate, and being identified as likely to face a significant rise in the rate of home foreclosures within 18 months. CT2 - BG1, BG2 BG3 CT3 - BG1, BG2, BG3 CT4 - BG1, BG2, BG3 CT5 - BG1, BG2, BG3, BG4 CT6 - BG1 CT9 - BG1, BG2, BG3, BG4 CT10 - BG1, BG2 CT12 - BG1, BG2, BG3 CT13 - BG2 (partial) CT15 - BG1 Recovery Needs: Within the targeted areas, NSP funds will be used to: 1) Purchase and rehabilitate homes and residential properties that have been abandoned or foreclosed upon in order to sell, rent, or redevelop such homes and properties ($1,395,000 allocated). 2) Establish financing mechanisms for purchase and redevelopment of foreclosed upon homes and residential properties, including such mechanisms as soft-seconds, loan loss reserves, and shared-equity loans for low- to middle-income homebuyers ($315,127 allocated). 3) Establish financing mechanisms for purchase and redevelopment of foreclosed upon homes and residential properties, including such mechanisms as soft-seconds, loan loss reserves, and shared-equity loans for landlords who will be required to rent primarily to individuals or families at or below 50 percent of area median income ($252,853) allocated). Affordability will be maintained for periods of five, ten or fifteen years determined by the amount of funds invested. $2,181, $2,181, $540, $876, $635, $1,624, $966, $1,061,144.87

3 Progress Toward Required Numeric Targets Requirement Required Minimum Benefit Percentage 99.99% Minimum Non-Federal Match Limit on Public Services $327, Limit on Admin/Planning $218, Limit on State Admin 0.00% $109, Progress Toward Activity Type Targets Progress Toward National Objective Targets Progress Narrative: At the end of this quarter, the Kokomo NSP has purchased a total of 14 properties (single-family homes) in through its partnership with Mecca Companies, Inc. Nine (9) of the 14 homes have been targeted for homeownership opportunites, while the other 5 are currently targeted as potential investor/rental properties. A 15th property was targeted for purchase, but the closing had to be cancelled due to problems with the property inspection. Homes targeted as owner-occupied, homeownership properties: 1205 S. Armstrong, 1202 N. Webster, 1607 N. McCann, 1406 Nicholas, 3609 Oakhurst, 1403 Nicholas, 614 S. Courtland, 1701 S. Washington, and 504 Santa Fe Blvd. Homes targeted as investor/rental properties: 900 E. Richmond, 1018 E. Walnut, 1405 N. Purdum, 809 E. Vaile, and 1121 S. Elizabeth. Of the 14 properties, 11 were under contract for rehabilitation in February, and phased rehabiliation work is currently underway. The remaining 3 homes were under contract for rehabilitation at the end of this quarter, with construction just beginning. Two (2) construction draws were processed on 8 properties, with 2 homes nearing completion. The City and Mecca have also been doing outreach and processing applications for potential homebuyers, and setting up interviews for income qualification. Three (3) potential homebuyers have thusfar been identified and are bringing in needed documentation. Project Summary Project #, Project Title Program Funds Drawdown Project Funds Budgeted Program Funds Drawdown 1, Acquisition and Rehabilitation $430, $1,042, $461, , Home Purchase $315, , Rental Acquisition/Rehabilitation $70, $605, $99, , Administration $39, $218, $74, , Restricted Balance

4 Activities A1 Owner Project S. Armstrong 1 12/18/2009 NSP Only - LMMI Under Way Acquisition and Rehabilitation 03/31/2010 $6, $82, $91, $91, $122, $122, $16, $122, $101, $101, Property acquistion and rehabilitation S. Armstrong, Kokomo, Indiana Property at 1205 S. Armstrong acquired by Mecca Companies, Inc. and is currently under contract for rehabilitation. 2 construction draws have been made, and rehab. is approx. 50% complete. # of Properties # of housing units No found.

5 No Found Total

6 A2 Owner Project N. Webster 1 12/18/2009 NSP Only - LMMI Under Way Acquisition and Rehabilitation 03/31/2010 $50, $130, $151, $151, $170, $170, $71, $170, $172, $172, Property acquisition and rehabilitation N. Webster Street, Kokomo, Indiana Rehabilitation contracts were signed in February. Two construction draws have been processed on this property, which was nearing completion at the end of this quarter. # of Properties # of housing units No found.

7 No Found Total A3 Owner Project N. McCann Street 1 01/15/2010 NSP Only - LMMI Under Way Acquisition and Rehabilitation 04/30/2010 $21, $58, $21, $21, $98, $98, $21, $98, $21, $21, Property acquisition and rehabilitation N. McCann, Kokomo, Indiana Project at 1607 N. McCann is currently under contract for rehabilitation. Limited activity thusfar. # of Properties # of housing units No found.

8 No Found Total

9 A4 Owner Project Nicholas Court 1 01/15/2010 NSP Only - LMMI Under Way Acquisition and Rehabilitation 04/30/2010 $76, $72, $108, $108, $112, $112, $76, $112, $108, $108, Property acquisition and rehabilitation Nicholas Ct, Kokomo, Indiana Property at 1406 Nicholas Ct. under contract for rehabiliation in February. 2 construction draws processed, project is nearing completion at the end of this quarter. # of Properties # of housing units No found.

10 No Found Total A5 Owner Project Oakhurst 1 01/22/2010 NSP Only - LMMI Under Way Acquisition and Rehabilitation 04/30/2010 $59, $125, $114, $114, $125, $125, $59, $125, $114, $114, Acquisition and rehabilitation of 3609 Oakhurst Drive by Mecca Companies, Inc., through NSP Holdings, LLC Oakhurst Drive, Kokomo, IN Contract for rehabilitation of 3609 Oakhurst signed in February, currently under construction. 2 construction draws processed, project was nearing completion at end of quarter. # of Properties /0 0/0 1/1 # of housing units /0 0/0 1/1 No found.

11 No Found Total

12 A6 Owner Project Nicholas Court 1 01/29/2010 NSP Only - LMMI Under Way Acquisition and Rehabilitation 04/30/2010 $69, $108, $69, $69, $108, $108, $69, $108, $69, $69, Acquisiton and rehabilitation of property Nicholas Court, Kokomo, IN Contract for rehabilitation of 1403 Nicholas Ct. signed in February, and construction is underway. One construction draw has been processed, and the project is about 50% complete. # of Properties /0 0/0 1/1 # of housing units /0 0/0 1/1 No found.

13 No Found Total A7 Owner Project S. Courtland Ave. 1 01/29/2010 NSP Only - LMMI Under Way Acquisition and Rehabilitation 04/30/2010 $27, $101, $27, $27, $101, $101, $27, $101, $27, $27, Acquisition and rehabilitation of 614 S. Courtland Ave. 614 S. Courtland Avenue, Kokomo, IN The property at 614 S. Courtland was purchased, and the contract for rehabilitation was signed at the end of the quarter. Construction is yet to begin. # of Properties /0 0/0 1/1 # of housing units /0 0/0 1/1 No found.

14 No Found Total

15 1 02/12/2010 NSP Only - LMMI A8 Owner Project S. Washington Street Under Way Acquisition and Rehabilitation 04/30/2010 $33, $107, $33, $33, $107, $107, $33, $107, $33, $33, Acquisition and rehabilitation of 1701 S. Washington Street S. Washington, Kokomo, IN The property at 1701 S. Washington was purchased, and the contract for rehabilitation was signed at the end of the quarter. Construction is yet to begin. # of Properties /0 0/0 1/1 # of housing units /0 0/0 1/1 No found.

16 No Found Total A9 Owner Project Santa Fe Blvd. 1 03/05/2010 NSP Only - LMMI Planned Acquisition and Rehabilitation 05/31/2010 $84, $94, $84, $84, $94, $94, $84, $94, $84, $84, Property acquisition and rehabilitation- planned. 504 Santa Fe Blvd, Kokomo, IN The property at 504 Santa Fe Blvd. was purchased, and the contract for rehabilitation was signed at the end of the quarter. Construction is about to begin. # of Properties /0 0/0 1/1 # of housing units /0 0/0 1/1 No found.

17 No Found Total

18 C Home Purchase- DPA Homeownership Assistance to low- and moderate-income 2 09/01/2009 NSP Only - LMMI Planned Home Purchase 03/13/2013 City of Kokomo City of Kokomo $315, $315, Downpayment assistance to homebuyers at or below 120% of AMI to purchase foreclosed-upopn properties that have been rehabilitated. No activity...upon consultation with Mecca Companies, HUD and a technical assistance consultant, the City plans to reallocate the funds to other existing activities. By changing the financial structuring of how downpayment assistance is applied, the City will be able to obligate the remaining funds more efficiently. # of Properties /0 0/0 0/15 # of housing units /0 0/0 0/15 # of Households benefitting /0 0/0 0/15 No found.

19 No Found Total D Rental Acquisition/Rehabilitation - VOID 3 09/01/2009 NSP Only - LH - 25% Set-Aside Planned Rental Acquisition/Rehabilitation 03/13/2013 Investor/Landlord ($110,008.00) Downpayment and rehabilitation assistance to landlords who will rent to persons with household income at or below 50% area median income. No found. No found.

20 NSP Total

21 D1 Rental Project E. Richmond 3 12/18/2009 NSP Only - LH - 25% Set-Aside Under Way Rental Acquisition/Rehabilitation 03/31/2010 $1, $32, $32, $117, $117, $22, $55, $53, $53, Property acquisition and rehabilitation, targeted for resale to investor/landlord. 900 E. Richmond, Kokomo, Indiana The property at 900 E. Richmond was purchased, and the Contract for rehabilitation was signed in February. 2 construction draws have been processed, and the project is about 50% complete. The property is intended for sale to an investor as a rental unit. # of Properties # of housing units No found.

22 No Found Total D2 Rental Project E. Walnut 3 12/18/2009 NSP Only - LH - 25% Set-Aside Under Way Rental Acquisition/Rehabilitation 03/31/2010 $1, $21, $21, $111, $111, $9, $55, $29, $29, Property acquisition and rehabilitation, targeted for resale to investor/landlord E. Walnut Street, Kokomo, Indiana The property at 1018 E. Walnut was purchased, and the Contract for rehabilitation was signed in February. 2 construction draws have been processed, and the project is about 50% complete. This property is currently targeted for sale to an investor as a rental unit. # of Properties /0 0/0 1/1 # of housing units /0 0/0 1/1

23 No found. No Found Total

24 D3 Rental Project N. Purdum Street 3 01/15/2010 NSP Only - LH - 25% Set-Aside Under Way Rental Acquisition/Rehabilitation 04/30/2010 $12, $12, $12, $88, $88, $12, $55, $12, $12, Property acquisition and rehabilitation, targeted for resale to investor/landlord N. Purdum Street, Kokomo, Indiana The property at 1405 N. Purdum was purchased, and has been initially targeted as a potential investor/rental property. The Contract for rehabilitation was signed in February, but construction has not yet begun. # of Properties # of housing units No found.

25 No Found Total D4 Rental Project E. Vaile Ave. 3 01/15/2010 NSP Only - LH - 25% Set-Aside Under Way Rental Acquisition/Rehabilitation 04/30/2010 $25, $42, $42, $143, $143, $25, $55, $42, $42, Property acquisition and rehabilitation, targeted for resale to investor/landlord. 809 E. Vaile Ave, Kokomo, Indiana The property at 809 E. Vaile was purchased, and the Contract for rehabilitation was signed in February. 2 construction draw were processed, and the project is about 25% complete. This property is currently planned for sale to an investor as a rental unit. # of Properties # of housing units 0 0 1

26 No found. No Found Total

27 D5 Rental Project S. Elizabeth Street 3 01/15/2010 NSP Only - LH - 25% Set-Aside Under Way Rental Acquisition/Rehabilitation 04/30/2010 $13, $75, $63, $63, $115, $115, $14, $115, $63, $63, Property acquisition and rehabilitation, targeted for resale to investor/landlord. Note: Originally set-up under "Activity A"-LMMI, was intended for "Activity D"- LH 25% setaside S. Elizabeth Street, Kokomo, Indiana The property at 1121 S. Elizabeth was purchased, and the Contract for rehabilitation was signed in February. 2 construction draws have been processed, and the project is about 50% complete. The home is currently planned for sale to an investor as a rental unit. # of Properties # of housing units No found.

28 No Found Total D6 Rental Project N. Armstrong 3 03/05/2010 NSP Only - LH - 25% Set-Aside Planned Rental Acquisition/Rehabilitation 05/31/2010 $15, $27, $15, $15, $27, $27, $15, $27, $15, $15, Acquisition and rehabilitation of property- planned N. Armstrong, Kokomo, IN PROJECT CANCELLED. The property at 2301 N. Armstrong was originally planned for purchase, rehabilitation and resale to an investor as rental unit. Although funds for the purchase were drawn down, the closing had to be cancelled due to problems with the property inspection. Some funding obligations had to be met, and the unused funds are now in the process of being wire transferred back to LOCCS. # of Properties /0 0/0 0/1 # of housing units /0 0/0 0/1

29 No found. No Found Total

30 E Administration Administration 4 02/13/2009 Under Way Administration 02/13/2013 City of Kokomo City of Kokomo $39, $74, $74, $218, $218, $74, $218, $109, $109, Administration of NSP program City Hall 100 S. Union Street Kokomo, IN No found. No found. No Found Total

January 1, 2015 thru March 31, 2015 Performance Report

Grantee: Grant: West Palm Beach, FL B-08-MN-12-0030 January 1, 2015 thru March 31, 2015 Performance Report 1 Grant Number: B-08-MN-12-0030 Grantee Name: West Palm Beach, FL Grant Award Amount: $4,349,546.00