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• The Agency approved fifteen loans under the FTHB down paymentlclosing cost assistance program which were a notable increase over the past few years, whereby the Agency had been approving an annual average of two loans. Eight of the total loans were for low-income and seven for moderate-income first-time homebuyers. To meet the increased loan demand, the City Council approved $161,000 in additional Set-Aside Funds in January 2008 for the program. • Under the FTHB Program, the Agency sponsored three free homebuyer education seminars for potential first-time buyers. Overall, there were 149 certificates of completion awarded to households completing the seminars. Through BAHBA the City also provided free one-on-one homebuyer counseling to 49 households [of which 37 were low- to moderate-income] who were San Leandro residents and/or employed in the City. • The Agency executed one inclusionary housing agreement with Arbor Place, a for-sale development located on Hays Street (not in a redevelopment project area). With City approval, the Arbor Place developer transferred one moderate income unit obligation to another of recently completed for-sale development called Toscani Place, which is located in the Plaza Redevelopment Project Area. In addition to the inclusionary homebuyer for the Toscani Place (via Arbor Place transfer) unit, there was only one other new inclusionary unit purchased in a redevelopment project area. This latter moderate income unit was part of the Cherry Park Square for sale development approved in the previous year and located in the MacArthur/West San Leandro Redevelopment Project Area. AGENCY LOAN STATUS The Agency has seven loans in excess of $50,000 that are active as of June 30, 2008. A summary of these loans, indicating the original loan amount, balance as of June 30, 2008, type of loan and status, is provided in the following table: Agency Loan Summary: June 30, 2008 Original Amount Current Balance T pe of Loan Status of Loan Creekside Assoc. LLC $1,348,301 $1,138,897 Economic Develo ment Current Merc Housin $584,000 $584,000 Housin Develo ment Current American Baptist Homes $1,887,538 $1,207,694 Housing Development Current Citizens Housin $300,000 $300,000 Housin Develo ment Current Eden Housin ,Inc. $1,226,000 $1,226,000 Housin Develo ment Current Sara Ro ers $95,580 $74,901 Housin Develo ment Current Allied Housin ,Inc. $538,067 $538,067 Housin Develo ment Current Ro er and Ma Tona $147,333 $147,333 Housin Develo ment Current Note: Most Housing Development loans are forgivable, with a set percentage "forgiven" every year until obligation is cleared.