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<br />· The Office of Business Development continues to work on the final phase <br />of the Marina Boulevard Auto Mall, including a proposed new Suzuki <br />dealership and attraction of a new dealer for a remaining parcel. <br /> <br />· The Agency continues to work with the private developer of Creekside <br />Plaza, the City's first Class A office complex, on predevelopment <br />marketing of the expanded third and final building in the Creekside Plaza <br />office complex. <br /> <br />· The Agency will be involved in new development projects on East 14th <br />Street as opportunities arise with property owners and with the on-going <br />renovations of Bayfair Center. <br /> <br />· The Agency acquired the site of an abandoned car dealership at 13889 <br />East 14th Street for the development of a designated Senior Center. <br />Planning and site work is underway. The old and vacant showroom is <br />scheduled for demolition in 2006. <br /> <br />· With demand anticipated to be comparable to 2005-06 for staff support for <br />Agency activities, similar proportions of salaries and benefits for the Office <br />of Business Development will be charged to the Redevelopment Agency <br />in Fiscal Year 2006-07. <br /> <br />Agency Loan Status <br /> <br />The Agency has three loans in excess of $50,000 that are active as of June 30, <br />2006; and one loan was paid off during the fiscal year. The summary of these <br />loans indicating the original loan amount, balance as of June 30, 2006, type of <br />loan and status is provided in the following table: <br /> <br /> Agency Loan Summary: June 3D, 2006 <br />-.- ~~.,- Type of Loan <br /> Original A"!,?unt Current Balance Status of Loan <br />Creekside $1,100,000 $1,100,000 Economic Current <br />Associates LLC Development <br /> -,- -- <br />Creekside $248,301 $248,301 Economic Current <br />Associates LLC Development <br />r------;-- ---."- <br />KII Hoon Jung, $154,818 $78,360 Economic Current <br />et al. Development <br />1-----" ~,~- Residential Paid off in <br />Mission Bell $118,500 $0 <br />~eartments, Inc Rehabilitation 2005-06 <br />