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At the fund level, total revenue for fiscal year 2005-06 were $11.7 million, of which 64.5% was tax increment revenue, 21.1% was operating transfers in, and 14.4% was interest and other income. Total expenditures for fiscal year 2005-06 was close to $18.2 million: $12.3 million represented community development projects (from which $5.7 million was for affordable housing projects) and $5.9 million went for payments oflong-term debt and transfers. The Agency's investment in capital assets as of June 30, 2006, amounted to $7.4 million, which is an increase of $5.5 million. Investment in capital assets includes land and construction in progress. During the year, the low and moderate housing fund purchased property that will be converted into 68-units of affordable apartment housing. Additional information on the Agency's capital assets can be found on Note 6 on the notes to the financial statements. At the end of the current fiscal year, the Agency's total long-term debt outstanding is $31.3 million, a decrease of $1.5 million from the prior fiscal year. This net decrease primarily reflects the retirement of principal. The Agency also had $7.4 million in outstanding advances from the City. Additional information on the Agency's debt and advances from the City can be found on Note 8 and Note 7, respectively, on the notes to the financial statements. ECONOMIC DEVELOPMENT AND COMMERCIAL REVITALIZATION The Agency is active in three redevelopment project areas: the Alameda County ~ City of San Leandro Project Area (also known as the "Joint" Project Area), the Plaza Project Area and the West San LeandrolMacArthur Boulevard Project Area. The Agency is also active in funding affordable housing activities throughout the city. Pursuant to Health and Safety Code Section 33080.1 (d), selected accomplishments for Fiscal Year 2005-06 include: · The Agency completed constmction on the East 14th Street portion of improvements in and around the San Leandro Plaza. These improvements included public parking upgrades, strcctscape enhancements and pedestrian and lighting amenities. The project is scheduled to be completed in 2007-08. · Construction was completed on the aesthetic improvements to the downtown's pedestrian connection to the BART station, including new pedestrian scale lighting, undergrounding of utilities and other streetseape improvements. Public art, in the form of the San Leandro History Walk, is anticipated for installation in 2006. · Also in the Plaza, plans for the professional office complex to be built on the former Agency property on Davis Street were approved and construction is scheduled for completion in 2006~07. This project will bring more office space within 1/3 mile of BART and literally removes blight in the project area. · Also on Davis Street, across the street from the new professional office complex, a vacant parcel sold by the Agency in 2004 was developed into nine quality townhomes. The townhomes were completed in 2006 and are expected to sell for upwards of $600,000. · In the Joint Project Area, Palma Plaza, a neighborhood shopping center destroyed by multiple fires in 2000 and 2001, was updated into a vibrant two-building commercial 6