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<br />LEVERAGING PLAN <br /> <br />For all housing and community development activities, San Leandro will support applications by <br />other entities to all public and private sources of financing that will improve the activities <br />outlined in the Five-Year Strategic Plan. Federal funds will be leveraged with local funds, <br />including those from Redevelopment Agency Housing Set-Aside. <br /> <br />MATCHING PLAN <br /> <br />Matching requirements of federal programs, such as HOME, will be satisfied with non-federal <br />sources. The HOME Program requires a 25 percent (25%) match to HOME-assisted projects. <br />Eligible sources of match include the value of waived fees, value of donated land, and cash from <br />a non-federal source such as Redevelopment Housing Set-Aside funds. <br /> <br />PUBLICLY-OWNED LAND <br /> <br />The City's Redevelopment Agency acquired the building and land formerly known as the <br />Islander Motel, which will be utilized for affordable housing. The Islander Motel Revitalization <br />Project will use only Redevelopment funds, so no HUD funds will be involved in this project. <br />The City or the Agency may consider purchasing other land, which would be "banked" for a <br />housing project in the near future. In 2005, the City's Redevelopment Agency purchased the <br />Islander Motel, a 6S-unit, three-story property to be developed into permanent affordable rental <br />housing. Mercy California is the project developer and long-term property manager. <br /> <br />Draft Action Plan - FY2007-08 <br />City of San Leandro <br />Page 6 <br />