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<br />the property for their catering business. It is estimated that the total project cost for the proposed <br />interior and exterior renovations will be in excess of $200,000. The new owners have requested <br />$50,000 in Agency funding to assist them in completing all exterior improvements including, but <br />no~ limited to: new exterior walls, stucco, awnings, signs, brick veneer, windows, doors, <br />wrought iron fencing, and an elevated fas:ade to screen rooftop mechanical equipment. A <br />rendering of the proposed improvements is provided as Attachment No.1. As permitted by the <br />previously approved Commercial Rehabilitation Program, Agency staff recommends entering <br />into an OP A with the current owners of 599 MacArthur and assisting with the redevelopment of <br />the property through the means of $50,000 in Agency funds. If approved, $50,000 will be <br />granted in the form of a 10-year forgivable loan. The Agency will hold a Deed of Trust and <br />Promissory Note which, if the owners of 599 MacArthur Boulevard comply with all provisions <br />set forth in the agreement throughout the life of the agreement, will be released at the end of 10 <br />years. <br /> <br />Current Redevelopment Aeency Policy <br />. Chapters 3.12.020 and Chapter 3.12.030 of the City of San Leandro Redevelopment Plan <br />for the West San LeandrolMacArthur Boulevard Redevelopment Project Area supports <br />and defInes Agency action(s) regarding Owner Participation in Redevelopment. <br />. The 2004-2009 Project Area Implementation Plan targets this section of MacArthur <br />Boulevard for Agency Commercial Rehabilitation Assistance. <br /> <br />Previous Redevelopment Aeencv Action(s) <br />N/A <br /> <br />City Council/Redevelopment Aeency Committee Review and Action <br />The Business and Housing Development Committee received an update on this item on <br />Thursday, February 8,2007 and were supportive of the proposed project. <br /> <br />Applicable General Plan Policy <br />. Policy 7.06 - Adaptive Re-use - Encourage private investment in vacant or underutilized <br />industrial and commercial real estate to adapt such property to changing economic <br />needs. <br /> <br />. Policy 43.09 - Commercial Reinvestment - Provide incentive programs that encourage <br />reinvestment in the City's commercial properties, especially older shopping centers, <br />vacant businesses, and outdated or blighted structures. <br /> <br />Permits and/or Variances Granted <br />N/A <br /> <br />Environmental Review <br />The proposed project is categorically exempt under CEQA section 15302. <br /> <br />Code Compliance Review <br />N/A <br /> <br />Board/Commission Findines <br />N/A <br /> <br />G:\DEPT\Office of Business Development\Files RDA \RDA Loans\599 MacArthur - the white house\Final\599MacArthurStaff ReportRDA.doc <br />