10A Action 2007 0730 - Laserfiche WebLink

Home

Eden Housing Affordable Senior Housing July 30, 2007 60f6 Summary Of Advisory Committee Outreach Efforts The Joint Project Area Redevelopment Advisory Committee reviewed the proposed project at their April 4, 2007 meeting. While some members were concerned about residential development along East 14th Street, others noted that it was consistent with the East 14th Street South Area Strategy. Eden Housing, Inc., conducted two community meetings at McKinley Elementary School on March 7,2007 and April 18,2007 and has individually outreached to local community members as well. Fiscal Impact Of the $4 million loan from the City and Redevelopment Agency, (1) $1,385,000 from the City's federal HOME funds, (2) $637,000 from the City Affordable Housing Trust Fund, and (3) $1,978,000 from the Redevelopment Agency Low and Moderate Income Housing Fund. Bud2et Authority Budget authority for the Resolution comes from the Federal Home Investment Partnerships (HOME) Program (under Title II of the Cranston-Gonzalez National Affordable Housing Act, as amended), Affordable Housing Trust Fund (under the Zoning Code, Article 30, Inclusionary Housing) and San Leandro Redevelopment Agency Low and Moderate-Income Housing Fund (under California Redevelopment Law, Health and Safety Code Section 33000 et seq.). Attachments A. Sources and Uses B. Cash Flow Analysis C. HUD-Required Provisions Rider CONCLUSION Staff recommends that the City Council approve all applicable documents, findings and authorizations for provision of a $2,022,000 City loan and the Redevelopment Agency approve all applicable documents, findings and authorizations for provision of $1,978,000 to assist Estabrook Senior Housing, L.P., a California limited partnership in which Eden Housing, Inc., serves as General Partner, for the acquisition and construction of affordable senior rental housing at 2103-2121 East 14th Street.