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<br />San Leandro Shelter <br /> <br />July 30,2007 <br /> <br />BFWC requested these loan changes from the City and Redevelopment Agency to strengthen their <br />fiscal health as a small, non-profit organization. Showing less debt on their annual audits will allow <br />BFWC to be more competitive in fundraising and help enhance their capacity to borrow funds from <br />lenders for future projects. BFWC has provided a unique and needed service in the City over the <br />past seven years and, more importantly, has served over 750 women and children who have <br />received shelter, support services, and three meals per day. <br /> <br />In order to assist BFWC financially while still retaining control of the safe house property, staff <br />recommend the forgiveness of the $50,000 rehabilitation loan through Set-Aside funds in its <br />entirety, while amending the loan terms of the $180,000 CDBG acquisition loan from a 30-year <br />deferred and forgivable loan to an annually forgivable 30-year loan. Therefore, the end date for the <br />CDBG loan remains the same, July 1, 2029. Annual forgiveness of this acquisition loan begins on <br />June 7, 1999, the beginning of the loan date. <br /> <br />Current City Council Policy <br />N/A <br /> <br />Previous City Council Action(s) <br />In June 1999, the City Council approved the $180,000 CDBG acquisition loan to San <br />Leandro Shelter. <br /> <br />City Council Committee Review and Action <br />City staff presented the proposed changes to the Shelter's $180,000 acquisition loan and <br />$50,000 rehabilitation loan to the Business and Housing Development Committee on June <br />12,2007. <br /> <br />Applicable General Plan Policy <br />N/A <br /> <br />Permits and/or Variances Granted <br />N/A <br /> <br />Environmental Review <br />N/A <br /> <br />Code Compliance Review <br />N/A <br /> <br />Board/Commission Findin2:s <br />N/A <br /> <br />Summary Of Public Outreach Efforts <br />N/A <br />