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<br />SECTION B: INVESTMENT OF AVAILABLE RESOURCES <br /> <br />Objective: Provide Decent Housinf?: <br /> <br />Priority #1. Increase the availability of affordable rental housing for <br />extremely low-, very low-, low-, and moderate-income families. <br /> <br />Activities: <br /> <br />. New construction of affordable housing <br />No new affordable housing developments were constructed this fiscal year. However, the City <br />continues to promote and assess housing opportunity sites with prospective for-profit and non- <br />profit developers. Ongoing discussions about City funding for land acquisitions and new <br />construction of 51 units of affordable senior rental housing by Eden Housing, Inc., a non-profit <br />developer, have occUlTed and City Council funding approval is expected to take place in late July <br />2007. <br /> <br />. Acquisition and rehabilitation of affordable housing <br />Islander Motel/Casa Verde Rehabilitation: The City has been working closely with <br />Mercy Housing Corporation (MHC), the developer and property manager for the <br />Islander Motel, now known as Casa Verde, a 68-unit property that is being <br />transformed from a motel into permanent affordable rental housing. These units will <br />count as new affordable housing units produced by the City, because they changed <br />from commercial (e.g., motel) to residential use. MHC began rehabilitation in <br />February 2007 and will be accepting tenant applications during the fall of2007. This <br />proposal will assist very low- and extremely low-income renters. No HUD funds <br />were used on this project. <br /> <br /> <br />Final Consolidated Annual Performance and Evaluation Report: FY2006-2007 <br />City of San Leandro <br />Page 4 <br />