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BusHsgDev Highlights 2008 0710
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BusHsgDev Highlights 2008 0710
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8/29/2008 9:39:06 AM
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8/29/2008 9:39:06 AM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Committee Highlights
Document Date (6)
7/10/2008
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_CC Agenda 2008 0902
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Path:
\City Clerk\City Council\Agenda Packets\2008\Packet 2008 0902
RDA MO 2008-002
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Path:
\City Clerk\City Council\Minute Orders\2008
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with businesses and property owners to complete high quality projects has been slower than <br />expected; however, the Agency has many projects in the planning and pre-construction phase. <br />Ricard highlighted a few recently completed projects which included Bay-o-Vista Realty, <br />White House Catering and Sonoma's Restaurant on Macarthur Boulevard and Tsuru Sushi, and <br />Planet Coffee in the downtown. In addition the Agency is in the late planning stages with <br />Robert Jones and Associates, San Leandro Car Wash and the Masonic Temple. <br />Ricard informed the Committee that when the City Council adopted the Facade lmprovement <br />Program in June 2007, the Agency was granted administrative approval of loans of up to <br />$10,000. In order to streamline future projects such as Robert Jones and Associates, staff <br />recommends the Committee allow approval by the Executive Director for loans up to <br />$25,000 which also requires an Owner Participation Agreement. The Committee expressed <br />their support for the program and felt it was important to make the loan process efficient as <br />possible for potential applicants. <br />The Committee recommends that the Agency approve a minor amendment to the <br />Commercial Facade Improvement Program to allow the Executive Director to <br />administratively approve loans of up to $25,000. <br />5. Update on Development Projects: <br />a. Joint Project Area Bond. Business Development Manager Battenberg informed the <br />Committee the Redevelopment Agency was successful in their issuance of a Tax <br />Allocation financed bond with net proceeds of $25.2 million. These funds have been <br />allocated for the construction of the senior community center and downtown parking <br />garage. <br />b. Redevelopment of former Target at 15555 Hesperian Boulevard. Community <br />Development Director Sims explained that Wal-Mart has received all necessary building <br />permits and will begin the tenant improvements to the former Target building soon with <br />an expected opening date of October, 2008. Sims also noted that In-N-Out Burger is <br />under construction and plans to open in the late summer 2008. <br />6. Public Commeuts: None <br />7. Adjourn: The meeting adjourned at 5:25 p.m. <br />
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