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CITY OF SAN LEANDRO <br />CITY COUNCIL BUSINESS AND HOUSING DEVELOPMENT COMMITTEE <br />November 13, 2008 <br />4:00 p.m. - 5:30 p.m. <br />San Leandro City Hall <br />835 East 14th Street <br />San Leandro, California <br />Sister Cities Gallery <br />HIGHLIGHTS <br />Committee Members: Vice Mayor Stephens (Chair), Councilmember Grant, and <br />Councilmember Souza <br />City staff present: Interim Assistant City Manager Diaz, Community Development Director <br />Sims, Business Development Manager Battenberg, Housing Manager <br />Liao, Planning Manager Livermore, Senior Development Project <br />Specialist Penaranda and Project Specialist I Ricard <br />Public present: Chris Bellnomini (COR), Dan Martinez, Art May, Lydia Tan (Bridge <br />Housing), Sunny Tong (Westlake), Michael Wharton (COR) <br />The meeting was called to order at 4:00 p.m. <br />1. Discussion Regarding Financing and Assistance for BRIDGE Housing's Proposed San <br />Leandro Crossings West Affordable Housing Development. <br />Community Development Director Sims introduced the item and provided the Committee <br />with a brief background on WestlakeBridge housing project. Sims explained that though <br />there has been quite bit of discussion regarding the complex housing project, the fmancing of <br />the low-income housing portion of the project had not yet come before the Committee. <br />Housing Manager Liao explained that the 100 affordable units proposed by Bridge Housing <br />would include 25 one-bedroom units, 34 two-bedroom units and 41 three-bedroom units. In <br />addition to these units, the project will contain 100 space parking structure, a community <br />room with kitchen, community garden, children's play area, laundry rooms, etc. The total <br />project cost is estimated to be approximately $41 million dollars, of which the developer is <br />requesting $9.3 million in Redevelopment Set-Aside funding assistance. Liao explained that <br />this is a subsidy of approximately $93,000 per unit. This per unit cost is slightly higher than <br />other recent redevelopment housing projects, such as Casa Verde and the Estabrook Senior <br />Housing project. However, due to the larger family-oriented apartments being proposed, the <br />subsidy per square foot and per resident is substantially less than either the Casa Verde or <br />