|
Table 11. Ten-Year LMHF Expenditure Plan
<br /> 2004-OS 2005-OS 2005-07 2007-08 2008-09 2009-t0 2010-€ l 201 L-l2 2012-13 2013-14
<br />Fund Balance $2,880,000
<br />Revenues
<br />Tax Increment $1,420,000 $1,460,000 $1,570,000 $1,630,000 $1,690,000 $1,740,000 $1,790,000 $€,840,000 $1,900,000 51,9b0,000
<br />loan $80,000 $80,000 $80,000 $80,000 $40,000 $90,000 $90,000 $90,000 $100,000 $100,000
<br />Rea ents
<br />Total Revenues $1,500,000 $1,540,000 $1,650,000 $1,71Q,OOD $1,780,000 $1,830,000 $1,880,000 $1,930,000 $2,000,000 $2,060,000
<br />Revenues Plus $4,380,000 $1,540,000 $1,b50,000 $1,710,000 $1,780,000 $1,830,000 $1,880,000 $1,930,000 $2,000,000 $2,060,000
<br />Fund Balance
<br />Ex enditures
<br />Admin $390,000 $340,000 $350,000 $3b0,OD0 $360,000 5370,Ob0 $380,000 $39QOD4 $400,000 $400,000
<br />Debt Service $140,000 $130,000 $130,000 $130,000 $130,000 $130,000 $130,000 $]30,000 $130,000 $130,000
<br />(HUD Loan)
<br />Reimbursement $60,000 $b0,000
<br />of Bayfair
<br />Overpayment
<br />Pro ams
<br />Housin Rehab $400,000 $400,000 $400,000 $400,000 $400,000 $450,000 $454,000 $45Q000 $450,000 $450,000
<br />Housing Rehab $90,000
<br />Carryover
<br />First Time $200,000 $200,000
<br />Home Buyer
<br />Assistance
<br />First Time $230,000
<br />Home Buyer
<br />Carryover
<br />Apartment $200,000
<br />Rehab
<br />Apartment $40Q000
<br />Rehab
<br />Ca over
<br />New $2, € 70,000 $4 L 0,000
<br />Develo ment
<br />Nonprofit $100,000
<br />Predevelopment
<br />Assistance
<br />Total $4,380,000 51,540,000 $1,650,000 $1,710,000 $1,']80,000 $1,830,000 51,88Q000 $1,930,000 $2,000,000 $2,060,000
<br />Balance - - - - - - - - - -
<br />Source: Sars Leandro Redevelopment ~Igency.
<br />Housing Program
<br />The goals of the housing program are, as stated in the beginning of this section, to increase the
<br />number of affordable housing units for young adults, singles and large families and close the
<br />affordable housing gap by increasing the number of affordable units, rents, or sale prices, to
<br />assist seniors to age in the homes they own, and to rehabilitate existing housing stock. The
<br />strategy is illustrated in Table 12 on the next page, which indicates annual expenditures on each
<br />program.
<br />The strategy to implement these goals uses a variety of funding sources. The Agency has the
<br />capacity to issue bonds and/or certificates of participation against future set-aside tax increment
<br />revenue. This is under serious consideration and a determination is expected in 2005. The
<br />primary non-Agency funds referenced in the Housing Program are HOME (funds from the U.S.
<br />Department of Housing and Urban Development funneled through the Alameda County HOME
<br />Consortium, of which San Leandro is a member} and the San Leandro Housing Finance
<br />Authority. (The Authority funded a project in the County unincorporated area; HUD repaid the
<br />funds under authorization of the Federal McKinney Act; the Authority may only use the funds
<br />2004-2009 Implementation Plan
<br />Page 23
<br />
|