8C Consent 2009 0217 - Laserfiche WebLink

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Estabrook Senior Housing Amendment February 17, 2009 3 of 3 Goal 53: Affordable Housing Development, Policy 53.05 -New Rental Housing Strongly encourage the development of additional rental housing in the City, including both market rate units and affordable units. Goa157: Special Needs Populations, Policy 57.01-Senior Housing In accordance with the needs analysis conducted as part of this Housing Element, encourage the production of housing targeted to San Leandro seniors. Permits and/or Variances Granted Not applicable. Environmental Review Pursuant to National Environmental Protection Act (NEPA), the appropriate level of environmental review for the proposed Eden Senior Housing project has been completed and no further NEPA review is needed. This project is also categorically exempt from the California Environmental Quality Act (CEQA) per CEQA Guidelines Article 19, Categorical Exemption, Section 15332. Code Compliance Review Not applicable. Board/Commission Findings Not applicable Summary Of Advisory Committee Outreach Efforts Not applicable Fiscal Impact No fiscal impact. The amendment to the Agency loan involves an interest rate reduction and does not involve allocation of any additional Redevelopment Set-Aside beyond the $1.978 million loan approved for the project in July 2007. Budget Authority Budget authority for the Resolution comes from San Leandro Redevelopment Agency Low and Moderate-Income Housing Fund (under California Redevelopment Law, Health and Safety Code Section 33000 et seq.). CONCLUSION Staff recommends that the Redevelopment Agency of the City of San Leandro (Agency) adopt the resolution authorizing 1) an -amendment to the previously authorized Agency loan to Estabrook Senior Housing, L.P., for a low income senior housing project, and 2) the execution of documents in connection with such amendment.