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FINANCING AGREEMENT <br />This FINANCING AGREEMENT (this "Agreement") is entered into <br />effective as of February 9, 2009 ("Effective Date") by and between the San <br />Leandro Unified School District, a public school district (hereafter "School <br />District") and the Redevelopment Agency of the City of San Leandro, a public <br />body, corporate and politic (the "Agency"). The School District and Agency are <br />hereinafter collectively referred to as the "Parties." <br />RECITALS <br />A. Pursuant to the authority granted under the Community Redevelopment <br />Law (California Health and Safety Code Section 33000 et seq.) ("CRL"), the <br />Agency has responsibility to implement the redevelopment plan for the <br />Alameda County-City of San Leandro (Joint) Redevelopment Project Area (the <br />"Project Area") adopted in 1993 by the City Council of the City of San Leandro <br />(as subsequently amended, the "Redevelopment Plan"). <br />B. School District owns the property consisting of approximately 2.68 acres <br />located in the Project Area at 13701 Bancroft Avenue (the "Property"). <br />C. School District desires to redevelop the Property and construct thereon a <br />project known as the "9~ Grade Campus" which includes athree-story <br />classroom building, a cafeteria, a gymnasium (the "Gymnasium") and related <br />infrastructure and public improvements (all of the foregoing, collectively, the <br />"Project"). <br />D. Pursuant to Section 10910 of the California Education Code, the School <br />District may grant the use of school grounds to any public authority for the <br />purpose of organizing, promoting and conducting programs of community <br />recreation so long as such use does not interfere with the use of the school <br />grounds for school purposes. <br />E. Redevelopment of the Property and development of the Project will <br />eliminate blight in the Project Area, complement other public facilities in the <br />vicinity, and increase patronage at nearby retail establishments. <br />F. Pursuant to a Joint Use Agreement to be executed by and between the <br />School District and the City of San Leandro, a municipal corporation ("City") <br />substantially in the form attached hereto as Exhibit A and incorporated herein <br />by reference (the "Joint Use Agreement"), City shall be granted certain rights <br />to use the Gymnasium for public recreational activities on weekends, holidays <br />and at other times outside of regular school hours. <br />G. Subject to the terms of this Agreement, Agency has agreed to provide <br />financial assistance for the development of the Project. <br />1187216-i 1 <br />