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HUD Section 108 Loan Guarantee Program Application for Senior Center Applicant: Ciry of San Leandro "Authority to Use Grant Funds" in August 2004. Prior to FY 2004-05, the City completed required documentation to determine that the CDBG-funded planning and preliminary design of the senior center were exempt activities under HUD environmental regulations. 2. Sources and Uses The total Phase 2 project cost to construct the senior center is about $15.5 million. The funding sources are proceeds from City Redevelopment Agency financed tax increment bond, HUD Economic Development Initiative (EDI) Program, City CDBG Program, City Capital Improvement (CIP) funds, and Section 108 loan proceeds. Except for Section 108 loan funds, which the City is preparing to apply through this application, all the other funding sources have previously been allocated and available to Phase 2, which started construction in October 2008. Below is a summary of the funding sources to date: Source Amount Activit CDBG $673,500 Sr. Ctr construction HUD EDI $341,224 Sr. Ctr construction Tax Increment Bond (from Redevelo ment A ency) $11,916,022 Sr. Ctr construction Section 108 Loan $2,500,000 Sr. Ctr construction City C1P Funds $34,000 Sr. Ctr construction TOTAL $15,464,746 *Note: The $673, 500 represents part of the $3.5 million in CDBG funds allocated by the Ciry to the senior center project between FY 2002-03 through FY 2008-09. 3. Proiect Structure and Participants The City is the developer and owner of the senior center facility. San Leandro is also an entitlement CDBG grantee. Consequently, the City will borrow the Section 108 loan funds via HUD (by pledging future City CDBG funds) and use the proceeds directly for Phase 2 of the senior center. The City solicited competitive bids and selected Alten Construction as the general contractor for Phase 2 in July 2008. Except for the Section 108 loan and HUD Economic Development Initiative (EDI) grant funds, the City and the City Redevelopment Agency are providing the remaining funding for Phase 2 of the senior center: City has committed its own local CIP funds and CDBG funds, while the City Redevelopment Agency issued a tax increment bond in 2007 for priority capital improvements including the senior center. The City's Recreation and Human Services Department will operate the senior center upon its completion and administer programs, services and activities in the facility. 3