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Amendments to Mission Bell Apartment Agreements 4 June 1 S, 2009 Coalition), an established and well-regarded nonprofit public service provider to coordinate useful supportive services on site for the residents. • Meeting affordable rental demand for small, working households, some with special needs. • Keeping attractive housing and prime property along a major commercial corridor in the City's affordable housing inventory. • Remaining tenants from the private owner who are not income qualified will continue to be allowed to remain. AH expects to convert the Mission Bell Apartments gradually to a 100% affordable apartment building as the few holdover renters move out voluntarily. AH would then rent their vacated units to income- eligible renters in the near future. Current City Council Policy Not applicable Previous City Council Action On May 1, 2006, the City Council approved loans from the City of San Leandro (for $1,100,000.67) and Redevelopment Agency of the City of San Leandro (for $538,067) to Allied Housing, Inc. to assist in the acquisition of Mission Bell Apartments (Resolution No. 2006-045). Funding sources for these loans were from: Home Investment Partnership Act (HOME) funds, McKinney Act Refunding Agreement funds, and Redevelopment Agency Low Mod Housing fund. City Council Committee Review and Action The Business Development Committee reviewed the proposed $400,000 rehabilitation and refinancing request from Allied Housing, Inc., on May 14, 2009. Applicable General Plan Policy The Housing Element of the General Plan contains several policies applicable to the Mission Bell Apartments rehabilitation and refinance project: Goal 3: New Housing Opportunities -Provide housing opportunities and improve economic access to housing for all segments of the community. Policy 3.01: Mix of Unit Types - Encourage a mix of residential development types in the City, including single family homes on a variety of lot sizes, as well as townhomes, row houses, live-work units, planned unit developments, and multi-family housing. Policy 3.05: Mixed Use on Transit Corridors -Encourage mixed use projects containing ground floor retail and upper floor residential uses along major transit corridors.