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Amendments to the 3 July 6, 2009 FY05-09 Consolidated Plan & FY09-10 Action Plan and Approval of Davis Street Family Resource Center Loan Davis Street Family Resource Center CDBG CIP contract Davis Street Family Resource Center (DSFRC) provides child care resources, health care and medical services, mental health services, employment and housing assistance, food and clothing, alcohol and drug prevention, access to education and parent information, and other forms of information and referral services to an average of over 10,000 low-income individuals and families in San Leandro each year. DSFRC has the opportunity to create a permanent home for its Family Resource Center by purchasing its current facility for $2.5 million. Acquiring its current facility will allow DSFRC to reduce its overhead costs by nearly $250,000 each year. DSFRC can then reallocate this cost savings to its various support programs. In order to assist DSFRC with this acquisition, City staff were instructed by the City Council at the March 2, 2009 Council meeting to explore viable funding options that can provide DSFRC with $500,000 it can use for the purchase of its current facility. The most viable option is reflected in the Amendment #1 to the FY 2009-2010 Action Plan. Terms of the Loan Per the CDBG Capital Improvement Project (CIP) Loan Agreement with Davis Street Family Resource Center, the CDBG funds will be used solely for assisting in the acquisition of property at 3081 Teagarden Street. Prior to the City releasing the $500,000 funding, DSFRC will need to provide the City with 1) a current appraisal of the property, 2) a realistic schedule to close on the acquisition including anticipated dates when all financing will be secured, and 3) an acceptable evidence of financing for the acquisition of the property. In addition, DSFRC will need to spend the funds within twelve (12) months of the execution of the agreement but must spend it within the first 6 months or else request a 6-month extension from the City. Current City Council Policy The FY 2005-2009 Consolidated Plan and the FY 2009-2010 Action Plan define current Council Policy. Previous City Council Action(s) A public hearing was held on June 1, 2009 to present the proposed amendments to the FY 2005-2009 Consolidated Plan and to the FY 2009-2010 Action Plan, solicit public comments, approve the 30-day public comment period (June 6 -July 6, 2009) for the summary of amendments, and set a public meeting date for July 6, 2009 to consider public comments and to consider final approval of the amended Consolidated Plan and Action Plan.