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in early July 2009. The State is expected to formally announce tax credit awards in September 2009. The affordability period for The Alameda is 55 years. The projected completion and full occupancy date for The Alameda is early 2012. • Acquisition and rehabilitation of affordable housing Mission Bell Apartments is a mixed-use building consisting of twenty-five (25) affordable rental units (l6 studios and 9one-bedrooms) and six (6) ground floor commercial units. In June 2009, the City Council approved the additional $400,000 HOME loan Allied Housing, Inc. requested for rehabilitation and refinancing activities. The loan was only obligated, not expended, in FY 08-09. Priority # 2. Preserve existing affordable rental and ownership housing for low- and moderate-income households. Activities: • Apartment Rehabilitation Program The City continues to track inquiries far its apartment rehabilitation program, but there have been no projects funded. • Mission Bell Apartments Rehabilitation and Refinancing As described in the earlier section, a $400,000 HOME loan was obligated to Allied Housing, Inc. in June 2009 for the rehabilitation and refinancing of the affordable rental property Mission Bell Apartments. The loan extends the 55-year affordability period for an additional three (3) years from 2061 to 2064 and results in deepened affordability restrictions at Mission Bell. Rehabilitation work includes plumbing, electrical solar panels, unit renovations, garage improvements to comply with ADA standards, and painting of the exterior. Rehabilitation and refinancing activities will commence in FY 2009-] 0. • Housing Rehabilitation Program The Housing Rehabilitation Program provides low-interest rehabilitation loans of up to $35,000 for single-family homes. This program provided eleven (l l) loans funded solely with Redevelopment Housing Set Aside Funds in FY 2008-09. Of these eleven (11) loans, nine (9) were for seniors, five (5) were for extremely low-income households, and six (6) were for very low-income households. The Housing Rehabilitation Program, which also has six (6) types of grant programs for minor home repairs, provided twenty-nine (29) grants solely from Redevelopment Housing Set Aside Funds, for lower-income homeowners in FY 2008-09. Of these twenty-nine (29) grants, seventeen (l 7) were for extremely low-income, eleven (1 l) were for very low-income, and one (1) was for low-income households. Nineteen (19) grants were for seniors. The breakdown for the types of grants, including combination grants, is as follows: • 1 Accessibility • 15 Minor home repair • 2 Mobile home repair • 2 Minor home repair/accessibility • 2 Mobile home repair/paint Consolidated Annual Performance and Evaluation Report: FY 2008-2009 City of San Leandro Page 5