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OFFICIAL STATEMENT $ "` Redevelopment Agency of the City of San Leandro Taxable Tax Allocation Housing Bonds, Series 2010 This Official Statement, including the cover page and appendices hereto, is provided to furnish information in connection with the sale by the Redevelopment Agency of the City of San Leandro (the "Agency") of its Taxable Tax Allocation Housing Bonds, Series 2010 (the "2010 Bonds"). INTRODUCTION This Introduction contains a brief summary of certain information contained in this Official Statement. It is not intended to be complete and is qualified by the more detailed information contained elsewhere in this Official Statement. Definitions of certain terms used in this Official Statement are set forth in "APPENDIX C -Summary of Certain Provisions of the Indenture". Authority for Issuance. The Agency is a redevelopment agency existing under the Community Redevelopment Law of the State of California (the "State"), constituting Part 1 of Division 24 (commencing with Section 33000) of the California Health and Safety Code, as amended (the "Redevelopment Law"). The 2010 Bonds are being issued under the Redevelopment Law and pursuant to an Indenture of Trust (the "Indenture"), dated as of January 1, 2010, by and between the Agency and U.S. Bank National Association, San Francisco, California, as trustee (the "Trustee"). Use of Proceeds. The proceeds of the 2010 Bonds will be used to (i) fund certain housing redevelopment activities of benefit to property within the Agency's Alameda County - City of San Leandro Redevelopment Project Area (the "Joint Project Area") and the West San Leandro/MacArthur Boulevard Redevelopment Project Area (the "West San Leandro Project Area" and together with the Joint Project Area, "Project Areas"); (ii) fund a reserve fund for the 2010 Bonds; and (iii) to pay the costs of issuing the 2010 Bonds. See "THE FINANCING PLAN." `Preliminary, subject to change.