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2010 Bond. The 2010 Bonds to be redeemed shall be the 2010 Bonds to which were assigned numbers so selected, but only so much of the principal amount of each such 2010 Bond of a denomination of more than $5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. Transfer and Exchange. So long as the 2010 Bonds are registered in the name of Cede & Co., as nominee of DTC, transfers and exchanges of 2010 Bonds will be made in accordance with DTC procedures. See "Appendix G" below. Any 2010 Bond may, in accordance with its terms, be transferred, upon the registration books of the Trustee, upon surrender of such 2010 Bond to the Trustee at its Principal Corporate Trust Office for cancellation, accompanied by delivery of a written instrument of transfer in a form acceptable to the Trustee, duly executed. Whenever any 2010 Bond or Bonds are surrendered for registration of transfer, the Agency shall execute and the Trustee shall authenticate and deliver a new 2010 Bond or Bonds, of like series, interest rate, maturity and principal amount of authorized denomination. The Trustee may refuse to transfer, either (a) any 2010 Bonds during the period fifteen (15) days prior to the date established by the Trustee for the selection of 2010 Bonds for redemption, or (b) any 2010 Bonds selected by the Trustee for redemption. THE FINANCING PLAN Net proceeds of the 2010 Bonds are expected to be used to pay all or a portion of the costs of financing housing redevelopment projects that meet the goals and objectives for housing activities set forth in the Redevelopment Plan. The Agency expects the redevelopment project to be assisted from 2010 Bond proceeds to consist of a single affordable housing project as described below. Alameda Housing Associates, L.P., a California limited partnership whose general partner is an affiliate of Bridge Housing Corporation ("Bridge"), a California nonprofit public benefit corporation, is proposing to construct a 100 unit affordable family apartment project at 1333 Martinez Street and adjacent to the City's downtown BART station, planned as "The Alameda at San Leandro Crossings." In addition, 200 market rate units will be constructed by a private developer, bringing Phase 1, of the project to a total of 300 units. The development is planned for 41 three-bedroom units and 34 two-bedroom units with the remainder as one- bedroom units. Amenities are planned to include a bike room, parking structure with 100 spaces (plus six additional spaces on the access drive), landscaped courtyard, children's play area, multi-purpose community room with kitchen and adjacent patio, laundry room on each floor, community garden, and a proposed 5000 square foot childcare center on the ground floor. Bridge is working with a private developer, Westlake Development Partners, LLC ("Westlake"), to develop amulti-phased, mixed use, transit oriented master development called San Leandro Crossings, also located near downtown and the San Leandro BART Station in the Plaza Redevelopment Plan Area. The Alameda will be part of Phase 1 of the master development, which will include an additional 200 market-rate residential units projected to be constructed by Westlake. The Alameda furthers the goals and objectives of the City's San Leandro Downtown Transit-Oriented Development Strategy (adopted in late 2007) and will provide needed affordable family rental housing for very low income households. Bridge has estimated the total development cost Bridge has requested financing assistance of $9.1 million i Agency. In April of 2009 the City Council, acting as th actions with respect to The Alameda including a loan o funds. The Agency estimates that by January 2010 it will of The Alameda to be $38 million. n Housing Set Aside funds from the e Agency Board, authorized several f $9.1 million in Housing Set-Aside have advanced approximately $2.2 -6-