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Appendix E (Initial Study /Pan 2) Page 8 Attachment to Appendix E — Initial Study (Part 2) Project Description The proposal consists of a merger of the existing Plaza 1 and Plaza 2 Redevelopment Project Areas to more effectively utilize the tax increment funds received by the Agency to carry out the purposes of the respective redevelopment plans. The merger may allow redevelopment projects in the Plaza 1 area to occur sooner than if the merger did not occur. No changes in land use or land use designations are proposed. No specific redevelopment projects are proposed as part of this project. The expiration dates for each of the redevelopment areas (January 2009 for Plaza 1, and between January 2009 and July 2028 for the various areas within Plaza 2) would remain unaffected with this action. The Plaza 1 Redevelopment Project Area encompasses approximately eight acres and was the first Redevelopment Project Area established by the City of San Leandro, in 1960. The boundaries of this Project Area are Davis Street to the north, East 14' Street to the east, West Juana Avenue to the south, and Hays Street to the west. The Plaza 1 area is located within the city's Central Business District and includes the Downtown Plaza shopping mall. The Plaza 2 Redevelopment Project Area, which is contiguous to the Plaza 1 Project Area, encompasses approximately 260 acres and was established in 1967. Subsequent amendments to the Project Area have occurred between 1971 and 1988 in order to add more territory. Projects implemented within this Project Area include the relocation of Costco and the disposition and development of the commercial pads adjacent to the new Costco, and construction of the Bay Area Council/Boy Scouts of America building. The boundaries for both Redevelopment Project Areas are shown in Maps 1 and 2. Discussion The Plaza 1 and Plaza 2 Redevelopment Project Areas are contiguous. A merger of the two areas would eliminate the mutual boundary lines along Hays Street (between Davis Street and West Juana Avenue), Davis Street (between Hays Street and East 14 Street) and East 14'" Street (between Davis Street and West Juana Avenue). No physical or environmental impacts are anticipated from this specific action. It should be noted, however, that subsequent redevelopment projects proposed within the new Project Area would be required to undergo their own specific environmental review. The Plaza 1 Redevelopment Project Area is the City's oldest and smallest redevelopment project area. 1t encompasses the heart of downtown and undenvent a major redevelopment initiative in the mid- 1980's with construction of a suburban-style shopping center. While the shopping center is economically viable, its design and layout has created challenges for redeveloping the remaining strip commercial properties on East 14 Street and for creating a pedestrian- oriented environment within the shopping center. Given the small geographical size of the project area and existing debt due to Agency participation in the shopping center, funding limitations restrict new redevelopment activity. Therefore, in order to more effectively utilize tax increment funds and undertake blight elimination activities in Plaza 1, a merger with the adjacent Plaza 2 Redevelopment Project Area is being proposed. Plazas I & 2 — IS - Part 2