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San Leandro Redevelopment Agency 2010 -2014 Implementation Plan Introduction The San Leandro Redevelopment Agency has a long tradition of undertaking public benefit projects, and continues to enhance and improve San Leandro's image. In conformance with California Health and Safety Code, this document updates the achievements of the Agency in the past five years and lays out the plan for the next five years. The Agency has achieved many of its economic development, public improvement, and affordable housing programs in the last five years, such as the completion of the Creekside Office complex, Downtown Street Lighting and Pedestrian Improvements, MacArthur Boulevard Streetscape Improvements, Doolittle Drive Gateway Improvements, the Casa Verde affordable housing project, Estabrook Place senior apartments, and sustaining the Marina Boulevard Auto Mall and Regional Retail area, to name a few. The next five years will be no different. Though limited by funds and revenues, the Agency has identified many other projects and programs that will enhance the City's image, support local businesses, prevent blight and improve the quality of life. Some projects identified in this plan includes the implementation of the Downtown Transit Oriented Development (TOD) Strategy, replacement of the Estudillo- Callan Garage, development of Town Hall Square and the former Albertson's site at 1550 East 14th Street, the San Leandro Crossings, and the final phases of street improvements to East 14th Street and MacArthur Boulevard. Redevelopment funding in California consists mainly of tax increment, a portion of the property tax revenue collected within the redevelopment project areas. "Tax increment" refers to the taxes collected on the increase in assessed value (over and above the base year assessed value) of properties in the redevelopment areas, starting from the date of Redevelopment Project Area designation. Redevelopment agencies are authorized to take a share of the tax increment, and in most cases, the other taxing agencies take a share of it as well. The San Leandro Redevelopment Agency is administered out of the Office of Business Development, a division of the City's Community Development Department. The full -time staff is also responsible for the City's economic development initiatives. The Agency's housing activities are handled mainly by the Community Development Department's Housing Services Division, with assistance from Business Development on special development projects. Engineering and Transportation staff manages capital projects funded by the Agency, and Finance staff handles the financial operations. This Implementation Plan covers the vast majority of the Agency's activities for the next five years. Separate sections are presented for each of the three project areas, providing detail on their goals and objectives for economic development and public improvements, and their budgets. Housing is the final section of this plan. There is concern noted in this plan because of financial constraints at both the state and local level. The state's mandatory Supplemental Education Revenue Augmentation Fund ( SERAF) shift from local redevelopment agencies to the schools in addition to pre- existing obligations, drastically limits the new projects the Agency can undertake and future takes are unknown. Tax increment revenue has also declined in recent years due to reductions in assessed values within the project areas. Table 1 on the next page shows the expected revenues and the SERAF shift as currently projected.