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4 January 17, 2011 <br /> consistent with the City's Transit Oriented Development (TOD) Strategy, particularly for the <br /> presently vacant parcels that comprise the Town Hall Square site. The Hays Street improvements <br /> will eliminate blight in the Plaza Project Area by creating conditions conducive to development <br /> of one of the key opportunity sites in the City's downtown area. <br /> City staff has explored potential funding sources and has determined that there is no other source <br /> of funds reasonably available to the City to contribute toward the Projects due to economic and <br /> political factors. City general fund revenues are not available because they are committed for the <br /> provision of essential services such as police and fire. <br /> As described above, the proposed Projects will help eliminate blight in the project areas and <br /> surrounding areas by stimulating private reinvestment and new development of vacant or <br /> underutilized parcels as a result of improved aesthetic characteristics and improved traffic flow, <br /> capacity and safety. <br /> The 2010 -14 Redevelopment Agency Implementation Plan specifically identifies the <br /> construction and streetscape improvements to Eden Road, MacArthur Boulevard and Doolittle <br /> Drive. The Hays Street improvements are a component of the Town Hall Square project which is <br /> also identified in the Implementation Plan. The TOD Strategy more specifically discusses the <br /> role of the Hays Street improvements in the adjacent mixed use development. <br /> Current Citv Council /Redevelopment Agency Policy <br /> • The San Leandro Redevelopment Agency 2010 -14 Implementation Plan includes each of the <br /> four projects identified under Economic Development and Public Improvement Programs <br /> Redevelopment Agency Action(s) <br /> • On September 20, 2010, by Resolution No. 2010 -008 RDA, the Board adopted the 2010 -2014 <br /> Implementation Plan for the Redevelopment Agency of the City of San Leandro <br /> Permits and /or Variances Granted <br /> • City Building Permits will be issued <br /> Financial Impact <br /> • The estimated construction cost, including design costs, of the Projects is S9 million. <br /> I3udget Authority <br /> • The City and the Agency have agreed to execute a Cooperative Agreement to provide <br /> funding for the projects. <br /> • The Agency has analyzed tax increment revenue projections and determined that revenues <br /> will be adequate to fund the Projects as well as all other current obligations. <br /> • <br />