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The proposal will kill jobs and economic expansion at the worst possible time. Eliminating redevelopment will have a direct and lasting negative impact on the California economy and job creation. A few examples of economic development spurred by redevelopment in San Leandro include: • Creekside Plaza Office Complex. Although primarily financed privately, this project would not have been feasible without the land assembly assistance and minimal gap financing contribution by the Redevelopment Agency. Creekside is San Leandro's only class -A office development, generates on -going property tax revenue and is home to over 1,000 quality jobs. • Downtown Garage Construction. Redevelopment financing is facilitating construction of a Downtown parking garage, an essential step in supporting growth consistent with the City's award winning Transit Oriented Strategy. The garage will facilitate mixed -use, infill development in Downtown San Leandro, leading to creation of upwards of 200 new jobs and enhanced economic vitality downtown. The construction project will support over 50 jobs in the construction industry over 18 months. • Marina Automall. The Redevelopment Agency spearheaded the development of the Marina Automall directly generating an estimated 500 jobs and substantial sales tax revenues for the City. The Agency has also supported numerous infrastructure improvements to create climate conducive to business growth. Business assistance programs funded by Redevelopment provide targeted support to small and mid -sized businesses that form the core of our economy. All of these efforts are designed to support job creation and economic vitality for the City and region. Public support for economic development in San Leandro would be virtually non- existent without Redevelopment. The proposal is bad for the environment, bad for working families, bad for our state. Eliminating redevelopment will take away the primary tool local governments have to comply with SB 375, to grow sustainably, and to provide affordable housing. Consider the following: • Infill- Centered Growth. Communities use redevelopment for building infill projects and spurring local job creation. Redevelopment encourages infill development rather than greenfield development. Often, a small contribution of gap financing can make the difference in success of a project. Implementation of San Leandro's Transit Oriented Development Strategy which provides environmental clearance for up to 3,400 residential units, 120,000 square feet of retail and over 700,000 square feet of office space will be severely impacted by the elimination of Redevelopment. • Redevelopment is the second largest funder of affordable homes in California after the federal government, constructing over 98,000 units since 1993. Twenty percent of property tax revenues generated from redevelopment activities must be spent on affordable housing. San Leandro's recently completed Estabrook Place, with 51 much - needed affordable senior dwelling units, would not have been possible without Redevelopment. The Alameda, a planned 100 -unit affordable family project adjacent to our downtown BART station, will almost surely be canceled without assistance from the Redevelopment Agency. Redevelopment in San Leandro has made hundreds of affordable homes possible.