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MO 2011-004
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1/21/2011 12:35:56 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Minute Order
Document Date (6)
1/18/2011
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10B Action 2011 0118
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\City Clerk\City Council\Agenda Packets\2011\Packet 2011 0118
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thirty -seven (37) households have lived or were currently living in San Leandro <br />prior to moving into Estabrook Place. The Agency approved a $2 million loan in <br />July 2007 to the nonprofit Eden Housing, Inc., <br />The Alameda at San Leandro Crossings, a proposed 100 -unit affordable rental <br />housing development which is part of the mixed - income San Leandro Crossings <br />master development, was delayed due to the current economic climate and <br />newness of State Proposition 1 C infrastructure grants awarded to the project. The <br />nonprofit, BRIDGE Housing Corporation, who is the developer for The Alameda, <br />had to return its federal low income tax credits, which were awarded by the State <br />in September 2009, in late April 2010. Previously, the City Council approved a <br />$9.1 million Redevelopment Housing Set -Aside development loan for The <br />Alameda in April 2009. The City, Redevelopment Agency, BRIDGE, and the <br />private developer continue to work together to move the development of San <br />Leandro Crossings forward, and BRIDGE is planning to re -apply for tax credits in <br />early 2011. The City Council approved entitlements and the Final Map for The <br />Alameda in January 2010. <br />Two (2) low interest loans and twenty -four (24) grants were awarded through the <br />Residential Rehabilitation Program, which is funded by Set -Aside Funds. Both of <br />the loans were for extremely low- income, senior households. Of the 24 grants for <br />minor home repairs, thirteen (13) were for extremely low- income and eleven (11) <br />were for very low- income. Seventeen of the grants were for seniors. <br />The Agency approved twelve loans under the First Time Home Buyer (FTHB) <br />down payment /closing cost assistance program. Three were for low- income and <br />nine for moderate - income first -time homebuyers. To meet the increased loan <br />demand, the City Council approved $131,000 in additional Set -Aside Funds in <br />February 2009 for the program. <br />Under the FTHB Program, the Agency conducted two free homebuyer education <br />seminars for potential first -time buyers. Overall, there were 135 certificates of <br />completion awarded to households completing the seminars. The Agency also <br />provided free one -on -one homebuyer counseling to 23 households all of whom <br />were low- to moderate - income San Leandro residents and /or employed in the City. <br />In June 2010, the Agency and City conducted its annual Post - Purchase Workshop <br />targeting existing homeowners and /or loan recipients under the First Time <br />Homebuyer Loan and Inclusionary Housing /Below Market Rate Ownership <br />Programs and educating them about the program regulatory requirements (i.e., <br />Achievement Information (Unaudited) Page 7 12/20/2010 <br />Achievement Information (Unaudited) <br />
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