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4 March 7, 2011 <br /> Current Citv Council /Redevelopment AQencv Policv <br /> • The San Leandro Redevelopment Agency 2010 -14 Implementation Plan includes this project <br /> as identified under Economic Development and Public Improvement Programs <br /> Redevelopment AQencv 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 /> • On January 17, 2011, by Resolution 2011 -001 RDA, the Board authorized a Cooperative <br /> Agreement with the City, pledging 59 million in tax increment funds for specified <br /> improvements. <br /> Permits and /or Variances Granted <br /> • City Building Permits will be issued <br /> Financial Impact <br /> • The Agency's share construction cost, including design costs, of the Projects is S9 million. <br /> This Public Improvement Agreement authorizes the transfer of S1.7 million at this time. <br /> Budget Authority <br /> • The City and the Agency have agreed to execute a Cooperative Agreement to provide <br /> funding for the project. <br /> • The Agency has analyzed tax increment revenue projections and determined that revenues <br /> will be adequate to fund the Project as well as all other current obligations. <br /> • The estimated cost for the Eden Road project is approximately 55,800,000, of which <br /> 5800,000 represents land acquisitions costs already paid. The requested Agency contribution <br /> is 51,300,000, which will be funded from the West San Leandro /MacArthur Boulevard <br /> Project. Area's available fund balance. Remaining costs will be funded by an assessment <br /> district and other sources. <br /> Summary: <br /> West San Leandro/MacArthur Tax Increment 51,300,000 <br /> Tracy V ety, Finance Dir ctor /Agency Treasurer <br />