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File Number: 12 -322 <br />market rate units and affordable units. <br />Environmental Review <br />Pursuant to National Environmental Protection Act (NEPA), the appropriate level of <br />environmental review for the proposed Cornerstone project will be completed prior to the <br />execution of the loan agreements. <br />Legal Analysis <br />This staff report, HOME Loan Agreement and related agreements and documents have been <br />reviewed and approved as to form by the City Attorney's Office. <br />Fiscal Impacts <br />The City currently has a balance of $912,280 in uncommitted HOME funds from previous <br />years. If this resolution is passed and $650,000 in HOME funds is approved, there will be a <br />remaining HOME balance of $262,280. <br />Budget Authority <br />Budget authority for the Resolution comes from the Federal HOME Investment Partnerships <br />(HOME) Program (under Title II of the Cranston - Gonzalez National Affordable Housing Act, <br />as amended). <br />ATTACHMENTS <br />BRIDGE Housing Financial Pro Forma for Cornerstone <br />PREPARED BY: Steve Hernandez, Housing Specialist, Community Development <br />Department <br />City of San Leandro Page 4 Printed on 711012012 <br />