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City Council Minutes July 16,2012 <br /> 10. ACTION ITEMS <br /> 10.A. 12-322 Staff Report for a City of San Leandro HOME Investment Partnerships <br /> Program (HOME) Funds Loan to Alameda Housing Associates, L.P. to <br /> Assist in the Construction of an Affordable Rental Housing Project <br /> (Cornerstone at San Leandro Crossings) Located at 1400 San <br /> Leandro Boulevard <br /> 12-323 ADOPT: Resolution Authorizing the City Manager to Execute a HOME <br /> Investment Partnerships Program (HOME) Loan Agreement with <br /> Alameda Housing Associates, L.P., for the Financing of the <br /> Construction of an Affordable Rental Housing Project Located at 1400 <br /> San Leandro Boulevard (authorizes the execution of a $650,000 <br /> HOME loan agreement for the Cornerstone at San Leandro <br /> Crossings) <br /> Planning and Housing Manager Tom Liao pointed out a correction to the staff report <br /> and resolution. The loan term was incorrectly stated in both documents as 20 years; <br /> the loan term should be 55 years. <br /> A motion was made by Vice Mayor Gregory,seconded by Councilmember <br /> Souza,that this Resolution be Adopted as Amended,to correct the term of the <br /> HOME loan to fifty-five(55)years.The motion carried by the following vote. <br /> Aye: 7- Cassidy, Cutter, Gregory, Prola, Reed, Souza, Starosciak <br /> Enactment No: Reso 2012-094 <br /> Item 10.B. was considered earlier in the agenda. <br /> 10.C. 12-372 Staff Report for the Resolution Designating the City of San Leandro's <br /> Locally Preferred Alternative for the AC Transit East Bay Bus Rapid <br /> Transit (BRT) Project <br /> 12-373 ADOPT: Resolution Designating the City of San Leandro's Locally <br /> Preferred Alternative for the AC Transit East Bay Bus Rapid Transit <br /> (BRT) Project(designates the City's preferred option for BRT) <br /> A motion was made by Councilmember Cutter,seconded by Vice Mayor <br /> Gregory,that this Resolution be Adopted.The motion carried by the following <br /> vote. <br /> Aye: 7- Cassidy, Cutter, Gregory, Prola, Reed, Souza, Starosciak <br /> Enactment No: Reso 2012-095 <br /> The City Council recessed from 9:20 p.m. to 9:33 p.m. <br /> 10.D. 12-381 Staff Report for Update on AB 1484: Redevelopment <br /> Dissolution/Unwind Trailer Bill and Resolutions to Acknowledge the <br /> Legal Existing of the Successor Agency and Adopt Successor Agency <br /> City of San Leandro Page 9 <br />