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File Number: 13-569 <br />·115 workforce/family rental units: 8 studios, 49 one-bedroom, 22 two-bedroom and 36 <br />three-bedroom. Two on-site managers’ units are included in the 115 units. <br />·Amenities: Approximately 408 on-site parking spaces for Phases 1 and 2 to serve <br />residents, childcare users and BART patrons, ground floor childcare center with <br />outdoor play area, on-site laundry, management office, bicycle storage, landscaped <br />courtyard, community room, small ground floor retail space, and BART lobby. <br />Phase 2 <br />·85 rental units for low income seniors: 77 one-bedroom and 8 two-bedroom. An on-site <br />manager’s unit is included in the 85 units. <br />The project will provide for BART replacement parking that is consistent with the City’s <br />Downtown Transit-Oriented Development (TOD) Strategy as well as Bay Area Rapid Transit <br />(BART) TOD goals for its station area properties such as 1400 San Leandro Boulevard, which <br />is presently a BART parking lot. BART is scheduled to review its long-term lease with BRIDGE <br />in early December 2013. <br />The Cornerstone Project furthers the City Council goal to “work with the community and <br />stakeholders towards completing major projects and programs for sustainable economic <br />development.” <br />Analysis <br />Below are the notable revisions under the proposed amendments to the OPLA: <br />1)The City, in its capacity as the housing successor to the former RDA, replaces the RDA <br />as the contracting party under the amended OPLA. In January 2012, pursuant to ABx1 <br />26, the City Council adopted a resolution agreeing to serve as the Successor Agency to <br />the RDA and agreeing to assume the former RDA’s housing assets, rights and <br />obligations. <br />2)The location of the Cornerstone affordable rental housing development has moved <br />from the west side of the Downtown BART Station (at 1333 Martinez Street) to the east <br />side of San Leandro Boulevard (at 1400 San Leandro Boulevard). <br />3)BRIDGE will construct a total of 200 affordable rental units on the present 1400 San <br />Leandro Boulevard location instead of the originally planned 100 units on the 1333 <br />Martinez Street site. See “Background” section above for updated project details. <br />4)BRIDGE will lease the 1400 San Leandro Boulevard site from the existing property <br />owner, BART. <br />5)BRIDGE will pursue State and federal low income housing tax credits as the primary <br />public financing sources for both Phase 1 and 2. The original 2009 OPLA stated that <br />BRIDGE would initially pursue State Multifamily Housing Program (MHP) funding. State <br />MHP is no longer a viable funding source. <br />6)BRIDGE agrees to indemnify and hold the City harmless related to the use of the $10.3 <br />Page 2 City of San Leandro Printed on 11/26/2013