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File Number: 13-569 <br />Environmental Review <br />The City, acting as the lead agency, reviewed and approved a mitigated negative declaration <br />for the project on July 20, 2009. Prior to taking action on the Original Agreement, the Agency <br />considered the approved mitigated negative declaration for the project as required by Section <br />15096 of Title 14 of the California Code of Regulations. In addition, the project was <br />considered in connection with the Final Environmental Impact Report for the Downtown San <br />Leandro Transit-Oriented Development Strategy certified by the City Council pursuant to <br />Resolution 2007-111 adopted on September 4, 2007. <br />Board/Commission Review and Actions <br />·July 9, 2009 - Planning Commission approved planning entitlements and environmental <br />clearance under CEQA for the Cornerstone located at 1400 San Leandro Boulevard <br />and BART replacement parking. <br />Legal Analysis <br />The staff report, resolution and the amended Owner Participation Loan Agreement and <br />related documents have been reviewed and approved as to form by the City Attorney’s Office. <br />Fiscal Impacts <br />The amended OPLA does not change the $9.1 million loan amount which the City approved in <br />2009 under the original OPLA. The remaining balance of the loan to BRIDGE will be funded <br />by the City through a combination of funds on hand in the RDA Housing Set-Aside (or <br />Low-and Moderate-Income Housing) Fund and property tax revenue allocated by the County <br />Auditor-Controller from the Redevelopment Property Tax Trust Fund established to pay <br />obligations on the Recognized Obligation Payment Schedule (ROPS), which the City must <br />submit to the State Department of Finance every six months as required under State <br />legislation related to the dissolution of redevelopment. <br />Budget Authority <br />The outstanding loan obligation to BRIDGE is listed on the Recognized Obligation Payment <br />Schedule (ROPS) that the City prepares in its capacity as Successor Agency to the RDA. The <br />ROPS has been reviewed by the Successor Agency Oversight Board and the State <br />Department of Finance. <br />ATTACHMENTS <br />None <br />PREPARED BY: Tom Liao, Planning and Housing Manager, Community Development <br />Department <br />Page 5 City of San Leandro Printed on 11/26/2013