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City of San Leandro <br />Notes to Basic Financial Statements <br />For the year ended June 30, 2013 <br />NOTE 17 — SUCCESSOR AGENCY ACTIVITIES (Continued) <br />F. Commitments and Contingencies <br />Cornerstone at San Leandro Crossings <br />The Cornerstone at San Leandro Crossings, a 200 -unit affordable rental housing project which was <br />developed by the nonprofit BRIDGE Housing Corporation, proposal in the San Leandro Crossings <br />development. The former Redevelopment Agency approved a development loan of $9.1 million in Set - <br />Aside Funds in April 2009. Due to unforeseen factors beyond the developers' control, the Cornerstone <br />was delayed in April 2011. BRIDGE is expected to apply for low income rental housing tax credits from <br />the State $22 million grant funds are expected from the state to complete this project. <br />88 <br />