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<br />17 <br />THE AUTHORITY <br />The Authority was formed on May 24, 1993 pursuant to a Joint Exercise of Powers <br />Agreement between the City and the Redevelopment Agency (the “Joint Exercise of Power <br />Agreement”). The Successor Agency has subsequently succeeded to the rights and obligations <br />of the Redevelopment Agency under the Joint Exercise of Powers Agreement. The City Council <br />sits as the board of the Successor Agency and the Successor Agency functions, in essence, as <br />a department of the City. <br />The Authority was formed for the purpose, among others, of assisting the City in the <br />acquisition, construction and financing of public improvements that are of public benefit to the <br />City. The City Council acts as the Board of the Authority. The Mayor and the Vice Mayor of the <br />City serve as the Chairman and Vice–Chairman, respectively, the City Manager serves as the <br />Executive Director, the City Clerk serves as the Secretary, and the City’s Finance Director <br />serves as the Treasurer of the Authority. <br />THE CITY AND CITY FINANCIAL INFORMATION <br />General <br />The City of San Leandro (the “City”) was incorporated in 1872 and is one of the oldest <br />communities in the San Francisco Bay Area. Prior to its incorporation, the land that would <br />become the City was inhabited by the ancestors of the Ohlone Nation, and further developed by <br />Spanish and Portuguese settlers. From 1856 until 1868, San Leandro served as the county <br />seat of Alameda County (the “County”) in the State of California (the “State”). The City <br />presently occupies 15 square miles in the central part of the County, approximately 20 miles <br />southeast of the City of San Francisco. Its neighboring cities include Oakland and Hayward and <br />it is bordered on the west by the San Francisco Bay. The City offers its residents the quiet <br />charm and character of a community that has been established for more than 130 years. The <br />City is established as a charter city. <br /> <br />Once an agricultural community, San Leandro has been successful in attracting <br />significant industrial, manufacturing and retail development to the area. The City has long been <br />home to many food processing operations, and is home to many corporate businesses such as <br />Ghirardelli and Otis Spunkmeyer and a Coca–Cola plant. There are five shopping centers: <br />Bayfair Center, Westgate Center, Greenhouse Shopping Center, Marina Square Center, and <br />Pelton Plaza. The industrial makeup of the City has been changing, moving away from its <br />traditional manufacturing base toward more of an emphasis on services and warehousing <br />industries. <br /> <br />As of January 1, 2016, the County had a population estimated at 1,627,865, making it <br />the eighth most populous county in the State. The County includes the cities of Oakland and <br />Berkeley, and Oakland is its county seat. The County occupies most of the East Bay region of <br />the San Francisco Bay Area, spanning a total area of 821 square miles, of which 737 square <br />miles (or 89.82%) is land and 83.57 square miles (or 10.18%) is water. The San Francisco Bay <br />borders the County on the west, and the City and County of San Francisco has a small land <br />border with the County due to land filling. The crest of the Berkeley Hills forms part of the <br />northeastern boundary, and reaches into the center of the County. A coastal plain several miles <br />wide lines the Bay; it is home to Oakland and the County’s most populous regions. Livermore <br />Valley lies in the eastern part of the County. The Hayward Fault, a major branch of the San