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File Number: 17-003 <br />Such projects included the design and construction of a senior center, a downtown parking <br />garage, and infrastructure improvements on East 14th Street. <br />On October 28, 2015, the Successor Agency to the Redevelopment Agency of the City of San <br />Leandro received its Finding of Completion, certifying that the Successor Agency deposited all <br />funds with the Alameda County Auditor-Controller as required by the California Department of <br />Finance (DOF) per California Health and Safety Code Sections 34179.6 and 34183.5. <br />Pursuant to the Finding of Completion, the Successor Agency is authorized to use the <br />proceeds of Redevelopment Agency bonds issued on or before December 31, 2010 for the <br />purposes for which the bonds were sold. In order to be expended, excess bond proceeds <br />must be listed separately on the Successor Agency Recognized Obligation Payment Schedule <br />(ROPS). With the approval of the Oversight Board to the Successor Agency (Oversight <br />Board), the expenditure of excess bond proceeds may be established as an enforceable <br />obligation and transferred to the entity that created the redevelopment agency, namely the <br />City of San Leandro. <br />ANALYSIS <br />The 2008 Bonds have approximately $2.3 million in excess bond proceeds that are not <br />committed to previously approved enforceable obligations at the time of dissolution of the <br />Redevelopment Agency in 2012. On September 19, 2016, an Agreement was developed to <br />authorize an initial transfer of $600,000 in 2008 Bonds from the Successor Agency to the City <br />of San Leandro for improvements to the downtown parking garage. An additional $1.7 million <br />in excess bond proceeds remains to be allocated to projects. <br />In keeping with bond covenants, staff recommends that the remaining $1.7 million in excess <br />bond proceeds be expended on capital improvements in the Joint Project Area, including <br />improvements to the Triangle at E. 14th St./Hesperian Blvd./150th St., as well as streetscape, <br />utility undergrounding, pedestrian, and lighting improvements along north and south portions <br />of East 14th Street. <br />Based upon direction from the City Council at its January 3, 2017 meeting, the following <br />capital improvements are recommended: <br />$750,000 E. 14th St/Hesperian/150th Triangle Gateway Beautification Project - <br />Conversion of an underutilized parcel at the intersection of East 14th St, <br />Hesperian Blvd, and 150th Ave. into a public open space, including <br />landscaping, art, and walkways on the gravel lot. The recommended funding <br />would complement existing appropriations for a traffic safety project to add the <br />beautification component. <br />$750,000 E. 14th St. North Area Pedestrian Lighting/Streetscape Improvements (Davis <br />to Durant) - Design and construct new pedestrian lighting and streetscape <br />improvements, which may include new light poles, lights on existing poles, <br />paving, landscaping, and street trees. <br />$264,526 E. 14th St. South Area Utility Undergrounding - Placement underground of <br />utility lines along E. 14th Street <br />Page 2 City of San Leandro Printed on 1/10/2017