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when available funding for eligible small businesses with the goal of community revitalization. Given the significant reduction in funds over the years the City allocates most of its CDBG funds to homeless services, public services, and accessibility improvements. As noted earlier, the City allocated HOME funds to Marea Alta Phase 1, a 115 unit affordable housing development. This development is located in the City's Downtown Transit Oriented Development Strategic Plan area and is conveniently located near BART and a soon to be constructed Bus Rapid Transit line and Technology Campus. The "Tech Campus" is a multi -phased downtown development that will include three six -story office buildings totaling 340,000 to 500,000 square feet . The Tech Campus represents the first major office development under the City's Downtown Transit -Oriented Development Strategy and the first technology oriented project in downtown. When fully built -out, this high density project will signify a $200 million investment in the City and create 1,800 high quality jobs. Up to 2,000 construction jobs will also result from all three phases of the development. Discuss how these outcomes will impact future annual action plans. The City continues to prepare its annual action plans based on projected decreases in funding levels. Additionally, there are significant efforts both regionally and at the State level to address decreased funding for affordable housing development. The 2017-18 Regular Session of the California State Legislature has three bills seeking to generate funds for new affordable housing production. The Building Homes and Jobs Act (SB 2: Atkins) will establish a permanent source of funding for affordable housing through a $75 fee on real estate document filings. The Affordable Housing Bond Act (SB 3: Beall) will allow the State of California to place a $3billion statewide general obligation bond for affordable housing on the November 2018 ballot to fund existing critical and successful affordable housing programs operated by State agencies. The Bring California Home Act (AB 71: Chiu, Ting, Mullin) will provide $300 million in funding for affordable homes by eliminating the state mortgage interest deduction on vacation homes. Additionally, the statewide Greenhouse Gas Reduction Fund's Affordable Housing and Sustainable Communities program is a competitive funding program that encourages collaboration between affordable housing developers and jurisdiction and transit agencies to fund affordable housing development and transportation infrastructure and amenities. City staff will continue encouraging affordable housing developers and area transit agencies to AHSC NOFA funding when available. Alameda County Measure A-1 was a voter -approved initiative authorizing a $580 million general obligation bond to invest in regional efforts to address the lack of affordable housing. The City of San Leandro has a base allocation of these funds in the amount of over $10 million. These funds are specifically designated for affordable rental housing development with the goal of creating and preserving affordable housing. Additionally, there will be a county -wide competitive pool for affordable housing development, first-time homebuyer down payment assistance, ownership housing CAPER OMB Control No: 2506-0117 (exp. 06/30/2018) 11