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File Number: 17-727 <br />If the City Council approves, Eden and the City will apply for an estimated $12 million in AHSC <br />funding (though these amounts might change, but not exceed $15 million total): $8 million for the <br />affordable rental housing development and $4 million for active transportation infrastructure <br />improvements and programs. Eden will manage the $8 million, which will be a loan to Eden, while <br />the City Engineering and Transportation Department will administer the $4 million <br />infrastructure-related funding, which will be a grant to the City. This resolution seeks approval for <br />an AHSC loan and grant application not to exceed $15 million to ensure that if there is a <br />significant change in the application’s scope of work and budget, it will not delay or invalidate the <br />application since a resolution from the City is required at the time of application submittal. <br />In order to be competitive for the AHSC program funding, there is a 100-point score system that <br />rewards the total amount of greenhouse gas (GHG) reduced as well as the efficiency of those <br />GHG reductions per dollar of AHSC funds asked. In addition, the scoring rubric awards significant <br />points for active transportation improvements, green building construction, collaboration between <br />the City, Eden and transit partners, demonstration of City’s efforts in preventing displacement of <br />low income renters, housing affordability, and utilizing local workforce development and hiring <br />practices. <br />The City’s Community Development Department collaborated with the City’s Engineering and <br />Transportation Department to develop comprehensive active transportation projects that will <br />increase the competitiveness of this AHSC Grant application. If awarded, the City will receive <br />approximately $1.9 million dollars to advance the Bicycle Network West Project Phase 2 and <br />pedestrian improvements along Williams Street. The bicycle improvement plans include a Class <br />IV buffered bicycle lane on Williams Street from Merced Street to San Leandro Boulevard. The <br />pedestrian improvement plans are on Williams Street from Orchard Avenue to Alvarado Street <br />that will include Americans with Disabilities Act (ADA) improvements at intersections and <br />connecting sidewalks and upgrades to the railroad crossing west of San Leandro Boulevard. In <br />addition, the proposal includes approximately $600,000 in pedestrian lighting westward on <br />Williams Street from San Leandro Boulevard on both sides of the street. <br />Staff is also coordinating with AC Transit to purchase a bus to further advance AC Transit’s <br />Service Expansion Plan efforts in the City. Consequently, this will improve overall services to the <br />San Leandro community and support the region’s goals on sustainability. <br />Eden and the City must demonstrate in their AHSC application how the project leverages other <br />funding sources. Eden Housing will also apply for the recently released State Housing and <br />Community Development Department’s Infill Infrastructure Grant (CA IIG) funds. If awarded AHSC <br />funds, the development will be eligible for an allocation of 4% Low Income Housing Tax Credits <br />equity. <br />Analysis <br />Below is a summary of key features of the loan agreement for $1 million between the City and <br />Eden: <br />Interest Rate and Loan Period <br />Three percent (3%) annual interest-only payments for fifty-five (55) years. <br />Page 3 City of San Leandro Printed on 1/2/2018 <br />8