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SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY FUNDS <br /> <br />cover enforceable obligations related to activities within the City of San Leandro. Alameda <br />County has formed a separate Successor Agency to handle obligations related to project <br />in unincorporated Alameda County. Enforceable obligations for this project area include <br />Tax Allocation Bonds issued in 2008, Certificates of Participation issued in 2001, <br />reconstruction of the downtown garage, several contractual agreements, and utilization <br />of excess bond proceeds from the 2008 Tax Allocation Bonds for project area <br />improvements. <br />WEST SAN LEANDRO/MACARTHUR BOULEVARD PROJECT AREA <br />The Successor Agency provides obligated funding for enforceable obligations related to <br />the former West San Leandro/MacArthur Boulevard Redevelopment Project Area . The <br />West San Leandro Project Area included the City’s industrial area, as well as a portion of <br />MacArthur Boulevard. Enforceable obligations for this project area include the Tax <br />Allocation Bonds issued in 2004, and capital improvements to construct Eden Road and <br />continue streetscaping along Doolittle Drive. <br />LOW/MODERATE HOUSING FUND <br />The Low/Moderate Housing Fund provided the funding for lower income housing and <br />neighborhood improvement assistance programs in all project areas. Consistent with <br />California State law, 20 percent of all tax increment revenue received by the <br />Redevelopment Agency was formerly set -aside to support affordable housing programs. <br />While the affordable housing requirements related to State redevelopment law have also <br />been eliminated for new projects or activities as of February 1, 2012, there are <br />outstanding enforceable obligations associated with the Low/Moderate Housing Fund <br />which include funding commitments related to affordable housing developments by the <br />nonprofits Mercy Housing and BRIDGE Housing Corporation (via Alameda Housing <br />Associates) and the City will assume as the successor agency. <br />REDEVELOPMENT OBLIGATION RETIREMENT FUND <br />This fund functions as the debt service fund for all of the former Redevelopment Agency <br />funds. Operational costs are not budgeted in this fund. <br /> <br /> <br /> <br />116 <br />138