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File Number: 19-660 <br />used to pay off the loan. <br />·2018 Tax Allocation Bonds - $2,451,593 <br />o Annual debt service payment per payment schedule. 2018 bonds replaced the 2008 <br />Tax Allocation Bonds, which were refinanced under better terms and ‘retired’ on the <br />2019-20 ROPS. <br />One item is to be ‘retired’ on the 2020-21 ROPS. Per the payment schedule, the final debt <br />service payment was made in the 2019-20 ROPS year for the HUD Section 108 Loan for the <br />Broadmoor Plaza Senior Housing project at 232 East 14th Street. <br />Payment of funds for one City-Agency Agreement remain on a future ROPS for payment. A 2011 <br />Cooperative Agreement between the City and Redevelopment Agency allocated $4,191,611 for <br />continuation of the Doolittle Drive streetscape project. Following the allocation of $400,000 <br />requested in the 2019-20 ROPS for design work, a total of $3,791,611 remains under the <br />agreement and will be requested for payment during a future ROPS period to fund streetscape <br />construction following completion of design and other pre-construction work. <br />The consolidated Alameda County Oversight Board is scheduled to review this ROPS on January <br />22, 2020. If approved, it will be forwarded to the DOF, the State Controller’s Office and the <br />Alameda County Auditor Controller after that action is finalized. <br />Previous Actions <br />·On January 9, 2012, the City Council affirmed its decision to have the City serve as the <br />Successor Agency to the former Redevelopment Agency and to retain the Agency’s housing <br />assets and functions. <br />·On January 19, 2016, the Successor Agency to the Redevelopment Agency of the City of San <br />Leandro approved a Reinstated Loan Agreement between the City and the Successor <br />Agency and Authorizing Execution of an Amended and Restated Promissory Note for the <br />Plaza Project Loan. <br />·On September 19, 2016, the Successor Agency to the Redevelopment Agency of the City of <br />San Leandro approved an Agreement with the City of San Leandro regarding the expenditure <br />of $600,000 of excess bond proceeds and authorizing the transfer of such proceeds to the <br />City of San Leandro. <br />·On January 17, 2017, the Successor Agency to the Redevelopment Agency of the City of San <br />Leandro approved an Agreement with the City of San Leandro regarding the expenditure of <br />$1,764,526 of excess bond proceeds and authorizing the transfer of such proceeds to the City <br />of San Leandro. <br />·On December 18, 2017, the Successor Agency to the Redevelopment Agency of the City of <br />San Leandro approved the issuance of the 2018 Tax Allocation Bonds in order to refund the <br />outstanding 2008 Tax Allocation Bonds. <br />·In accordance with Health and Safety Code Section 34179(j), the ten oversight boards then in <br />place in the County of Alameda consolidated into one Oversight Board commencing on and <br />after July 1, 2018. <br />Fiscal Impacts <br />Page 3 City of San Leandro Printed on 12/23/2019 <br />27