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City of San Leandro <br />Notes to Basic Financial Statements <br />For the year ended June 30, 2010 <br />NOTE 3 — LOANS RECEIVABLE, Continued <br />At June 30, 2010, the City was owed, in its Redevelopment Agency Capital Projects Fund, $1,387,590 which includes <br />(1) loan made to J.T. Lawrence and Creekside Associates LLC for the development of Creekside Plaza Garage and <br />Restaurant; (2) a loan made to Merced Property for property improvements; (3) loan made to Scribner Family <br />Partnership for commercial property rehabilitation along Washington Avenue; (4) loan made to Alfredo & Helen <br />Esquivel. Because the notes do not meet the City's availability criteria for revenue recognition, the City has deferred <br />the revenue related to these loans. The loans are secured by trust deeds. In the Government -wide Financial Statement, <br />$484,545 of the receivable was eliminated. <br />At June 30, 2010, the City was owed, in its Redevelopment Agency Low and Moderate Housing Capital Projects Fund, <br />$8,219,517 which includes (1) loans made to the City property owners who meet the HUD requirements for financial <br />assistance for property improvements and first time home buyer loans; (2) a loan made to Ruth Rogers and Sara <br />Bagwell; (3) a loan made to Eden Housing, Inc.; (4) a loan made to San Leandro Senior Housing; (5) a loan made to <br />Citizens' Housing Corporation for property improvements; and (6) a loan made to Mercy Housing for the construction <br />of the Casa Verde. Because the notes do not meet the City's availability criteria for revenue recognition, the City has <br />deferred the revenue related to these loans. Revenues are recognized in the year of repayment. Loans are secured by <br />trust deeds. In the Government -wide Financial Statement, $2,664,560 of the receivable was eliminated. <br />NOTE 4 - NOTES RECEIVABLE <br />No new Notes Receivable <br />NOTE 5 - INTERFUND TRANSACTIONS <br />Fund Financial Statements <br />A. Interfund Receivables and Payables <br />At June 30, 2010, the City had the following short-term receivables and payables: <br />Due to/from other funds: <br />Receivable Fund <br />General Fund <br />Total <br />Payable Fund <br />Home Fund <br />Community Development Block Grant (CDBG) <br />Measure B-Paratransit <br />Grant Fund <br />Amount <br />$ 1,224 <br />411,063 <br />74,116 <br />1,400,870 <br />$ 1,887,273 <br />The City has recorded due to/due from all funds requiring cash at the end of June 30, 2010 to the funds that had deficit <br />year-end balances which will be repaid back to the General Fund during the 2010-11 fiscal year. <br />55 <br />