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Policy Statement Regarding Joint City of San Leandro - County of Alameda Redevelopment Project The Joint City of San Leandro -County of Alameda Redevelopment Project Area was formed in 1993 to address blighted conditions on the East 14"' Street Corridor from San Leandro to Hayward in both the county and the city limits and to revitalize other blighted areas, such as Marina Boulevard. In addition, the Project Area had as its major goal the creation of a financing mechanism to assist the then -flagging Bayfair Mall. At the time, Macy's was in bankruptcy and the Mall was in danger of losing its flagship tenant. The entire project area met the legal definition of blight. Under redevelopment law, blight includes: • Buildings that are unsafe or unhealthy for occupancy caused by code violations, dilapidation, defective design, faulty utilities; • Factors that prevent or substantiafly hinder the economically viable use of buildings or lots, caused by substandard design, inadequate size, lack of parking; • Incompatible uses that prevent economic development; • Subdivided lots of irregular form and shape and inadequate size for proper usefulness that are in multiple ownership; • Depreciated or stagnant property values or impaired investments, including properties that contain hazardous wastes; • Abnormally high business vacancies, abnormally low lease rates, high turnover rates, abandoned buildings, or excessive vacant lots within an area developed for urban use and served by utilities; • Lack of necessary commercial facilities that are normally found in neighborhoods, including grocery stores, drug stores, banks, etc.; • Residential overcrowding or an excess of bars, liquor stores, or other businesses that cater exclusively to adults, which has led to problems of health and welfare; • High crime rate that constitutes a serious threat to public safety and welfare; and • The lack of adequate public infrastructure. The Project Area was formed and immediately the Agency entered into negotiations with the owners of the Bayfair Mall and Macy's itself. These negotiations resulted in the Agency providing sufficient financial assistance to Macy's to improve the store and to avoid termination 1 G 1XI