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CITY OF SAN LEANDRO <br />REDEVELOPMENT AGENCY <br />STAFF REPORT <br />DATE: <br />TO: <br />FROM: <br />BY: <br />November 19, 2001 <br />John J. Jermanis, Executive Director, <br />Redevelopment Agency <br />Luke Sims, Business Development <br />Manager W <br />APPROVED AND <br />FORWARDED <br />TO AGENCY BOARD Mo <br />cool <br />John rmanis 11- - 0 1 <br />Exec e Director, 0911� <br />Redevelopment Agency <br />Amalia Lorentz, Development Project Specialist <br />SUBJECT: New Commercial Rehabilitation Program (Revising Awning, Sign, and Paint <br />Program) <br />SUMMARY AND RECOMMENDATION <br />The proposed Commercial Rehabilitation Program builds on the old Awning, Sign, and Paint <br />Program by offering more redevelopment matching funds to encourage bigger renovation <br />projects, improving the appearance of businesses and properties in redevelopment areas. <br />DISCUSSION <br />The Redevelopment Agency -funded Awning, Sign, and Paint Program (ASAP) currently offers <br />matches of up to $2,500 per storefront or $10,000 per building for awnings, signs, and paint, and <br />occasionally other improvements. Each participant/owner(s) must sign a maintenance <br />agreement. All three redevelopment project areas have an annual line item budget for ASAP. <br />Typically all the funds are not allocated each year. <br />While there have been many successful ASAP projects, the program could be strengthened to <br />offer more funding for more benefits. The proposal for a revised program, renamed <br />"Commercial Rehabilitation" (reflecting the expanded scope) is a tiered system that encourages <br />bigger projects. The goals of revising the program guidelines are to: <br />• Encourage projects that significantly contribute to the appearance of the project area; <br />• Support changes in land use, such as office to retail, by allocating funds for interior <br />renovations; <br />• Promote maintenance for ongoing benefit of project area; <br />• Facilitate annual budgeting for staff as well as applicants. <br />The Agency will contribute up to half the total project cost, to a maximum Agency participation <br />of $50,000. All projects will be loans secured to property by Owner Participation Agreements, <br />with 3% simple interest, with interest and payments deferred for 10 years. If the property is <br />