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Commercial Rehabilitation Program 2 November 19, 2001 maintained and otherwise in compliance, the loan will be forgiven at the end of the term. The Agency will reserve the right to call the loan due at any time if the owner is not in compliance with the terms of the agreement. Complete project proposals (project. description, at least two bids, insurance certification, property owner approval) will be evaluated for meeting economic development/redevelopment goals in each project area. Project proposals will be accepted on a rolling basis until the annual budget for each project area is allocated. The intent is to do roughly the same value of projects in each redevelopment project area, funds permitting. Projects must be located in a redevelopment area to qualify, since all projects will be funded by redevelopment tax increment at no more than a 50% match with the participant. The funds can be used for any improvements (hard and soft costs) consistent with the redevelopment plan, zoning code, and other applicable city, state, and federal regulations. The one provision on use of funds is that at least 50% of project costs must be dedicated to improvements outside (paint, landscaping, lighting, etc.). There will be three (or fewer) monthly draws on the loan funds by the participant, withthe Agency funds reimbursing half of the monthly submittals up to the approved amount. Extensions of the three-month limit will be considered on a case -by -case basis. Participants cannot submit another funding request for 10 years. Because of prior experiences with ASAP improvements being removed or falling into disrepair when property is sold or when a business tenant leaves the property, the property owner will be required to co-sign the participation agreement. This will preserve the Agency's investment by ensuring ongoing maintenance and adding lasting value to the property. Maintenance will be provided for through language in the participation agreements requiring the subject property remain free from litter, graffiti, peeling paint, unkempt landscaping, and other unsightly features as determined by the Community Compliance Division, Building Department, Redevelopment Agency, or any City of San Leandro department. The Joint Project Area Redevelopment Advisory Committee (RAC) reviewed the program on September 5, and supported the amendments, as well as suggesting that the program funds be increased, using other revenue sources besides tax increment if necessary. The West San Leandro RAC reviewed the proposal on September 19, and supported the revisions. The Chamber of Commerce Economic Development Committee reviewed the proposal on September 12, and also supported the revisions. The Council's Economic Development/Redevelopment Subcommittee reviewed the item on October 23, and recommended its review by the full Agency Board. The goal is to have the program approval this year and to start new projects under the new guidelines in early 2002. No changes are proposed to the CDBG-funded Design Assistance program (DA), administered by Development Services. As long as it meets all the new criteria, a project could still utilize both DA and Commercial Rehabilitation, as some do now. k/ �2G