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was remediated as part of the approved clean-up plan. Such immunity was key to redeveloping this contaminated property. Awning, Sign and Paint Grant Program Numerous businesses along the East 14t' Street corridor have taken part in the Agency's Awning, Sign and Paint Program which provides a matching grant of up to $2500 per storefront or $10,000 per building to property owners, business owners, and tenants to rehabilitate and revitalize commercial buildings and/or storefronts within the design standards set forth in the Redevelopment Plan. Typical upgrades include sign, paint and landscaping improvements. M. West San Leandro/MacArthur Boulevard Redevelopment Area West Davis Street/Eden Road The Agency is in the early stages of looking at the feasibility of improving the Eden Road right of way. By improving this right of way alternative access would be supplied to the highly congested West Davis Street area. This new access could potentially allow for the development of a 20 acre parcel at the end of Davis Street, while allowing partially land locked parcels better access to Doolittle. MacArthur Boulevard Streetscape The Redevelopment Agency has committed $300,000 to the design and phase one -construction plans for a new streetscape for the MacArthur corridor starting at the north City limit and proceeding south past Estudillo Avenue. Coupled with this the Agency is working with numerous small businesses on MacArthur Blvd. by assisting them in improving their facades through the Awning Sign and Paint program. IV. Housing Opportunities Through Redevelopment The three project areas' 20% housing revenues are combined into one low -mod housing fund First -Time Homebuyers Program Every year the Agency funds about $160,000 in First -Time Homebuyer loans. The maximum amount is $10,000; the average loan is $8,000. The qualifying household income limit is 120% of the median (in 2001, for a family of four, the limit is $85,920). The loans have a fixed rate of 5% over a 20-year term with payments deferred for five years. San Leandro Senior Housing The former Cox Chrysler property at 232 E. 14th Street owned by the Redevelopment Agency was purchased by San Leandro Senior Housing, Inc., a non-profit affiliate of American Baptist Homes of the West, on August 8 with Agency financing. As per the terms of the agreement approved by the Agency Board in February 2000, SLSH plans to demolish the existing structures in September and commence construction on 60 units of affordable housing for seniors in