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File Number: 23-093 <br />ANALYSIS <br />Staff proposes that the City partner with Pacific West Communities and submit a funding <br />application for up to $50,000,000 consisting of up to $35,000,000 as a loan for the Bay Fair <br />Apartment project and up to $15,000,000 as a grant for pedestrian, bicycle, and transit <br />improvements. If the City decides not to partner with Pacific West Communities they will be <br />unable to apply for the funds. <br />Staff proposes that the City enter into an agreement with BART obligating BART to construct the <br />pedestrian and transit improvements previously listed and obligating the City to forward up to <br />$10,000,000 in AHSC grant funds to BART for the work. <br />Staff proposes that if AHSC awards funding for the project, the City accept the funds and execute <br />all documents required to obtain the funding. <br />If funding is awarded, the City will be responsible for construction of the bicycle improvements <br />previously listed and will receive $5,000,000 for the work. BART will be responsible for the <br />pedestrian and transit improvements previously listed and will receive $10,000,000 for the work, <br />and Pacific West Communities will receive a loan of $35,000,000 for construction of Bay Fair <br />Apartments. Failure to complete any aspect of the project will likely require returning the funds <br />and may impact the City’s future ability to compete for grant funds. <br />Financial Impacts <br />There is no impact on the general fund. There is no required local match for the grant. <br />ATTACHMENT <br />Attachment A: AHSC Cycle 7 Resolution <br />PREPARED BY: Sheila Marquises, Director, Engineering Department <br />Page 2 City of San Leandro Printed on 3/15/2023