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<br />CDBG LOAN AGREEMENT BETWEEN THE CITY OF SAN LEANDRO AND <br />CORNERSTONE COMMUNITY DEVELOPMENT CORP. <br />DBA BUILDING FUTURES WITH WOMEN AND CHILDREN <br /> <br /> <br /> This CDBG Loan Agreement (this “Agreement”) is entered into as of July 1, 2023 (“Effective Date”) by <br />and between the City of San Leandro, a California charter city (“City”), and Cornerstone Community <br />Development Corp. DBA Building Futures with Women and Children, a California nonprofit corporation <br />(“Participant”), Unique Entity Identifier (U.E.I.): J9JDRNHKRYU7. City and Participant are hereinafter <br />collectively referred to as the “Parties.” <br /> <br />RECITALS <br /> <br />A. The City receives funds from HUD under Title I of the Housing and Community Development <br />Act of 1974, as amended (“CDBG”). The CDBG funds must be used by the City in accordance with 24 CFR <br />570 et seq. (the “CDBG Regulations”). <br /> <br />B. The City received funds designated by the American Rescue Plan Act of 2021 (“ARPA”). <br />The ARPA funds are designated for COVID-19 recovery activities. <br /> <br />C. Participant has a right to occupy and operate its programs and services upon that certain <br />real property located at 501 Davis Street, San Leandro, California, legally described in Exhibit A (the <br />“Property”). <br /> <br />D. Participant desires to perform capital improvements related to the Property, as described <br />under the scope of work, attached hereto as Exhibit B and incorporated herein, including bathroom <br />repair/upgrade, replace/repair exterior ramp and replace/repair common room flooring, as well as <br />infrastructure upgrades, and seeks City’s assistance to accomplish this goal (the “Improvements”). The <br />owner of the Property has consented to the performance of the Improvements. <br /> <br />E. City desires to provide CDBG funds to qualified local nonprofit organizations like Participant <br />in order to assist such organizations with capital improvement projects. <br /> <br />F. City has determined that Participant is a qualified local nonprofit organization and is eligible <br />to receive a loan of ARPA and CDBG funds to construct the Improvements (the “ARPA and CDBG Loan”). <br /> <br />G. The City Council approved its FY2022-2023 U.S. Department of Housing and Urban <br />Development Annual Action Plan, which included funding for the CDBG portion of the ARPA and CDBG <br />Loan, on May 13, 2022. <br /> <br />H. Concurrently herewith Borrower shall execute a promissory note (the “ARPA and ARPA <br />and CDBG Note”) in the amount of the ARPA and CDBG Loan. This Agreement and the ARPA and CDBG <br />Note are collectively hereinafter referred to as the “Loan Documents.” <br /> <br />I. The California Environmental Quality Act (Public Resources Code Sections 21000 et seq.) <br />(“CEQA”) imposes no conditions on the City's consideration and approval of this Agreement because the