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City of San Leandro Civic Center, 835 E. 14th Street San Leandro, California 94577 www.sanleandro.org •Lewelling Navigation Center Awarded $3.5 million in State and Federal funding – State Assembly Bill (AB 102), the Budget Act of 2023, included $2.5 million for the acquisition and renovation of the Nimitz Motel to the San Leandro Navigation Center/Permanent Supportive Housing project. The City also received a $1 million federal earmark in Community Project Funding through a Department of Housing and Urban Development (HUD) Economic Development Initiative (EDI) grant. •Habitat For Humanity Affordable Housing Project Approved – The Board of Zoning Adjustments approved entitlements for a new affordable housing development at 98 and 100 Castro Street, consisting of three new single-family residences. The property owner and project applicant, Habitat for Humanity, East Bay Silicon Valley, Inc., will be restricting sale of the three new homes to be affordable to moderate-income households. This project supports various goals and policies in the General Plan Housing Element aimed at increasing the supply of affordable housing in San Leandro. •Monarch Bay Shoreline Development – At the end of 2023, the Developer went into default on the seller-financed loan for sale of the Single-Family Property due to nonpayment of interest, and in 2024, the City started the foreclosure process on the loan. In June the Developer filed for Chapter 11 bankruptcy. The bankruptcy process is expected to last at least 9 months. During the bankruptcy process the City continues to diligently process the Developer’s applications for permitting approvals as legally and contractually required. As of June 30, 2024, the City has recorded a loan receivable from Cal-Coast of $26,416,951 in the Shoreline Enterprise Fund, which includes the principal amount of the loan of $24,882,958, and accrued interest of $1,533,993. FINANCIAL INFORMATION City Budget & Budgetary Controls The City Council is required to adopt a final budget by passing a budget resolution no later than June 30, following a public hearing process. This annual budget serves as the foundation for the City’s financial planning and control. The budget is prepared by fund, function (Public Safety), and department (Police). The legal level of budgetary control is at the fund level. The City Manager is authorized to transfer budgeted amounts between departments and line items within any fund. Any revisions that alter the net balance of any fund must be approved by the City Council. Transfers between funds must be approved by the City Council. At the end of the fiscal year, encumbered appropriations are carried forward and become part of the following year’s budget whi le appropriations that have not been encumbered lapse, unless otherwise authorized by the City Council and the City Manager. ix