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City of San Leandro <br />Meeting Date: February 6, 2017 <br />Staff Report <br />Agenda Section:File Number:16-030 ACTION ITEMS <br />Agenda Number:10.A. <br />TO:City Council <br />FROM:Chris Zapata <br />City Manager <br />BY:Cynthia Battenberg <br />Community Development Director <br />FINANCE REVIEW:David Baum <br />Finance Director <br />TITLE:Staff Report for Approval of a Loan Agreement for Eight Hundred Thousand <br />Dollars ($800,000) Between the City of San Leandro and BRIDGE Economic <br />Development Corporation to Construct Tenant Improvements for a Childcare <br />Center at the Marea Alta Project <br />SUMMARY AND RECOMMENDATIONS <br />Childcare is a vital service for families, particularly lower income working households, in San <br />Leandro. The development of a ground floor childcare center in the Marea Alta mixed use <br />and affordable rental development is a high priority for the City. The shell of the childcare <br />center is already constructed, which was part of the Phase 1 Marea Alta development. This <br />proposed funding is for the childcare center tenant improvements. Staff recommends that the <br />City Council approve the loan amount and authorize the City Manager to execute an $800,000 <br />loan agreement between the City and BRIDGE Economic Development Corporation <br />(BREDCO), an affiliate of BRIDGE, and all other necessary documents for the design and <br />construction of the childcare center tenant improvements. <br />BACKGROUND <br />In 2009, planning entitlements for the 200 unit residential development (formerly called <br />Cornerstone and renamed Marea Alta) were approved by the Planning Commission and City <br />Council. The former Redevelopment Agency of the City of San Leandro (RDA) also approved <br />a $9.1 million development loan from RDA Housing Set-Aside Funds to BRIDGE for the <br />construction of Marea Alta. <br />The City also negotiated a memorandum of understanding (MOU) primarily between BRIDGE, <br />Davis Street Family Resource Center (Davis Street), and the City to convene a working group <br />and coordinate efforts to plan for and develop a childcare center as part of BRIDGE’s <br />proposed affordable housing development. The working group included key local <br />stakeholders such as Alameda County, the Child Care Coordinating Council of Alameda <br />County, and Congregations Organizing for Renewal (COR). For providing technical expertise <br />for these efforts, Davis Street received a $20,000 early stage planning grant from the City’s <br />Page 1 City of San Leandro Printed on 1/31/2017 <br />120