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<br />80 <br /> <br />o Completed the acquisition of property for the Bradford Street Project (estimatedPage 2 <br />to include 50 to 76 affordable senior units) <br /> <br />Expenditures 2004/05 - 2006/07 <br /> <br />o Total expenditures = $6.7 million* <br />o Villa Montgomery and Habitat = $1.97 million <br />o Bradford Street Property Assemblage = $1.46 million <br />o Administration = $2.85 million <br />o RehabilitatiOn & Home Improvement Loah Program = $.36 million <br />o Downtown Precise Plan=$.1 0 million <br />* Please see details in Table 5 of attached report <br /> <br />Planned Activities throuqh December 2009 <br /> <br />o Select a developer for and start construction of the Bradford Street Project; <br />o Accumulate funds in a "Land banking" account to be used to acquire land for <br />and/or subsidize construction of future affordable housing projects <br />o Anticipate receiving $2.25 million of tax increment in 2007/08 and $3.75 million in <br />FY 08/09 (including deposit from non-housing fund to satisfy Legal Aid Society <br />obligation) <br />o Anticipate spending $5.8 million over next two fiscal years on affordable housing <br />projects <br /> <br />Impact of New Reoional Housing Needs Allocation (RHNA) on Aqencv Expenditures <br /> <br />Agency will be required to expend Low/Moderate Funds in the following proportions: <br /> <br />o At least 39% on Very Low income housing <br />o At least 28% on Low Income housing and <br />b No more than 33% on Moderate Income housing <br /> <br />Non-Housing Activities and Funds <br /> <br />Accomplishments 2005 - 2007 <br /> <br />o Completed "On Broadway" retail-cinema project and downtown parking garage <br />o Funded and completed Theater Way streetscape improvements <br />o Completed Courthouse Square <br />o Completed Downtown Precise Plan <br />o Funded downtown marketing and special events <br />o Funded grants for storefront improvements <br />