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6.3G <br />Page 15 <br />$241,381 to the project. The project also has a Housing Assistance Payment (HAP) <br />Contract with the United States Department of Housing and Urban Development. <br />Rotary Bridgeway <br />4145 Bay Street <br />Fremont, CA <br />Management Company: Mid-Peninsula Housing Management Corporation <br />Services Partner: Abode Services <br />2005-present <br />Rotary Bridgeway Apartments was the new construction of 18 transitional and <br />permanent units for formerly homeless families constructed adjacent to the Howard <br />Collins residence, an existing 8-unit transitional residence for homeless families. The <br />developments currently share site amenities. Mid-Peninsula Housing Management <br />Corporation manages both developments as well. <br />The unit mix includes 3studio, Sone-bedroom, and IOttyo-bedroom apartments. The <br />site also includes a landscaped courtyard, playground, sports courts, community room <br />with kitchen, computer lab, and laundry facilities. <br />Rents in the renovated units currently average 22% of the County's Area Median <br />Income at approximately $442 per month. <br />Services Team <br />An integrated services team has been created to provide individuals living at Rotary <br />Bridgeway Apartments with access to social services, case management, and stable <br />housing, allowing them to live independently. This team is collaboration between Mid- <br />Pen, co-owner and manager of the affordable housing, and Abode Services, anon-profit <br />community based service provider. <br />Development Cost & Financing <br />The total new construction cost was approximately $9.2 million. The City of Fremont <br />provided $3.1 million in low interest deferred loans using CDBG, HOME and <br />redevelopment funds. Alameda County provided $659,000 in HOME funds. <br />Approximately $2.5 million in equity was generated through the sale of Low Income <br />Housing Tax Credits to AIliant. Construction financing was provided by Fremont Bank. <br />9 <br />