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6.3G <br />Page 18 <br />Due to the State of California's budget crisis and the economic collapse in late 2008, key <br />funding for this project was unavailable when it came time to start construction in early <br />spring 2009. Mid-Pen worked with the City of San Mateo and the Housing Endowment <br />and Regional Trust (HEART) of San Mateo County to provide a bridge loan for the state <br />funding source, allowing the project to move forward and start construction in what <br />was a very challenging financing climate. Mid-Pen's ability to use its strong relationships <br />with its city and county partners is a true asset. <br />The following two projects currently in development with construction expected to <br />begin in May 2010 demonstrate I) Mid-Pen's commitment to providing support for <br />special needs residents in a senior and family project and 2) Mid-Pen's ability to leverage <br />multiple funding sources including MHSA and project-based Section 8. <br />Fair Oaks Plozo <br />Construction of 124 senior units is <br />scheduled to begin at Fair Oaks Plaza in <br />Sunnyvale in May 2010. Located next to the <br />new Santa Clara County Medical Clinic, the <br />project has a $1,872,000 Mental Health <br />Services Act (MHSA) award, 124 project- <br />based Section 8 vouchers, City of Sunnyvale financing, American Recovery and <br />Reinvestment Act 2009 (Federal Stimulus) funding, and investor tax credit equity . The <br />Santa Clara County Department of Mental Health (DMH), working with the neighboring <br />Santa Clara County Health Clinic, will be the primary service provider for the MHSA <br />residents. Mid-Peninsula Services will be the service provider for the remaining <br />residents. <br />Main Street Villoge <br />Construction of 64 units for families and <br />individuals is scheduled to begin at Main <br />Street Village in Fremont in May 2010. A <br />partnership with Allied Housing and Abode <br />Services, Main Street Village has designated <br />50% of its units for the formerly homeless, at risk of homelessness, and residents with <br />special needs. In addition to Redevelopment Agency, Alameda County, and American <br />Recovery and Reinvestment Act 2009 (Federal Stimulus) financing, the project also has a <br />$1,040,000 MHSA award and 32 project-based Section 8 vouchers. <br /> <br />12 <br /> <br />