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3. Parking <br />This project was intended to provide funds to assist the City in providing <br />additional parking in the downtown. It has contributed to the funding required for <br />land assembly costs, associated with the underground public parking structure to <br />be constructed for the Retail /Cinema project, primarily relocatioii assistance <br />payments and costs associated with consultant services required for appraisals, <br />acquisition, relocation, and eminent domain legal services. <br />4. City Hall Plaza <br />This project allocated $200,000 for the installation of the planned fountain and <br />other modifications to the plaza between City Hall and City Center Plaza. No <br />expenditures were incurred and it is recommended that these funds be <br />reallocated to the "Public Open Spaces" project in the proposed Downtown <br />Funding Plan. <br />5. Childcare Site Acquisition <br />$500,000 in funding was set aside in anticipation of locating an appropriate site <br />for a childcare facility in the downtown. A site on Bradford St. that might <br />incorporate Agency owned land adjacent to the Creek is currently being <br />considered. Conceptual plans for several options have been prepared, some of <br />which involve adjacent parcels privately owned. Discussions with those property <br />owners need to take place to determine if the project is feasible at this location. <br />6. Storefront Improvement Program <br />This program has been operating for ten years. In 2002 -2003, $60,000 was <br />budgeted. Rebates were made to 2 properties: 921 Main Street ($2,619) and <br />1101 Main Street ($25,200 encumbered). <br />REDEVELOPMENT - HOUSING <br />1. First Time Home Buyer Program <br />This program was funded at $1,000,000 in 2002 -2003. The program made eight <br />$100,000 silent second mortgages during the year. In addition, two loan <br />commitments were reserved and will be funded in 2003 -2004. <br />2. Housing Projects <br />This program committed $500,000 toward the acquisition and rehabilitation of 27 <br />affordable housing units that were at risk of being converted to market rent. The <br />Agency's loan guarantees funds for the California Housing Finance Agency <br />(CaIHFA) which is making the first mortgage to acquire the property from a <br />limited partnership. CaIHFA requires as a condition of their loan that funds be <br />available to make certain immediate improvements to preserve the long term <br />integrity of the property. Funds for this activity will actually be disbursed in 2003- <br />2004. <br />z <br />