April 20, 2010

San Leandro Crossings Project Delayed

At the April 19, 2010, meeting of the San Leandro City Council, San Leandro City Manager Steve Hollister announced that the San Leandro Crossings project is delayed until at least this summer. The project has the been the subject of City Council closed sessions on March 1, April 5, April 12, and April 19.

Hollister read the following statement:

Tonight the Council will not be taking action on this item this evening. It will be removed from the agenda and brought back sometime in the summer. The project will be delayed due to uncertainties in the housing and financial markets at this time. The City has been working diligently with all parties, Westlake, Bridge Housing, and Housing and Community Development, or HCD, and will continue to do so. We are hopeful that we can proceed with the project in such a manner that will satisfy HCD requirements and the needs of the developers and the City. Some of the factors that have resulted in this delay are: Currently, HCD has strict deadlines for expenditure of grant funds, and commencement and completion of construction; HCD staff, including the executive staff, was unable to commit to providing an extension for the construction at this time; Westlake was unwilling to execute the HCD documents without the extension; Bridge Housing was unable to continue without assurance from the Housing and Community Development Department that the Housing and Community Development document would be executed in time to meet the requirements of their lenders and the tax credit deadline.
Bridge and Westlake both have indicated that they are both committed to work together to address their concerns and to bring this project back for the Council's consideration.
Posted by Mike Katz-Lacabe at April 20, 2010 12:02 AM | TrackBack
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