City and Redevelopment Agency of San Leandro
Environmentally-friendly community housing project for low-income seniors
Meyers Nave attorneys assist in the development of an environmentally-friendly community housing project for low-income seniors in downtown San Leandro.
Creative Financing
Meyers Nave represented City of San Leandro and the San Leandro Redevelopment Agency in connection with the provision of $4 million of financing for Estabrook Place, which adheres to environmentally friendly standards for low-income seniors.
The project was financed Funded through the HUD 202 Supportive Housing for the Elderly Program and the Low Income Housing Tax Credit Program.
Built for Low Income Seniors
Estabrook Place serves households earning up to 50 percent of the Alameda County Area Median Income and residents pay 30 percent of their income for rent. It is conveniently located near San Leandro’s downtown corridor.
Our Role
Our attorneys negotiated and drafted an Owner Participation Agreement, loan documents and affordable housing regulatory agreements, and related agreements.
Status
Status: Completed
Completed Date: September 2010
Attorneys
 |
|
Susan Bloch specializes in redevelopment and real estate matters, and is the Chair of the firm’s Redevelopment, Real Estate and Affordable Housing Practice Group. Susan represents public agencies and private and non-profit developers in transactions involving the acquisition, development, financing, leasing and sale of residential, commercial and industrial properties; and the development and implementation of affordable housing policies and programs. |