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We also want to note the accomplishments the City has made utilizing the $1.5 million <br /> from the City Lower Income Housing funds, $13.4 million in bond financing, and tax credits <br /> through the Lower Income Housing Tax Credit program. Through the use of these resources, the <br /> City staff completed negotiations with Windstar Properties and Bay Area Rapid Transit (BART) <br /> on a revised affordable housing agreement for a new 350-unit, transit-oriented apartment <br /> complex planned for construction next to the new BART station at Stoneridge Mall. We <br /> understand that the complex will include 70 units of affordable units for very low-income <br /> families at 50% of the Area Median Income. <br /> Finally, our office is pleased to partner with the City to help achieve its affordable <br /> housing and community development goals. We recognize and appreciate the commitment, <br /> expertise, and professionalism demonstrated by City staff in contributing to the ongoing <br /> accomplishments and success of both the housing and non-housing programs. If you have any <br /> questions,please do not hesitate to contact me at (415)489-6598 or HUD Community Planning <br /> and Development Representative Hataitip Bufiy-Feng at(415)489-6573. <br /> Sincerely, <br /> ORIGINAL SIGNED BY <br /> M fan &eSe'1ENMER <br /> Acting Director <br /> Community Planning and Development Division <br /> cc: <br /> Mr. Nelson Fialho <br /> City Manager <br /> Mr. Scott Erickson <br /> Housing Specialist <br />