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<br />other services required by applicable licensing law. The development will be licensed with the <br />State Licensing/Certification Agency, Department of Social Services. <br /> <br />The proposed unit mix for the project is as follows: <br /> <br /> Unit Mix and Affordability for the Assisted Living Development <br /> Affordable Units/ 25% of Affordable Units at <br /> Area Median Income 50% of Area Median <br /> Number of Total Units (AMI) Income (AMI) <br />Studio Units 22 9 13 <br />One-Bedroom Private Units 57 0 8 <br />Two-Bedroom Units 7 0 0 <br />Alzheimer Units 19 0 1 (Bed) <br /> TOTAL 105 9 22 <br /> <br />Proiect OwnershiD and Proiect ParticiDants <br /> <br />The assisted living project ownership and financing includes a number of entities each with its own <br />unique role. A summary ofthe entities involved are as follows: <br /> <br />}> BLP Partnership Inc., a California nonprofit public benefit corporation (BLP) - BLP will <br />be the project Lessee, Owner and Borrower. The corporation will be governed by a board <br />of directors appointed by BRIDGE. The City will not be an owner of the development. <br /> <br />}> Eskaton Properties Incorporated (Eskaton) - BLP will contract with Eskaton to provide <br />property management and all operational services including lease-up, maintenance, <br />staffing, service management, etc. Formed over 3S years ago, Eskaton is a non-profit <br />provider of a range of services including apartment communities, assisted living <br />developments, skilled nursing, in-home care, and retirement communities. The company <br />has approximately 1,300 employees serving over 12,000 people annually. As indicated, <br />staff and members of the Assisted Living Subcommittee visited two of Eskaton' s managed <br />communities in the Sacramento area and were impressed by their service commitment, <br />level of property maintenance, and senior care. <br /> <br />}> City of Pleasanton - The City will lease its 3.S9-acre site to BLP for the purpose of <br />constructing and operating the project. The City will also be a project lender providing a <br />$2.49 million loan from the City Lower Income Housing Fund and its $1.S million HELP <br />loan to the project to meet development costs. The City will sponsor the tax-exempt <br />Certificates of Participation (COP) financing in an amount estimated at $19.7 million but <br />will not be obligated for their repayment. <br /> <br />SR:05:219 <br />Page 4 <br />