2004 Section 108 Project Summaries - California

Bellflower Downtown Revitalization
BORROWER: BELLFLOWER
STATE: CA
COMMITMENT AMOUNT: $7,000,000
Bellflower will use the Section 108 funds to finance construction of public improvements, property acquisition, rehabilitation, construction of a new retail building, and economic development activities for the Eastside and Westside of the Bellflower Downtown Revitalization area. These activities will benefit low- and moderate-income persons through area benefit and elimination of slum and blight.

Camp Hope Project
BORROWER: SAN DIEGO
STATE: CA
COMMITMENT AMOUNT: $280,000
The City of San Diego, California will use Section 108 loan proceeds to make a loan to the San Diego Justice Center Foundation to construct "Camp Hope." The camp will provide a variety of services to victims of domestic violence and abuse. These activities will benefit low- and moderate-income persons.

Downtown Parking Garage Project
BORROWER: WATSONVILLE
STATE: CA
COMMITMENT AMOUNT: $2,530,000
Watsonville will use the Section 108 guaranteed loan to assist in financing the construction of a 460-space, municipal downtown parking garage located in the city's Federally designated Enterprise Community. The development of the garage will cause new agency development and private commercial development near the garage that will create an estimated 342 new jobs, at least 51 percent of which will be held by or made available to low- and moderate-income persons.

Downtown Revitalization Project
BORROWER: STOCKTON
STATE: CA
COMMITMENT AMOUNT: $12,500,000
Stockton will use the Section 108 guaranteed loan funds, in conjunction with a Brownfields Economic Development Initiative grant of $2,000,000, to finance project related activities for four separate commercial development projects in downtown Stockton. The funded activities for these projects include acquisition of real property, construction of public facilities and improvements, and payment of interest on the Section 108 guaranteed loan . The city estimates that these funded project related activities will assist in the creation 650 new full-time jobs of which at least 51% will be held by low- and moderate-income persons.

Eucalyptus & Moneta Gardens Street Improvements
BORROWER: HAWTHORNE
STATE: CA
COMMITMENT AMOUNT: $4,300,000
Hawthorne will use Section 108 funds for reconstruction of public streets and sidewalks. The street reconstruction includes: curbs and gutters, sidewalks, street paving and installation of traffic signals. The service area's total low- and moderate-income population is 63.1 percent.

Hospital Parking Structure
BORROWER: VISALIA
STATE: CA
COMMITMENT AMOUNT: $2,171,000
Visalia will use the Section 108 guaranteed loan, in conjunction with a $244,000 Brownfields Economic Development Initiative grant, to assist in financing the construction of a municipal, 700 space parking garage on a downtown site. The site was formerly occupied by a tire and battery store. The parking facility will serve the $400 million Kaweah Delta Hospital expansion and nearby retail and office uses. The funded activities include site acquisition, clearance and demolition, remediation of asbestos, small business relocation, and garage design and construction. The garage will enable the Hospital to expand and create an estimated 200 new jobs, at least 51 percent of which will be held by low- and moderate-income persons.

Inglewood Business Loan Program
BORROWER: INGLEWOOD
STATE: CA
COMMITMENT AMOUNT: $10,000,000
Inglewood will use Section 108 guaranteed loan funds to establish a Business Expansion Loan Program to encourage expansion and development of commercial and industrial businesses. The economic development activities will benefit low- and moderate-income persons and, in some cases, prevent or eliminate slums or blight.

Job Creation Project
BORROWER: HAWTHORNE
STATE: CA
COMMITMENT AMOUNT: $2,500,000
Hawthorne will use Section 108 guaranteed loan funds to provide funding assistance to a business to finance tenant-build-out improvements for a new gym adjacent to the former Hawthorne Mall. The project will create approximately 80 new full time jobs, at least 51 percent of which will be held by or made available to low- and moderate-income persons.

Jubilee Village Housing Development
BORROWER: BERKELEY
STATE: CA
COMMITMENT AMOUNT: $3,008,000
Berkeley will use Section 108 guaranteed loan funds to provide funding assistance to a non-profit entity , Jubilee Restoration, Inc., to construct Jubilee Village, a mixed-use, affordable housing and commercial project. The development will include 2,500 square feet of commercial/retail space, 2,000 square feet of community space and 120 income restricted residential rental units. The project will create approximately 5 new jobs which will be held or made available to low- and moderate-income persons and housing activities where at least 51% of the units will be occupied by low- and moderate-income households.

La Cienega Jefferson Project
BORROWER: LOS ANGELES
STATE: CA
COMMITMENT AMOUNT: $10,000,000
Los Angeles will use the Section 108 guaranteed loan, in conjunction with $1,090,000 Brownfields Economic Development Initiative grant, to provide financing assistance for two economic development projects. One project includes site acquisition and the development of 12 story office tower with a four level parking deck. The other project involves the development of a 60,000 square foot retail/entrepreneurial training facility. The city estimates that these two projects will create 992 new jobs, at least 51 percent of which will be held by low- and moderate-income persons.

Midtown Plaza Project
BORROWER: LOS ANGELES
STATE: CA
COMMITMENT AMOUNT: $7,000,000
Los Angeles will use Section 108 guaranteed loan funds to partially finance the development of a 379,000 square foot retail facility The assistance to a for-profit business is a component activity of an economic development project. The activity will prevent or eliminate slums or blight.

Mount Hope Redevelopment and Senior Center Projects
BORROWER: SAN DIEGO
STATE: CA
COMMITMENT AMOUNT: $3,131,000
San Diego will use Section 108 guaranteed loan funds to assist with the development of a senior citizen center and public improvements consisting of sidewalks, curbs and gutters, in the Mount Hope Redevelopment Area. Both of the proposed activities are located in the southeastern area of the City, which is depressed both economically and physically. The activities will benefit an area of low- and moderate-income persons.

NASA Neighborhood Park
BORROWER: DOWNEY
STATE: CA
COMMITMENT AMOUNT: $2,500,000
Downey will use the Section 108 guaranteed loan to finance the development of a new 12 acre municipal park for recreational activity. The park which will primarily benefit the low and moderate income persons in the surrounding area is the redevelopment of a portion of 160 acres of surplus federal property conveyed to the city by its formerly owner, the National Aeronautics and Space Administration.

Neighborhood Center at Marshall Park
BORROWER: MODESTO
STATE: CA
COMMITMENT AMOUNT: $4,500,000
Modesto will use the Section 108 guaranteed loan to finance the rehabilitation and construction of neighborhood facilities in the Marshall & Cesar Chavez Park areas. In Marshall Park, the city will construct a joint service facility, which will include a police sub-station, a neighborhood fire station, and recreational services. The Maddox Youth Center, in Cesar Chavez Park, will be enlarged and modernized. These two public facility projects will provide safety and family and youth services to a low-income populated area in the western sector of Modesto.

NTC Redevelopment Project
BORROWER: SAN DIEGO
STATE: CA
COMMITMENT AMOUNT: $5,910,000
San Diego will use the Section 108 guaranteed loan in conjunction with a $700,000 Brownfields Economic Development Initiative grant and provide this financing, through its Redevelopment Agency, to the NTC Foundation for the development of the Promenade Centre. This project is a 28 acre civic, arts, and cultural center that is one component of the redevelopment of a former 235-acre Naval Training Center, conveyed to the city in 1997 as surplus federal property. The NTC Foundation will use the city's funding to rehabilitate four deteriorated, historical buildings to aid in eliminating slums or blight in the designated area as part of the first phase of the Promenade Centre.

Richman Park Area Capital Improvements Project
BORROWER: FULLERTON
STATE: CA
COMMITMENT AMOUNT: $7,500,000
Fullerton will use the Section 108 funds to finance public improvements in the Richman Park area. This includes installing security lighting, replacing deteriorated play equipment, removing large rock walls, and rehabilitating all areas of the Park to comply with Americans Disabilities Act requirements, including adjacent street improvements. These public improvements will primarily benefit low- and moderate-income persons.

Whittier Blvd. Revitalization Project
BORROWER: MONTEBELLO
STATE: CA
COMMITMENT AMOUNT: $6,500,000
Montebello will use the Section 108 guaranteed loan, in conjunction with a $2,000,000 Brownfields Economic Development Initiative Grant, to finance activities in Phase I of its Whittier Boulevard Streetscape project. These funded activities include improvements to the roadways, crosswalks, new curbs, gutters and street lightning. These activities will primarily benefit low and moderate income persons.