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2005-04-19 Joint CC CIC MinutesMINUTES OF THE SPECIAL JOINT CITY COUNCIL AND COMMUNITY IMPROVEMENT COMMISSION MEETING TUESDAY- -APRIL 19, 2005- -7:27 P.M. Mayor /Chair Johnson convened the Special Joint Meeting at 7:56 p.m. ROLL CALL - Present: Councilmembers /Commissioners Daysog, deHaan, Gilmore, Matarrese, and Mayor /Chair Johnson - 5. Absent: None. MTI\TTTT7q (05- 157CC /05- 016CIC) Minutes of the Special Joint City Council and Community Improvement Commission Meeting held on April 5, 2005. Approved. Vice Mayor /Commissioner Gilmore moved approval of the minutes. Councilmember /Commissioner Matarrese seconded the motion, which carried by unanimous voice vote - 5. AGENDA ITEMS (05- 158CC /05- 017CIC) Recommendation to approve the Annual Operating and Capital Budget for the Bayport Project. The Acting City Manager stated the budget scenario is considerably better based upon the profit participation section that allows participation in some of the developer's profit. The Development Services Director gave a brief report on the project. Councilmember /Commissioner Daysog inquired whether bond issuance is not required because revenue generated would cover public improvements and still provide an $800,000 profit. The Development Services Director responded that one bond was issued early in the project; the project's bottom line does not require using any other bonds to finish the project. Mayor /Chair Johnson inquired whether bond capacity is freed up for other potential uses in the future. The Development Services Director responded in the negative; stated the existing agreement does not just contemplate the current phase; the obligations of the projects are linked; any project proceeds that flow from Phase I tax increments are obligated to Phase II Special Joint Meeting Alameda City Council and 1 Community Improvement Commission April 19, 2005 unless negotiated differently. Mayor /Chair Johnson inquired whether Phase II has been negotiated, to which the Development Services Director responded Phase II has a Disposition and Development Agreement (DDA). Mayor /Chair Johnson inquired whether the DDA provisions could be renegotiated, to which the Development Services Director responded in the affirmative. Councilmember /Commissioner Matarrese inquired whether the bottom line of the next phase is more favorable. The Development Services Director responded that a developer advance is not required; available funds would be required to be put into the infrastructure in a different pattern. Councilmember /Commissioner Matarrese inquired whether the Research and Development Park and Business Park look more favorable, to which the Development Services Director responded that she could not respond; there are other issues related to the economics. Councilmember /Commissioner Matarrese inquired whether the profits rolling into the next project allow for a more favorable situation, to which the Development Services Director responded possibly. Councilmember /Commissioner deHaan inquired whether the price of homes is the principal factor for the current situation, to which the Development Services Director responded in the affirmative. Councilmember /Commissioner deHaan stated the break -even point was $650,000. The Redevelopment Manager noted the average sale price of the homes was $725,000. Councilmember /Commissioner Daysog stated that news is good overall; profit participation was initially questionable. Councilmember /Commissioner deHaan moved approval of the staff recommendation. Councilmember /Commissioner Matarrese seconded the motion, which carried by unanimous voice vote - 5. Doug Biggs, Alameda Point Collaborative (APC), stated that the APC was originally granted 39 units to meet housing needs for the homeless; APC entered into an agreement with the City to replace Special Joint Meeting Alameda City Council and 2 Community Improvement Commission April 19, 2005 the original units in east housing near the corner of Atlantic Avenue and Fifth Street; the City told APC that there are no funds to build the 39 units; the City is contemplating financing a 39- unit project through other funds instead; the City specifically designated project revenues from the Catellus Project as the primary source for the 39 units, including $2 million from the sale of land; that designation of funds is not shown in the accounting presented tonight; without the agreement with APC to relocate units, the Bayport Project would not have happened; the use of the Catellus funds could go a long way toward making units more affordable and serve the homeless. Councilmember /Commissioner Matarrese requested an Off Agenda Report in response to Mr. Biggs' comments. (05- 159CC /05- 018CIC) Joint Public Hearing to consider authorizing the City Manager /Executive Director to enter into a Disposition and Development Agreement with Alameda Entertainment Associates, L.P., approval of the 33433 Report, and adoption of a Mitigated Negative Declaration for the Alameda Theater, Cineplex and Parking Structure Project (State Clearinghouse #2004 -122 -042). (05- 018A /CIC) Adoption of Resolution Approving and Authorizing Execution of a Disposition and Development Agreement Between the Community Improvement Commission and Alameda Entertainment Associates, L.P., and Approving Certain Mitigation Measures for the Project and Adopting a Mitigation Monitoring Program; and (05- 159A /CC) Adoption of Resolution Approving and Authorizing Execution of a Disposition and Development Agreement Between the Community Improvement Commission and Alameda Entertainment Associates, L.P., and Adopting a Mitigated Negative Declaration and Mitigation Monitoring Program. Continued to May 3, 2005. ADJOURNMENT There being no further business, Mayor /Chair Johnson adjourned the Special Joint Meeting at 8:06 p.m. Respectfully submitted, Lara Weisiger, City Clerk Secretary, Community Improvement Commission The agenda for this meeting was posted in accordance with the Brown Act. Special Joint Meeting Alameda City Council and 3 Community Improvement Commission April 19, 2005