Loading...
Resolution 15342CITY OF ALAMEDA RESOLUTION NO. 15342 PROVIDING WRITTEN CONFIRMATION OF PREVIOUS CITY COUNCIL AUTHORIZATION OF A PORTION OF THE CITY BASE ALLOCATION AND REQUIRED MATCH AMOUNT FOR SITE A EDEN AFFORDABLE FAMILY PROJECT FOR APPLICATION TO COUNTY RENTAL HOUSING DEVELOPMENT FUND WHEREAS, the City of.Alameda ("City") and the Alameda Point Partners, LLC, ("APP") entered into a Disposition and Development Agreement for Alameda Point -Site A dated as of August 6, 2015 ("DDA"), authorized by City of Alameda Ordinance No. 3127, whereby the City agreed to convey to APP property located at the former Naval Air Station Alameda (commonly referred to as Alameda Point) under certain terms and conditions, including a Development Plan and an Affordable Housing Implementation Plan; and WHEREAS, the DDA approved on July 7, 2015 consists of development of a 68 - acre area within Alameda Point that extends generally from the Main Street entrance of Alameda Point to the eastern edge of the Seaplane Lagoon, and includes 800 housing units, 600,000 square feet of commercial development, and extensive parks and utility infrastructure (Site A Project); and WHEREAS, two hundred (200) of the residential units (25%) in the Site A Project are required to be affordable units, including approximately one hundred thirty (130) affordable units that will be provided in two projects on Block 8 (Affordable Housing Projects): a family project with approximately 70 units (Family Project), and a senior project with approximately 60 units (Senior Project); and WHEREAS, the DDA and the Affordable Housing Implementation Plan approved as part of the DDA approved the donation of City land and a developer contribution from APP in the amount of $3 million to be used toward the Site A Affordable Housing Projects; and WHEREAS, in March 2016, APP and Eden Housing Inc. entered into and the City consented to a partial assignment of the DDA whereby Eden Housing assumed the obligations to develop the Site A Affordable Housing Projects under the DDA and the Affordable Housing Implementation Plan approved as part of the DDA and the City consented to the designation of Eden Housing as the Qualified Affordable Housing Developer for the Site A Affordable Housing Projects consistent with the DDA; and WHEREAS, in November 2016, Alameda County voters passed a $580 million Countywide Housing Bond (Measure Al) which will fund three homeownership programs and two rental housing development programs; and WHEREAS, $425 million of the total Housing Bond, is allocated to the Rental Housing Development Fund to assist in the creation and preservation of affordable rental housing for vulnerable populations and $225 million is allocated as "Base City Allocation" funding to Alameda County jurisdictions based on a geographical allocation formula, which for the City of Alameda's Base Allocation is $10.4 million; and WHEREAS, in March 2017 by motion, the City Council approved a Pre - Commitment of the City Base Allocation to the Site A Affordable Housing Projects totaling $5 million; and WHEREAS, on December 8, 2017, the City executed a ground lease with Eden Housing providing Eden Housing with direct site control over the land under Block 8 Family Project and Senior Projects consistent with the DDA and the Affordable Housing Implementation Plan approved as part of the DDA; and WHEREAS, Eden Housing is a highly qualified nonprofit affordable housing developer that constructs and manages thousands of units of affordable housing throughout the Bay Area; and WHEREAS, Eden Housing, in coordination with APP, has expended significant staff and financial resources securing financing sources to fund the Site A Affordable Housing Projects and have been successful at obtaining numerous funding sources; and WHEREAS, on February 4, 2014, the City of Alameda certified the Alameda Point Final EIR in compliance with the California Environmental Quality Act (CEQA), and the Final EIR evaluated the environmental impacts of redevelopment and reuse of the lands at Alameda Point consistent with the Town Center Plan, which included Block 8 within Site A; and WHEREAS, confirming the previous approval of the City land donation and APP's developer contribution as the match required for applications for the City's Base Allocation of Measure Al funds for Site A/Eden Affordable Housing Projects (Family and Senior Apartments) will help Eden Housing preserve their existing financing commitments and increase their competitiveness for obtaining the remaining financing sources for the Family and Senior Projects, which will provide approximately 70 units and 60 units respectively, for a total of 130 affordable housing units at Site A. NOW THEREFORE, BE IT RESOLVED that the City Council confirms the previous authorization of the $3 million developer contribution, and Block 8 land donation and the $5 million of the City Base Allocation, $2 million of which will be used for the Site A/Eden Affordable Family Project as the match for the application for the County Rental Housing Development Fund. I, the undersigned, hereby certify that the foregoing Resolution was duly and regularly adopted and passed by the Council of the City of Alameda on the 16th day of January, 2018, by the following vote to wit: AYES: Councilmembers Ezzy Ashcraft, Matarrese, Oddie, Vella and Mayor Spencer — 5. NOES: None. ABSENT: None. ABSTENTIONS: None. IN WITNESS, WHEREOF, I have hereunto set my hand and affixed, the official seal of said City this 17th day of January, 2018. leu�'r� L"-� - Lara Weisiger, Citerk City of Alameda Approved as to form: �v �v Jato� Kern, City norney City 6f Alameda