City Council
MEETING DATE: 3/9/2016
TITLE:
Title
Authorization to trade Housing Successor Agency Land for City Owned Land
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FROM:
Tami E. Scott, Administrative Services Director
RECOMMENDATION:
Recommendation
Staff recommends the City Council adopt a Resolution approving the trade of parcels, determining the parcels traded to be of equivalent value, and authorizing the City Manager to prepare and record all documents necessary to effectuate the trade; and that the Council as Housing Successor adopt a Resolution approving the trade of parcels, determining the parcels traded to be of equivalent value, and authorizing the City Manager to prepare and record all documents necessary to effectuate the trade.
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BACKGROUND:
The City owns ten parcels of vacant land located on Landau Boulevard between Vega Road and Elizabeth Road that were originally anticipated to be developed as a park. These parcels are approximately nine acres in size and are rectangularly shaped and are easily accessible by Landau and are adjacent to public transportation. The site is zoned R-1. The City's former redevelopment agency acquired approximately 7.5 acres of vacant land (zoned R-2) plus a contiguous quarter acre parcel on San Diego Drive (zoned R-1) that was to be used for access to the larger parcel from San Diego Drive as a housing site. This site is irregularly shaped and presented many unique development challenges. The former redevelopment agency had entered into a Disposition and Development Agreement with the Southern California Housing Development Corporation in 2006 for this housing site that was recently terminated because in the interim, financial feasibility for affordable housing became impossible due to changes in scoring criteria for other housing funding sources and the loss of redevelopment.
DISCUSSION:
Park needs of the Dream Homes neighborhood were being facilitated by a joint use agreement on the Aqua Caliente School site. This school is now being completely rebuilt with the result being that park use of the site will no longer be feasible. As such, the City and the City in its capacity as the Housing Successor to its former redevelopment agency, desire to trade the City owned Landau site for the Housing Successor owned housing site in the Dream Homes Area. The Landau site will then become an asset of the Housing Successor and, as such, can only be used for affordable housing activities. This site is preferable for affordable housing development given its rectangular shape and its accessibility to public transportation. The City will then be able to potentially use the Dream Homes land as a site for a replacement park to serve this community.
FISCAL IMPACT:
This transaction would be a straight trade of approximately 9 acres of land currently owned by the City that is more desirable as an affordable housing site for an approximate 7.75 acre site now owned by the City in its capacity as the Housing Successor to the former redevelopment agency that is needed to accommodate park needs for the Dream Homes neighborhood. As such, the only costs associated with this transaction will be staff time needed to prepare the necessary documents.
ATTACHMENTS:
Maps depicting both sites