Housing Successor Agency
MEETING DATE: 8/24/2016
TITLE:
Title
Exclusive Right to Negotiate with Urban Housing Communities for Land Located on Landau Blvd between Vega Road and Elizabeth Road
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FROM:
Tami E. Scott, Administrative Services Director
RECOMMENDATION:
Recommendation
Staff recommends the City Council authorize the City Manager to execute an Exclusive Right to Negotiate on behalf of the Housing Successor Agency with Urban Housing Communities through June 30, 2018, for the exploration of a Veteran's Housing Project on vacant land on Landau between Vega Road and Elizabeth Road consisting of approximating 9 acres (APN's: 678-060-001 through 005 and 678-060-049 through 053).
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BACKGROUND:
The Housing Successor Agency owns ten parcels of vacant land located on Landau Boulevard between Vega Road and Elizabeth Road that are approximately nine acres in size, rectangular in shape and easily accessible by Landau. The site is adjacent to public transportation and is zoned R-1. This is the most readily developable larger site owned by the Housing Successor Agency.
Staff has been approached by Urban Housing Communities ("UHC"), an experienced affordable housing developer, who desires to construct an affordable Veterans housing project of approximately 60 units on at least a portion of the site. In order to apply for the various funding sources that may be required to make this project a reality, UHC needs to provide evidence of site control. According to UHC, having an Exclusive Right to Negotiate ("Agreement") with the Housing Successor Agency would be adequate for this purpose. Entering into such an Agreement would commit the Housing Successor to only exploring development scenarios on this site with UHC during the period of the Agreement. The Agreement would acknowledge that the Housing Successor may be required to contribute this land as one source of project financing but that other funding sources will also have to be identified a...
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