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6.1.A. - Page 1 <br /> REPORT <br /> To the Honorable Mayor and City Council <br /> From the City Manager <br /> May 23, 2016 <br /> SUBJECT <br /> Exclusive Negotiating Rights Agreement for the Bradford Street Affordable Housing <br /> Development <br /> RECOMMENDATION <br /> By motion, approve an Exclusive Negotiating Rights Agreement with Mid Pen Housing <br /> Corporation for the Bradford Street Affordable Housing Development and authorize the <br /> City Manager to execute the agreement and negotiate the terms of a Disposition and <br /> Development Agreement <br /> BACKGROUND <br /> In June 2015, the City issued a Request for Proposals ("RFP") to select a developer to <br /> develop an affordable housing development on vacant land owned by the City. Through <br /> a competitive process, on April 11 , 2016 City Council selected MidPen Housing <br /> Corporation ("Mid Pen") as the developer of the Bradford Street Affordable Housing site <br /> for the development of affordable rental housing, a childcare center and public open <br /> space along Redwood Creek. <br /> ANALYSIS <br /> In order to proceed with the next steps for the development of the Bradford site, the City <br /> must enter into an Exclusive Negotiation Rights Agreement ("Agreement") with MidPen <br /> to conduct negotiations for the purpose of preparing a Disposition and Development <br /> Agreement ("DDA"). The purpose of the Agreement is to establish procedures and <br /> standards for the negotiation of the DDA which will include specific conditions for site <br /> conveyance, the scope and terms of affordability restrictions, unit type and unit mix for <br /> the Development, and the terms, if any, under which the City may provide financial <br /> assistance for the construction of the Development. <br /> During the term of the Agreement, both parties shall act diligently and in good faith to <br /> negotiate a DDA that will describe the terms and conditions that will govern the <br /> conveyance of the property and the development of the project. The terms and <br /> conditions shall include: (i) the disposition price and terms for conveyance of the <br /> property, (ii) conditions precedent to the conveyance of the property, (iii) requirements <br /> pertaining to the development of the project including site remediation if applicable, <br /> entitlements, design, density, phasing and development schedule, (iv) requirements <br />