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REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br /> <br />September 25, 2017 <br /> <br />SUBJECT <br />Bradford Street Disposition and Development Agreement with MidPen Housing <br /> <br />RECOMMENDATION <br />Adopt a resolution approving a Disposition and Development Agreement between the <br />City of Redwood City and MidPen Housing for the development of affordable housing, a <br />childcare center and a creekside trail on real property currently owned by the City and <br />authorize the City Manager to execute the agreement and related documents <br /> <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, the City Council selected MidPen Housing <br />Corporation (“Developer”) as the developer of the Bradford Street Affordable Housing <br />site for the development of affordable rental housing, a childcare center and publicly- <br />accessible creekside trail along Redwood Creek. <br /> <br />In order to proceed with the next steps for the development of the Bradford site, the City <br />entered into an Exclusive Negotiating Rights Agreement (“Agreement”) with the <br />Developer to negotiate the terms of a Disposition and Development Agreement (“DDA”). <br />The purpose of the Agreement was to establish procedures and standards for the <br />negotiation of the DDA that includes specific conditions for site conveyance, the scope <br />and terms of affordability restrictions, housing unit type and unit mix for the <br />Development, and the terms, if any, under which the City may provide financial <br />assistance for the Development. <br /> <br />On May 23, 2016, the City Council approved the Agreement with the Developer for the <br />Bradford Street Housing Development and authorized the City Manager to execute the <br />Agreement. On February 13, 2017, the City Council approved an extension to the <br />Agreement that extended the termination date to August 17, 2017 to allow additional <br />time for the Developer and City to address unanticipated and complex land title matters <br />and subsequent DDA terms negotiations. On July 24, 2017, the Council approved a <br />second extension of the termination date to October 16, 2017 to allow additional time to <br />complete the negotiations, work through title issues and prepare documentation. <br /> <br /> <br /> <br />6.3.B. - Page 1