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6.1.F. - Page 1 <br />REPORT <br />To the Honorable Mayor and City Council <br />From the City Manager <br />June 11, 2018 <br />SUBJECT <br />Property Exchange with the State Lands Commission for the Bradford Street Affordable <br />Housing, Childcare, and Open Space Project at 707-711 Bradford Street <br />RECOMMENDATION <br />By motion, approve and authorize City Manager to execute a Land Exchange and Title <br />Settlement Agreement with State Lands Commission for the Bradford Street Project, <br />subject to any minor conforming modifications authorized by City Attorney, and further <br />authorize City Manager to execute any additional documentation necessary to <br />effectuate the agreement <br />BACKGROUND <br />In June 2015, the City issued a request for proposals to develop the City -owned site <br />at 707 Bradford with affordable housing. The City's key objectives for the <br />development were for affordable rental housing with a preference for senior <br />households, mixed -uses (childcare center preference), public Creekside Trail, a high <br />quality and sustainable development that conforms to the Downtown Precise Plan, <br />and the ability to quickly execute the project. <br />After considering seven proposals, in <br />April 2016 the City Council selected <br />MidPen Housing (Developer) for its <br />project to construct a new 7 -story, 117 <br />unit mixed-use affordable housing <br />development serving very -low income <br />seniors, with an approximately 8,000 sq. <br />ft. child care facility on the ground floor. <br />Key components of the project included <br />the affordable senior housing, childcare <br />facility, and public trail along Redwood <br />Creek (the "Project"). <br />On September 25, 2017, the City Council <br />approved a Disposition and Development <br />