AgdaPkt 2020-11-16 Special - Laserfiche WebLink

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S.A. - Page 7 of 302 Parcel F - The applicant requests two concessions: 1. Reduced parking ratio from 0.5 space per unit to 0.3 spaces per unit 2. Reduced side setback on Jackson Avenue from 5 ft. to 2 ft. 1306 Main Street Acquisition Request- As part of the project, the applicant requests acquisition of the City - owned parcel at 1306 Main Street. The property is developed with a 23 -unit building that provides 22 affordable studio units at the very low income level and 1 manager's unit. The property is currently occupied by three tenants and a building manager as the property has environmental issues (soil contamination) which would require costly remediation. The 12,500 sq. ft. lot is one of five parcels that make up Parcel C. The applicant proposes to demolish the existing buildings, merge the parcels into one, and construct a 166,000 sq. ft. office building on this parcel. The City negotiated a fair market value asking price of $8 million for the property. The City used a combination of Community Development Block Grant (CDBG), HOME Investment Partnerships (HOME), and former Redevelopment Agency (RDA) Low/Moderate Income Housing funds to acquire the property. The sales proceeds will be repaid to these funding sources and the City plans to use the sales proceeds in accordance with the applicable CDBG, HOME, and RDA regulations. In addition, the applicant would be required to relocate the four existing residential tenants and the three non-residential tenants displaced by the project, for a total cost of approximately $450,000. The applicant would be required to replace the units in-kind. In accordance with local and state laws, the existing tenants have been notified of the proposed tenant relocation plan and have been provided with a 30 -day public comment period (from October 9, 2020 through November 7, 2020). To satisfy these requirements, the applicant proposes to establish 22 of the 38 units in Parcel F as the replacement units. These would be similar in size as the existing studio units at 1306 Main; however approximately 30% (7 units) would be provided at a deeper affordability level (extremely low) than existing (very low). The remaining 15 units would be provided at the very low income level. The existing tenants would be given a priority preference to relocate at the new building. Details of the proposed purchase and sale agreement and tenant relocation plan are attached. Child Care—The project is proposing an 8,400 sq. ft. child care facility on Parcel B, fronting Lathrop Street, which would support 60-70 children (see Condition of Approval #7). An outdoor play yard is proposed adjacent to the building along Cedar Street. The facility has been designed by a child care designer to ensure that it satisfies state requirements and the needs of child care operators (see attachment). The facility would be open to the public, and not reserved for children of on-site residents or office employees. This child care would be Pre -K, but specifics in terms of the operator, allotment of spaces available for each age range, or other details have not yet been determined. In addition, the applicant has offered the following commitments: 1. $0 Rent 2. No rent escalation 3. Lease term of 10-15 years for the childcare operator 4. Build out of tenant improvements of childcare facility Entertainment — The project is proposing an approximately 19,000 sq. ft. entertainment facility on Parcel B, fronting EI Camino Real, which would provide family oriented activities. This space was designed to provide a large clear -spanned space to allow options for how this space could be used, including a roller rink, laser tag, bowling, or other activities. The space also provides a mezzanine for potential event space Page 7 of 22 ARM City of Redwood City 1017 Middlefield Road, Redwood City, CA. 94063 Tel: 650-780-7000 www.redwoodcity.org 10