AgdaPkt 2009-12-14 - Laserfiche WebLink

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6.3A _ . age 1 , ��a:�� , Ta t�te �ed�vel��men�a�e�ncy Roarc� : �rom the �xecut�ve�irecto� December 14, 2009 SUBJECT Time Extension to Develop 707 Bradford Street for Affordable Housing RECOMMENDATION Adopt a resolution to extend the time to develop 707 Bradford Street for affordable housing. BACKGROUND On October 19, 2004, the Redevelopment Agency Board ("Board") purchased 707 Bradford with �1.427 million of low and moderate income housing funds ("LM(HF").� According to the California Redevelopment Law, fihe Rede�elopment Agency ("Agency") may not hold land indefinitely. The Agency must initiate activities to develop the properky for affordable housing within five years from the da#e it acquires the property {California Health and Safety Code Section 33334.16}. These activities may include zoning changes or agreements entered into for the de�elopment and disposition of the property. The activities could be extended for one additional period not to exceed five years if the Board adopts a resolution affirming its intention that the property be used for the development of affordable housing to persons and families of low and moderate income. A number of activities in the past five years ha�e been underway to deve(op 707 6radford as senior housing. The Board purchased the adjacent undeveioped parcel, APN 052-037-017 (777 Bradford Street) in 2006. The combination of the two Agency owned properties, along with two abutting City owned undeveloped parcels —APN 052- 372-240 and 052-372-999 could provide a contiguous area of approximately one acre to develop an affordable senior housing project with a possible childcare component. The environmental documents were prepared including the Phase I and Phase 11 Environmental Site Assessment (ESA) for the Bradford parcels. After reviewing the Phase II ESA, the County of San Mateo Environmental Health required further testing and analysis of the soil and groundwater. The County then required the preparation of a focused risk assessment in 2007. ln 2Q08, the Agency entered into an agreement with the California Environmental Protection Agency's Department of 7oxic and Substance Control (uDTSC") as the oversight organization for the remediation of the Bradford parcels. The Environmental �versight Agreement (E4A}, available only for redevelopment agencies, is used to receive a closure letter and obtain liability relief under the Polanco Redevelopment Act.2 The E�A establishes a collaborati�e cleanup process between DTSC and the Agency to facilitate timely and cost-efficient ' Twenty percent of all property tax increment allocated to the Agency must be set-aside in a separate housing fund (LMIHF)to help finance affordable housing. z The Pofanco Act assists redevelopment agencies in redevelopment of brownfield properties by: 1) prescribing processes when cleaning up a haZardous substance release in a redevelopment area, and 2) providing immunity from liability for redevelopment agencies and subsequent property purchasers for sites cleaned up under a cleanup plan approved by the DTSC or a Regional Water Board.