AgdaPkt 2005-01-24 - Laserfiche WebLink

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to. A - I REPORT To the Honorable Mayor and City Council And the Redevelopment Agency Board From the Ci Mana er and the Executive Director January 24, 2005 Subject Disposition and Development Agreement (DDA) for First Community Housing's (FCH) proposal for 58-unit affordable housing project at EI Camino & Vera Avenue Recommendations It is recommended that 1. the Council adopt a resolution approving the Disposition and Development Agreement by and between the Redwood City Redevelopment Agency and First Community Housing, Inc; 2. the Agency Board adopt a resolution approving the Disposition and Development Agreement by and between the Redwood City Redevelopment Agency and First Community Housing, Inc. which provides for subsequent transfer of land to First Community Housing; 3. the Agency Board approve a resolution authorizing submittal of an application for funding to the County of San Mateo Housing Department to assist in project costs. Background In December 2000, the City and Agency purchased the subject property using a combination of HOME and CDBG, and Agency Housing set-aside funds for the purpose of conveying the site to a non-profit affordable housing developer. During 2001, four residents and one business were relocated and the site underwent environmental clearance. By 2002, the Agency engaged in a site-planning effort with architect Michael Pyotak to establish a supportable program for the site. This process resulted in a recommendation that the site be developed as a combination of rental and ownership housing as preferred by Council. In January 2004, FCH and Peninsula Habitat for Humanity (PHH) submitted a joint proposal to the Agency for the construction of approximately 58 very low income rental apartments and 8 very low to low income ownership town homes. The Agency executed exclusive negotiation agreements with both FCH and PHH to further evaluate DJT:cje Redev Sh«edI2005 Staff ReportslO1-2005/FCH DDA