AgdaPkt 2004-03-22 - Laserfiche WebLink

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� - - �' � I REPORT _ To the City Council and Redevelopment Agency Board From the Redevelopment Manager and City Manager EXECUTIVE SUMMARY March 22, 2004 Subject EI Camino Vera Street Affordable Housing Project Action Requested: Affirm the recommendation of the Housing and Human Concems Committee and authorize staff to enter into direct negotiaYions with First Community Housing/Habitat for Humanity for an Exclusive Right to Negotiate on the EI Camino Real/Vera Street site. Issue First Community Housing (FCH) and Peninsula Habitat for Humanity have submitted a joint development proposal for the development of the EI Camino Vera Street site for an affordabie housing project and have asked the Housing & Human Concerns Committee to recommend to Council that they be considered for an Exclusive Right to Negotiate (ERN) — for the subject property. The Committee was advised that they could recommend to Council that a RFP be issued to solicit proposals from multiple developers; or, they could recommend moving to the next step with FCH and enter into negotiations for an ERN. Major Finding The HHCC members felt proposals from otherdevelopers would most likely be received in response to an RFP; but, there was no assurance the process would result in better proposal, either in terms of the strength of the development team, nor in the financial assistance requested. The Committee voted unanimously to recommend that the Council/Agency Board authorize staff enter into negotiations with FCH/Habitat for an ERN. Alternative Direct staff to issue a Request for Proposals for the development of the subject property.