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��f3-4 <br /> demonstrate its good faith to comply by showing HUD that the project is substantially underway. <br /> This can be done by entering into direct negotiations with a developer or by authorizing the <br /> issuance of an RFP to provide additional assurance, if needed, of the competitiveness of the <br /> development proposal uitimately selected. <br /> HHCC Recommendation <br /> After consultation with Ke;•ser Marston and FCH, staff went back to the HHCC and reported our <br /> findings on the MHP funding requirements and timeline. The Committee was advised that they <br /> could recommend to Council that a RFP be issued to solicit proposals from multiple developers, <br /> or they could recommend negotiating directly with FCH. <br /> After some discussion regarding the scoring of the MPH funds and clarification from the <br /> developers, the Committee indicated they were ready to support direct negotiations with First <br /> Community Housing and Peninsula Habitat for Humanity. The Committee voted unanimously to <br /> recommend that Council/Agency Board authorize staff to enter into direct negotiations with FCH <br /> for an ERN. <br /> Alternative <br /> The Council could decide to issue an RFP. <br /> Planning Issues <br /> The City Council and Redevelopment Agency purchased this property with the intention to build <br /> affordable housing. As the Council/Agency moves fonvard to implement this project, staff wiil <br /> also initiate actions to amend both the General Plan and the Zoning Ordinance. The current <br /> General Plan designation permits office and retail uses; the Zoning Ordinance allows residential <br /> use on the parcels fronting on Lincoln but not on the property fronting on ECR. Staff will <br /> probably recommend the creation of a Precise Plan for this site. <br /> Fiscal Impact <br /> There is no fiscal impact to negotiating an ERN, other than staff costs and some consulting time <br /> from KMA. Financial assistance may ultimately be required if a development agreement is <br /> entered into. In anticipation of building an affordable housing project on the site, funds were <br /> allocated in the Fiscal Year 03/04 Redevelopment Housing budget. Additional funding will be <br /> recommended in the FY 04/05 budget. The development proposal indicated a subsidy <br /> requirement ranging from $57,500 to $102,000 per unit (including land), depending on the <br /> availability of MHP funding for the project (which equates t total assistance ranging from $2.1 <br /> m�llion to $4.8 million, exc uding land). <br /> � �. ti� / <br /> D bbi nes-T o s usan. At�oeller `� <br /> Ho i Co dinat Re vel ry�nt Ma er <br /> i <br /> i <br /> '� <br /> Bruce Liedstrand, Director Ed Ever <br /> Community Development Services City Manager <br /> Attachment: Summary of Joint Development Proposal <br />