Excerpt:

Exhibits:

1. Approved Development Plan

2. Draft Development Agreement

3. Boundaries of Each Phase

4. Draft Resolution

.....

DISCUSSION

To provide additional certainty for both the community and the development team, staff and the Collaborating Partners have prepared a DA for the proposed project. The DA is a contract between the City and the project applicant (and any future owner of the property) that outlines certain rights and obligations of the City and the property owner and establishes conditions under which development may occur. The DA vests the project approvals for a period of 10 years (with potential extensions) so that the project can be financed and constructed in phases over time with major public benefits constructed in the early phases of the 10-year term.

The major provisions of the DA include:

• Project Description: Obligations to complete the project consistent with the Development Plan and ENA, which includes 267 housing units and up to 40,000 square feet of community-serving commercial uses consistent with the City’s Main Street Plan and other planning documents.

• Affordable Housing. Obligations to provide 267 affordable housing units that will be permanently restricted for very low- and low-income households and will serve as the inclusionary housing (except for moderate-income units) requirement for the adjacent market rate development.

• Phasing over Time: Allowances to complete the project in phases over 10 years with possible extensions consistent with a phasing plan that outlines each of the four phases of the RESHAP development. A map of the boundaries of each phase is attached to the draft DA. (Exhibit 3.) All phases of development will be required to comply with the City’s design review process. This phasing benefits the Alameda community by allowing the community to change and improve the final design of each building to reflect current community preferences and current best practices rather than being bound to preferences that might have existed when the initial approvals for the project were granted. After approval of the DA, and DDA, the RESHAP design team will prepare and submit architectural drawings for each building and seek design review approval by the Planning Board. Over the next three to four years, MidPen and the Collaborating Partners plan to submit design review plans for all phases of the RESHAP development, including 267 residential units and related supportive and community spaces.

• Vested Rights. A DA is an enforceable contract between the City and the Collaborating Partners that vests current and future project approvals for the term of the DA.

• Impact Fees. The DA establishes which capital facilities or impact fees (e.g., sewer connection, construction improvement tax) apply to the development of RESHAP and freezes the amount of these impact fees with an allowance for inflation. The Alameda Point Development Impact Fee (DIF) will be satisfied by construction of the south of West Midway infrastructure by the adjacent market rate developer.

Staff believes that the draft DA and the proposed conveyance of the land to the Collaborating Partners for the purposes described in the DA and the approved Development Plan are consistent with the General Plan and the other land use regulations because:

• The DA ensures that the Development Plan approved by the Planning Board in 2017 is implemented and completed in appropriate phases over time.

• The Development Plan and proposed uses of the land are consistent with, and implement, the Alameda Point General Plan Element, the Main Street Specific Plan for Alameda Point and the Alameda Point Zoning regulations.

For the reasons described in the findings included in the recommended resolution of approval for the Draft Development Agreement (Exhibit 4), adoption of the DA will support the public health, safety, and general welfare of the Alameda community.