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10/10/2012 2:34:04 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
10/16/2012
DESTRUCT DATE
15Y
DOCUMENT NO
10
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THE CITY OF 10 <br /> m CITY COUNCIL AGENDA REPORT <br /> pL£ASANTON. <br /> October 16, 2012 <br /> Assistant City Manager <br /> TITLE: APPROVAL OF THE DRAFT KOTTINGER PLACE AND PLEASANTON <br /> GARDENS PREDEVELOPMENT ANALYSIS REPORT AND RELATED <br /> ACTIONS <br /> SUMMARY <br /> On February 7, 2012, the City Council approved an Exclusive Negotiating Rights <br /> Agreement (ENRA) with MidPen Housing for the purpose of progressing with the next <br /> phase of researching the potential for redeveloping the Kottinger Place and Pleasanton <br /> Gardens senior affordable housing developments located on Kottinger Drive. Since that <br /> time, MidPen and the Kottinger Place Redevelopment Task Force (Task Force) have <br /> been conducting public meetings to study development alternatives, and at its meeting <br /> of September 19, 2012, the Task Force unanimously approved the Kottinger Place and <br /> Pleasanton Gardens Predevelopment Analysis Report (Predevelopment Report). This <br /> Predevelopment Report was also unanimously approved by the Housing Commission at <br /> its September 27 meeting. As a result, staff is seeking City Council approval and <br /> direction regarding the next phase of the project. <br /> HOUSING COMMISSION RECOMMENDATION <br /> Approve the Predevelopment Report and proceed with Development Approach 2. <br /> KOTTINGER TASK FORCE RECOMMENDATION <br /> Approve the Predevelopment Report and proceed with Development Approach 2. <br /> RECOMMENDATION <br /> 1. Approve the Kottinger Place and Pleasanton Gardens Predevelopment Analysis <br /> Report (Attachment A). <br /> 2. Authorize the Task Force to proceed to Task 2 of the ENRA (project <br /> entitlement/development) based on the principles and design concepts included <br /> in Development Approach 2 as detailed in the Predevelopment Report. <br /> 3. Authorize staff to negotiate a disposition and development agreement (DDA) with <br /> MidPen Housing. <br /> 4. Authorize staff to work with Pleasanton Gardens to develop a memorandum of <br /> understanding regarding the transfer of property ownership and related financial <br /> contributions. <br /> 5. Appropriate $8 million from the Lower Income Housing Fund (217900) as a <br /> reserve for potential City contribution to the Kottinger Place/ Pleasanton Gardens <br /> redevelopment project. <br /> FINANCIAL STATEMENT <br /> Current development cost estimates for Development Approach 2 range from $58 <br /> million to $62.8 million with a City contribution ranging from $7.1 million to $8.2 million. <br /> The City's Lower Income Housing Fund has an existing balance of approximately $16 <br /> million. <br />
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