Title
Adoption of Resolution Authorizing the City Manager to Enter into a Third Amendment to the Economic Development Conveyance Agreement to Modify the Housing Fee for the Former Naval Air Station, Alameda.
The streamlining provisions of Public Resources Section 21083.3 and Section 15183 of the California Environmental Quality Act (CEQA) Guidelines apply and no further environmental review is required. (Base Reuse and Economic Development, 29061822)
Body
To: Honorable Mayor and Members of the City Council
From: Jennifer Ott, City Manager
EXECUTIVE SUMMARY
The Economic Development Conveyance Memorandum of Agreement (EDC Agreement) between the City of Alameda (City) and the Navy guides the process and terms by which the Navy has conveyed property at the former Naval Air Station Alameda (Alameda Point) to the City. This agreement was originally executed in 2000 and amended in 2001 and 2012.
Staff and the Navy have negotiated and recommend several changes to the agreement, with the goals of accelerating housing development at Alameda Point and providing the Navy with further information needed to ensure the City's compliance with its requirement to reinvest proceeds of Alameda Point leases and sales on job creation and redevelopment of the former base.
The recommended third amendment to the EDC agreement would amend the housing development section as follows: for every market rate unit beyond a baseline of 2,011 units established in the agreement, the City will pay the Navy a per unit fee, which is reduced from its current level of approximately $103,000 to $73,000. If the City pays the fee upon transfer of property or commencement of infrastructure construction, the fee is reduced to 45% of its set amount (approximately $33,000 in 2025). If the City pays the fee upon issuance of vertical building permits, the fee is reduced to 75% (approximately $55,000 in 2025). The City's intent is to pass this fee requirement through to future private developers.
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