Title
Recommendation to Authorize the City Manager to Execute a Twenty-Five Month Agreement with Rise Housing Solutions to Provide Inclusionary Housing Homeownership Buyer Selection Services, Based on the Updated Annual Below Market Rate Homeownership Lottery Procedures, with a Total Compensation Amount Not-to-Exceed $180,000. (City Manager 20621840)
Body
To: Honorable Mayor and Members of the City Council
From: Jennifer Ott, City Manager
EXECUTIVE SUMMARY
Ordinance 30-16, Inclusionary Housing Requirements for Residential Projects, is a mechanism for the development of affordable homeownership and rental housing in the City of Alameda (City). The City has multiple inclusionary housing homeownership projects simultaneously becoming available over the next two years. Historically, each developer has selected a third-party administrator to market, conduct the lottery process and underwrite applications of the prospective buyers of their affordable housing units. Staff proposes creating a single application process for all homeownership opportunities within the City during a twelve month timeframe in order to increase access and efficiency for applicants. Staff recommends proceeding with Rise Housing Solutions to provide Inclusionary Housing's Below Market Rate (BMR) Homeownership buyer selection services for a twenty-five-month term and total compensation not-to-exceed $180,000. See Exhibit 1. These costs will be reimbursed by the housing developers who use the service to fill their inclusionary housing units.
BACKGROUND
Ordinance 30-16, Inclusionary Housing Requirements for Residential Projects, is a mechanism for the development of affordable homeownership and rental housing in Alameda. Implementation of this ordinance is referred to as the Inclusionary Housing Program. When market-rate housing of five or more units is proposed, the City requires the development of homes or rental units that are affordable to very low-, low- and moderate-income households...
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