Title
Recommendation to Authorize the Interim City Manager to Execute a Twenty-Four Month Agreement with Rise Housing Solutions to Operate the Below Market Rate Purchase Program with a Total Compensation Amount Not-to-Exceed $102,000. (City Manager 20621840)
Body
To: Honorable Mayor and Members of the City Council
From: Adam W. Politzer, Interim 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 developments that are anticipated to open units for sale in Fall 2026 through 2028. This agreement would continue services provided by Rise Housing Solutions (Rise Housing) to provide Inclusionary Housing Below Market Rate (BMR) Homeownership buyer selection services through the BMR Purchase Program, including marketing the units, conducting the lottery process and underwriting applications of prospective buyers. The proposed agreement is for a twenty-four-month term and total compensation not-to-exceed $102,000. See Exhibit 1. These costs will be fully reimbursed by the housing developers who use the service to fill their inclusionary housing units and does not impact on the City's General Fund.
BACKGROUND
Implementation of Ordinance 30-16 is referred to as the Inclusionary Housing Program. When market-rate housing of nine or more units is proposed, the City requires the developer to build homes or rental units that are affordable to very low-, low- and moderate-income households. For residential developments of nine (9) or fewer units, the requirements of this section may be satisfied by paying an in-lieu fee. The Housing and Human Services Division (HHS) administers various programs, including the BMR Housing Ownership Program and other programs related to the sale or lease of inclusionary housing.
On July 10, 2018, City Council approved changes to...
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