Title
Status Report on Site A Development at Alameda Point, including Presentation on City Council Approval Process, Financing Plan, and Fiscal Impact Analysis. (Base Reuse 819099)
Body
To: Honorable Mayor and Members of the City Council
From: Elizabeth D. Warmerdam, Interim City Manager
Re: Status Report on Site A Development at Alameda Point, including Presentation on City Council Approval Process, Financing Plan, and Fiscal Impact Analysis.
BACKGROUND
On November 18, 2014, the City Council approved an Exclusive Negotiation Agreement (ENA) with Alameda Point Partners (APP), the preferred developer for a 68-acre mixed-use development site at Alameda Point (Site A) consistent with the Waterfront Town Center Plan. The ENA requires that APP complete a Disposition and Development Agreement (DDA) and a Development Plan for Site A before the end of the 6-month ENA period with two possible 3-month extensions. The first 3-month extension was granted by the City Manager in May extending the ENA until September 1, 2015. APP has also requested a Development Agreement (DA) that would vest the Site A's current and future project approvals for the term of the DDA. Generally speaking, a DA allows greater latitude and flexibility in imposing conditions and requirements on a project in the form of public benefits, and affords the developer greater assurance that once approved, the City's regulatory structure, e.g. its zoning code, will remain the same.
This evening's meeting is part of the ongoing extensive community process that has included monthly hearings before the City Council and Planning Board, meetings with other boards and commissions, stakeholder meetings and community open houses. The following is a summary of the meetings that were held to date:
* January 20, 2015: The City Council held a public meeting to review the initial development concepts and development terms.
* January 26, 2015: The Planning Board held its first public workshop on...
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