Title
Public Hearing to Consider Introduction of Ordinance Amending the Disposition and Development Agreement between Alameda Point Partners, LLC and the City of Alameda for Site A at Alameda Point to Extend the Phase 1 Outside Closing Date from December 12, 2016 to April 11, 2017 to Allow for Additional Time to Complete Property Due Diligence and to Secure Additional Financial Commitments. (Base Reuse 819099)
Body
To: Honorable Mayor and Members of the City Council
From: Jill Keimach, City Manager
Re: Public Hearing to Consider Introduction of Ordinance Amending the Disposition and Development Agreement between Alameda Point Partners, LLC and the City of Alameda for Site A at Alameda Point to Extend the Phase 1 Outside Closing Date from December 12, 2016 to April 11, 2017 to Allow for Additional Time to Complete Property Due Diligence and to Secure Additional Financial Commitments
BACKGROUND
In June 2015, the City Council unanimously approved the Site A Development Plan and a Disposition and Development Agreement (DDA) with the private developer, Alameda Point Partners (APP), for a 68-acre area within Alameda Point that extends generally from the Main Street entrance of Alameda Point to the eastern edge of the Seaplane Lagoon. Site A includes 800 housing units (200 affordable), 600,000 square feet of commercial development, and extensive parks and utility infrastructure (Site A Project). The Site A Project represents the first major public/private development at Alameda Point since the Base closed and lost 18,000 jobs in 1997. It is an important first step towards achieving the community's vision of a mixed-use transit-oriented development at Alameda Point. The Site A Project:
* Fulfills the community's vision of building a high-quality mixed-use transit-oriented waterfront development that includes approximately 1,472 on-site permanent jobs and 2,570 direct construction jobs over the life of the project, retail amenities, a diversity of housing types ...
Click here for full text