Title
Introduction of Ordinance Authorizing the Interim City Manager, or Designee, to Execute a Sixth Amendment to the Disposition and Development Agreement (DDA) between the City of Alameda and Alameda Point Partners, LLC for the Site A Project at Alameda Point; and
Introduction of Ordinance Authorizing the Interim City Manager, or Designee, to Execute a First Amendment to the Development Agreement (DA); and
Adoption of Resolution Approving Eden Housing, Inc. as the Qualified Affordable Housing Developer for Development of Block 10B of Site A at Alameda Point and Authorizing the Interim City Manager, or Designee, to Negotiate and Execute Agreements and All Other Necessary Documents to Effect Said Development. (Community Development 29061822)
Body
To: Honorable Mayor and Members of the City Council
EXECUTIVE SUMMARY
At the May 17, 2022 City Council meeting, City Council approved a "Term Sheet" staff had negotiated with Alameda Point Partners, LLC (APP) outlining the key business and financial terms of a Disposition and Development Agreement (DDA) amendment and directed staff to proceed with negotiating an amendment to the DDA (DDA Sixth Amendment). The DDA and Amendments 1-5 are attached to this staff report as Exhibit 1. The over-arching goal of the DDA Sixth Amendment is to revise the land use plan previously put in place for the balance of "Phase 1" of the Site A project that has not yet been developed, as well as revising the land use plan for all of "Phase 2" of Site A.
Staff has negotiated a DDA Sixth Amendment with APP that is consistent with the Term Sheet and is before City Council seeking approval of the DDA Sixth Amendment, so that the planning and development work on the balance of Phase 1 and all of Phase 2 may continue. The draft DDA Sixth Amendment is attached to this staff report as Exhibit 2.
Staff has also negotiated with APP an Amendment to the Development Agreement (DA First Amendment). The DA First Amendment is consistent with the T...
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