HomeMy WebLinkAbout2011-09-27 RDA Item No. 4CITY OF
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DREAM EXTREMEn
REPORT TO REDEVELOPMENT AGENCY
TO: HONORABLE CHAIRMAN
AND MEMBERS OF THE REDEVELOPMENT AGENCY
FROM: ROBERT A. BRADY
EXECUTIVE DIRECTOR
DATE: SEPTEMBER 27, 2011
SUBJECT: AFFORDABLE HOUSING (AMCAL AND CENTRAL VALLEY
COALITION FOR AFFORDABLE HOUSING) PROPOSALS
Background
On March 22, 2011 the Agency Board reviewed two (2) separate affordable housing
proposals from AMCAL and Central Valley Coalition for Affordable Housing. AMCAL is
proposing to develop a 3.4 acre site at 6`h Avenue and Bancroft Way. AMCAL is
proposing two (2) phases. Phase I will provide forty-nine (49) units of affordable senior
housing and Phase II will provide fifty (50) units of affordable family housing. Central
Valley Coalition for Affordable Housing is proposing to develop a 7.5 acre site located
on Lakeshore Drive. Lakeshore Village will consist of twenty-eight (28) one-bedroom
units, forty-four (44) two-bedroom units, and fifty-six (56) three (3) bedroom units.
At the same meeting, the Agency Board directed staff to forward the two (2) affordable
housing proposals (AMCAL and Central Valley Coalition for Affordable Housing) to
Keyser Marston and Associates (KMA) for a financial gap analysis.
On June 28, 2011, the Board reviewed the KMA analysis and heard testimony from
AMCAL and Central Valley Coalition. After discussing both projects as well as the
current state of the Agency as it related to Governor Brown's proposal to eliminate
Redevelopment Agencies, the Board directed staff to bring the items back in ninety (90)
days. This was done so as to allow both interested affordable housing firms to revise
their pro-formas and to allow the Board to identify what the State was planning to do as
it relates to Redevelopment Agencies.
On September 7, 2011, representatives of AMCAL submitted a request to staff that the
item be continued from the regularly scheduled meeting of September 27, 2011 to the
regularly scheduled meeting of October 25, 2011 so that all Council members can
attend.
AGENDA ITEM NO.4
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Affordable Housing Proposals
September 27, 2011
Page 2
Recommendation
That the Agency Board continue the item to the regularly scheduled Redevelopment
Agency meeting of October 25, 2011.
Prepared by: Justin Carlson, Redevelopment Agency Analyst
Approved by: Robert A. Brady
Executive Directo
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