REPORT TO THE CITY COUNCIL
March 23, 2017
FROM: BRUCE RUDD, City Manager
City Manager’s Office
BY: LAURA GLORIA, Business Manager
City Manager’s Office
SUBJECT
Title
Approve Amended and Restated Disposition and Development Agreement between Cesar Chavez Foundation and the City of Fresno
Body
RECOMMENDATION
Staff recommends the City Council approve the Amended and Restated Disposition and Development Agreement between Cesar Chavez Foundation and the City of Fresno and authorize the City Manager or designee to execute any implementing documents.
EXECUTIVE SUMMARY
The Cesar Chavez Foundation (CCF) was successful in its application in the Affordable Housing and Sustainable Communities Program (AHSC) created by Senate Bill 862 (2014) to reduce greenhouse gas emissions through projects that implement land use, housing, transportation, and agricultural land preservation practices to support infill and compact development. The Amended and Restated Disposition and Development Agreement (DDA) adapts the performance schedule to deadlines for securing Low Income Housing Tax Credits, and other available public and private mortgage and debt financing.
BACKGROUND
On September 30, 2016, CCF was notified that its project was awarded $15.6 million through the AHSC Program for the Kings Canyon Connectivity Project. This $31.7 million project consists of a 135-unit affordable multi-family development and Sustainable Transportation Infrastructure (STI) components such as improved walk paths, dedicated bike paths and crosswalks, connecting residents to, major retail, social services, education, employment opportunities, and future Bus Rapid Transit services. This project also contains Transportation Related Amenities (TRA), Housing Related Infrastructure (HRI) components, and a workforce training/employment strategies program which will offer construction apprenticeships and a career training/placement program targeting renewable energy industry opportunities.
The original DDA expires on March 29, 2017; the proposed Amended and Restated DDA would extend the timelines in the performance schedule for securing financing. In addition to the AHSC award, CCF is pursing Low Incoming Housing Tax Credits, state credits and bonds. The project is fully entitled and is estimated to break ground in summer of 2017. Subsequently, changes to the performance schedule of the DDA are necessary in order to adapt for funding timelines.
ENVIRONMENTAL FINDINGS
This action is not a project pursuant to CEQA Guidelines 15378.
LOCAL PREFERENCE
Local preference is not applicable because this is not a contract for goods, services, or public work of improvement.
FISCAL IMPACT
No fiscal impact is associated with the Amended and Restated Disposition and Development Agreement.
Attachment:
Amended and Restated DDA